Tempest Therapeutics Inc. has reported its financial results for the first quarter of 2025. The company ended the quarter with $21.5 million in cash and cash equivalents, a decrease from $30.3 million as of December 31, 2024. This reduction was primarily attributed to cash used in operating activities, partially offset by $1.5 million in proceeds from their at-the-market offering program. The net loss for the quarter amounted to $10.9 million, an increase from the $7.9 million net loss recorded in the same period in 2024. Research and development expenses rose to $7.6 million from $4.3 million in the previous year, largely due to increased costs associated with contract research and manufacturing in preparation for the pivotal Phase 3 trial of amezalpat for treating first-line hepatocellular carcinoma $(HCC)$. General and administrative expenses were reported at $3.3 million. Tempest also announced significant updates in its business operations, including the presentation of new data on amezalpat at the 2025 AACR Annual Meeting, which reinforced its potential as a novel cancer treatment. The company received Orphan Drug and Fast Track designations by the FDA for amezalpat (TPST-1120) for treating patients with HCC, and an Orphan Drug designation for TPST-1495 for familial adenomatous polyposis (FAP). Additionally, the FDA issued a "Study May Proceed" letter for a Phase 2 trial of TPST-1495 for FAP, supported financially by the NCI's Division of Cancer Prevention. Tempest has also repaid $3.5 million in full satisfaction of their Loan and Security Agreement with Oxford Finance LLC and announced plans to explore strategic alternatives to advance its clinical-stage programs while maximizing stockholder value, including a reduction in workforce completed at the end of April 2025.