Tempest Therapeutics faces substantial doubt regarding its ability to continue as a going concern, projecting a cash runway of less than 12 months, with cash reserves dropping sharply to \(7.5 million as of September 30, 2025 (down from \)30.3M at YE 2024). The company is aggressively exploring strategic alternatives, including M&A or partnership, with failure potentially necessitating a winding down of operations.
Management enacted severe cost controls, including a major workforce reduction in April 2025 (triggering $3.2M severance) and transition of the CEO, CFO, and CMO to consulting roles
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