Tempest Therapeutics posts smaller-than-expected Q2 net loss

Reuters
08/12
Tempest <a href="https://laohu8.com/S/LENZ">Therapeutics</a> posts smaller-than-expected <a href="https://laohu8.com/S/QTWO">Q2</a> net loss 

Overview

  • Tempest Therapeutics reports smaller-than-expected Q2 net loss

  • Reports adjusted EPS of -$2.07

  • Co received clearance for pivotal trial of amezalpat in China

Outlook

  • Company exploring strategic alternatives to maximize stockholder value

Result Drivers

  • COST MANAGEMENT - Decrease in R&D expenses due to reprioritization of efforts towards strategic alternatives

  • FINANCIAL STRATEGY - Strengthened cash position through $4.6 mln stock offering and strategic alternatives exploration

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 EPS

-$2.07

-$2.6 (2 Analysts)

Q2 Net Income

-$7.87 mln

-$11.90 mln (1 Analyst)

Q2 Operating Income

-$7.97 mln

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy."

  • Wall Street's median 12-month price target for Tempest Therapeutics Inc is $9.00, about 18.2% above its August 8 closing price of $7.36

Press Release: ID:nGNX4TdTbc

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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