Tempest Therapeutics Secures $4.6 Million in Stock Offering
Tempest Therapeutics' Recent Stock Offering Overview
Tempest Therapeutics, Inc. (NASDAQ: TPST), a clinical-stage biotechnology firm known for its innovative approaches to cancer treatment, has announced an important financial move. The company has entered into a definitive agreement with an institutional investor to conduct a registered direct offering of 739,000 shares of its common stock at a price of $6.25 per share. This offering is anticipated to bring in approximately $4.6 million before deducting other related expenses.
Details of the Offering
The transaction is managed by H.C. Wainwright & Co., which serves as the exclusive placement agent. The closing of this offering is expected shortly, pending standard finalization conditions. The expected gross proceeds will significantly enhance the financial resources of Tempest, enabling it to pursue various strategic initiatives.
Purpose of the Proceeds
The net proceeds from this registered offering will primarily support the company's ongoing strategic alternative processes and provide working capital for general corporate activities. This infusion of funds is crucial as Tempest advances its research and development phases, particularly focusing on expanding its pipeline of therapeutic candidates.
About Tempest Therapeutics
Tempest Therapeutics specializes in creating a diverse portfolio of small molecule product candidates that utilize targeted and immune-mediated mechanisms. These innovative therapies aim to combat a wide range of tumors, showcasing the company’s commitment to pioneering cancer treatments. They have made notable advancements from initial research to later-stage clinical trials aiming to benefit patients in their battle against cancer.
Clinical Development and Innovations
The company's pipeline includes first-in-class therapeutics that demonstrate a strong potential in treating various cancer types. Tempest is focused on studies that validate the safety and efficacy of its treatment approaches, which could lead to significant breakthroughs in cancer care.
Investor Communications and Future Strategies
Investors and interested parties can expect continuous updates as the company advances its goals and navigates its growth strategy. Transparency is a priority; hence, the company will provide crucial information through its filings with the Securities and Exchange Commission (SEC).
Contact Information
For any inquiries or further information on the offering, individuals may reach out to Sylvia Wheeler and Aljanae Reynolds from Wheelhouse Life Science Advisors, who handle their investor relations. They are committed to conveying essential updates and fostering investor engagement.
Frequently Asked Questions
What is the purpose of Tempest's recent stock offering?
The stock offering aims to secure approximately $4.6 million to support the company's strategic initiatives and provide necessary working capital.
Who is managing the stock offering?
H.C. Wainwright & Co. is acting as the exclusive placement agent for Tempest Therapeutics' registered direct offering.
How many shares are being offered in this transaction?
A total of 739,000 shares of common stock are being offered at a price of $6.25 per share.
What does Tempest Therapeutics focus on?
Tempest Therapeutics focuses on developing targeted and immune-mediated therapeutics aimed at treating various types of cancer.
How can investors get more information?
Investors can get more information by reaching out to their investor relations contacts, Sylvia Wheeler and Aljanae Reynolds, via email for updates and inquiries.
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