Tempest Therapeutics, Inc. (NASDAQ:TPST), a company specializing in pharmaceutical preparations, has reported a notable stock transaction involving its Chief Medical Officer, Whiting Samuel. According to the latest SEC filing, Samuel acquired 4,672 shares of common stock at a price of $2.13 per share, totaling an investment of $9,951.
This purchase, made on July 2, 2024, has increased Samuel’s direct ownership in the company to a total of 9,573 shares. The SEC filing also mentions that this figure includes an additional 3,000 shares obtained through the company’s stock purchase plan.
The transaction indicates a bolstering of Samuel’s stake in the company, reflecting a potential confidence in the prospects of Tempest Therapeutics. Investors often monitor such insider transactions as they may provide insights into the company’s performance and the sentiment of its executives.
Tempest Therapeutics, formerly known as Millendo Therapeutics (NASDAQ:) and OvaScience before that, is headquartered in Brisbane, California, and operates under the industrial classification of pharmaceutical preparations. The company has not disclosed any additional transactions or derivative securities as part of this filing.
In other recent news, Tempest Therapeutics is set to move its cancer treatment candidate TPST-1120 into a pivotal Phase 3 trial in Hepatocellular Carcinoma (HCC). This development comes after observing positive results from earlier Phase 1 trials, which were published in Cancer Research Communications. TPST-1120, an oral, selective PPARα antagonist, showed clinical activity, including tumor shrinkage in PD-1 inhibitor refractory and immune-compromised cancers. It was well-tolerated both as a standalone treatment and in combination with nivolumab.
In the Phase 1 study, 35 patients were treated with escalating doses of TPST-1120. Stable disease was observed in 53% of evaluable patients, with some experiencing treatment durations over five months. Furthermore, in combination therapy, objective response rates were 23% across all dose levels, indicating a dose-responsive anti-cancer activity.
Dr. Sam Whiting, Chief Medical Officer and Head of R&D at Tempest, noted the first evidence of anti-tumor activity across multiple cancer types. He pointed out the connection between changes in PPARα-associated immune genes and clinical outcomes, observed in patients who responded to the treatment. These are the recent developments in Tempest Therapeutics’ efforts to combat cancer through targeted and immune-mediated therapeutics.
InvestingPro Insights
Tempest Therapeutics, Inc. (NASDAQ:TPST) has recently seen significant insider activity, with Chief Medical Officer Whiting Samuel increasing his stake in the company. This move aligns with key metrics and trends that can be observed through InvestingPro data and insights.
InvestingPro Data highlights a market capitalization of $46.88 million USD for TPST, underlining its position in the market. Despite a challenging financial performance, with an adjusted P/E ratio for the last twelve months as of Q1 2024 sitting at -1.58, the company’s stock reflects a degree of volatility that some investors might find appealing. Notably, the price has dropped to 21.6% of its 52-week high, with a previous close at $2.12 USD.
Among the InvestingPro Tips, it’s noteworthy that TPST holds more cash than debt on its balance sheet, suggesting some level of financial stability. Additionally, the stock is in oversold territory according to the Relative Strength Index (RSI), which could signal a potential turning point for investors looking for entry points.
These insights, along with the recent insider purchase, may suggest that there are factors at play that could influence the company’s stock performance. For those interested in a deep dive into TPST’s financial health and future prospects, there are 12 additional InvestingPro Tips available, offering a more comprehensive understanding of the company’s position.
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While Tempest Therapeutics faces challenges, evidenced by weak gross profit margins and a lack of profitability over the last twelve months, the insider buying activity could be an indicator of underlying potential that is not immediately apparent from public financial data alone.
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