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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