NASDAQ$TPST
Tempest Therapeutics Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported financial results for the first quarter of 2023 and provided a corporate update.
Tempest Therapeutics reported a net loss of $7.6 million, with cash and cash equivalents totaling $22.9 million at the end of the quarter. The company highlighted positive early data from its TPST-1120 study in HCC patients and presented new data on its TREX1 inhibitor program.
- Reported unconfirmed responses of 30% for the TPST-1120 triplet arm (12/40) vs. 17.2% for the active control arm (5/29), demonstrating a 74.4% relative improvement in objective response rate (ORR).
- Reported confirmed responses of 17.5% for the TPST-1120 triplet arm (7/40) vs. 10.3% for the active control arm (3/29), demonstrating a 69.9% relative improvement in confirmed ORR.
- 47.5% (19/40) of the TPST-1120 arm patients are on treatment vs. 23.3% (7/30) in the control arm.
- Ended the quarter with $22.9 million in cash and cash equivalents.
Headline financials
Revenue & EPS history
Tempest · Revenue · Quarterly
$0
Forward guidance
Tempest anticipates updated data from the TPST-1120 HCC study from Roche and plans to report data from the TPST-1495 trial at ASCO 2023, with further data on the endometrial cancer arm in 2024. The company also expects to advance its TREX1 inhibitor program.
Tailwinds
- Expect to receive updated data from the ongoing global randomized first-line Phase 1b/2 study in patients with HCC from Roche for TPST-1120.
- Plan to report data from the Phase 1 dose and schedule optimization trial studying monotherapy and combination therapy with an anti-PD1 therapy, pembrolizumab, at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting for TPST-1495.
- Plan to report data from a separate combination arm at the two highest TPST-1495 doses in patients with advanced endometrial cancer in 2024.
- Expect to advance new proprietary small molecule series TREX1 inhibitors generated through insights resulting from human TREX1-inhibitor co-crystal structures.
- Based on the current cash position and operating plan, Tempest expects to have sufficient resources to fund operations through the second quarter of 2024.
Headwinds
- Unexpected safety or efficacy data observed during preclinical or clinical trials.
- Clinical trial site activation or enrollment rates that are lower than expected.
- Changes in expected or existing competition.
- Changes in the regulatory environment.
- Unexpected litigation or other disputes.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-2.1%
Avg return
Earnings day
-3.1%
Avg return
5 days after
-10.2%
Avg return
30 days after
34%
12 / 35 earnings
Positive
+15.8%
Q2 2022
Best reaction
-41.3%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +1.2% | +4.5% | -36.2% | |
| Q3 2025 | -3.2% | -3.3% | -68.6% | |
| Q2 2025 | +10.0% | +31.5% | +33.7% | |
| Q1 2025 | -2.6% | -8.2% | +0.7% | |
| Q4 2024 | +5.9% | -9.5% | -28.9% | |
| Q3 2024 | -11.5% | -19.1% | -24.1% | |
| Q2 2024 | -16.8% | -21.4% | -11.4% | |
| Q1 2024 | -5.5% | -2.0% | -10.4% | |
| Q4 2023 | -3.1% | -5.9% | -18.1% | |
| Q3 2023 | +6.1% | +11.7% | +3.6% | |
| Q2 2023 | +7.2% | +13.5% | -29.1% | |
| Q1 2023 | +3.4% | +6.3% | -42.0% | |
| Q4 2022 | +10.2% | +8.1% | +80.3% | |
| Q3 2022 | -12.1% | -11.5% | -14.0% | |
| Q2 2022 | +15.8% | +18.2% | +5.1% | |
| Q1 2022 | +5.9% | +12.9% | -2.2% | |
| Q4 2021 | -3.6% | -18.8% | -12.4% | |
| Q3 2021 | -2.5% | -7.8% | -35.5% | |
| Q2 2021 | -0.1% | -6.3% | +6.3% | |
| Q1 2021 | -0.8% | -1.6% | -10.2% | |
| Q4 2020 | -41.3% | -41.7% | -46.3% | |
| Q3 2020 | -1.3% | -1.3% | +28.2% | |
| Q2 2020 | -2.6% | -3.6% | -17.7% | |
| Q1 2020 | -4.7% | +0.0% | +32.0% | |
| Q3 2019 | -2.7% | +1.2% | -21.1% | |
| Q2 2019 | -0.5% | -7.4% | -23.2% | |
| Q1 2019 | +2.6% | +0.9% | -21.2% | |
| Q3 2018 | -5.2% | -13.0% | -10.0% | |
| Q2 2018 | -14.4% | -8.9% | -15.6% | |
| Q1 2018 | +0.7% | +0.7% | -4.7% | |
| Q3 2017 | -4.6% | -2.9% | -0.7% | |
| Q2 2017 | +3.1% | -2.5% | -12.3% | |
| Q1 2017 | -0.4% | -1.8% | -8.1% | |
| Q3 2016 | -6.8% | -31.6% | -35.4% | |
| Q2 2016 | -0.5% | +11.2% | +12.7% | |
| Q1 2016 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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