Tempest Therapeutics Announces Stock Options Inducement Grant

Tempest Reports Inducement Grant Under Nasdaq Listing Rule

Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage biotechnology company developing first-in-class targeted and immune-mediated therapeutics to fight cancer, has announced that the Compensation Committee of the Company’s Board of Directors granted an employee nonqualified stock options to purchase an aggregate of 60,000 shares of its common stock under the Company’s 2023 Inducement Plan.

Details of the Stock Option Grant

The stock options are structured to vest over a four-year period. Specifically, 25% of these options will vest on the first anniversary of the employee’s start date, with the remaining shares vesting at a rate of 1/48th monthly thereafter, contingent upon the employee's continued employment at the time of each vesting date. This structured approach not only incentivizes the employee but also aligns their interests with the long-term goals of the company.

About Tempest Therapeutics

Tempest Therapeutics is advancing a diverse portfolio of small molecule product candidates that feature tumor-targeted and/or immune-mediated mechanisms potential to treat various tumors. The company's innovative programs span from early research phases to later-stage investigations, including a randomized global study focusing on first-line cancer patients. This demonstrates Tempest's commitment to pushing the boundaries of cancer treatment through meticulously crafted therapies.

Company’s Vision and Goals

At the heart of Tempest Therapeutics lies a visionary approach to oncology, combining cutting-edge research with real-world application. The company strives to create transformative therapies that can drastically improve patient outcomes and extend survival in challenging cancer scenarios. By focusing on both developmental breadth and therapeutic depth, Tempest is uniquely positioned to address a spectrum of oncological challenges.

Strategic Partnerships and Collaborations

Tempest Therapeutics recognizes the importance of collaboration and strategic partnerships in strengthening its research and development efforts. Engaging in partnerships with leading research institutions and other biopharmaceutical companies enhances their ability to innovate and accelerate the development of their therapeutic candidates.

Future Prospects

Looking ahead, Tempest is poised for growth. As clinical trials progress and additional data is gathered, the company continues to seek advancements in its pipeline. The strategic decisions made today, backed by competent leadership and scientific expertise, lay the groundwork for significant breakthroughs in cancer treatment.

Investor & Media Contacts

For inquiries or more information, please contact:

Sylvia Wheeler
Wheelhouse Life Science Advisors
swheeler@wheelhouselsa.com

Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com

Frequently Asked Questions

What is the purpose of the stock option grant?

The stock option grant aims to incentivize employees, aligning their interests with the company's long-term objectives.

How many shares were included in the stock options grant?

A total of 60,000 shares of common stock were included in the stock options granted.

What does Tempest Therapeutics focus on?

Tempest Therapeutics focuses on developing targeted and immune-mediated therapeutics for cancer treatment.

How is the vesting schedule structured for stock options?

The vesting schedule entails 25% of the options vesting on the first anniversary of the hire date, with monthly vesting thereafter for the remaining shares.

Who can be contacted for more information about Tempest Therapeutics?

Investor and media inquiries can be directed to Sylvia Wheeler or Aljanae Reynolds at Wheelhouse Life Science Advisors.

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