Tempest Therapeutics Inc. has reported its financial results for the second quarter of 2025, highlighting a decrease in cash and cash equivalents to $14.3 million from $30.3 million at the end of 2024. This reduction is primarily attributed to cash used in operating activities, partially offset by net proceeds from a registered direct offering and an at-the-market offering program totaling $6.9 million. The net loss for the quarter was $7.9 million, an improvement from the $9.6 million loss in the same period of 2024. Research and development expenses decreased to $3.9 million from $5.8 million, primarily due to a strategic re-prioritization. General and administrative expenses increased to $4.1 million, up from $3.7 million, mainly due to one-time separation costs. For the first half of 2025, Tempest reported a net loss of $18.7 million, compared to $17.5 million in the first half of 2024. Research and development expenses increased to $11.5 million, driven by costs associated with preparing for a pivotal Phase 3 trial of amezalpat for hepatocellular carcinoma $(HCC)$ treatment. The company also announced significant business developments, including clearance to proceed with a pivotal trial of amezalpat combination therapy for first-line HCC in China, and receiving orphan drug designations from both the European Medicines Agency and the FDA for different treatments. Tempest presented new data reinforcing amezalpat's potential as a novel cancer treatment at the 2025 AACR Annual Meeting.