What's Going On With Tempest Therapeutics Stock?
Portfolio Pulse from Adam Eckert
Tempest Therapeutics Inc (NASDAQ:TPST) shares are trading lower after the company sold about 1.24 million shares of its common stock for gross proceeds of approximately $7 million. This comes after the stock soared nearly 4,000% on Wednesday due to promising liver cancer treatment data. There is still $93 million remaining under the company's previously announced offering of up to $100 million.
October 12, 2023 | 12:56 pm
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NEGATIVE IMPACT
Tempest Therapeutics' stock is trading lower after the company sold shares following a significant surge due to promising liver cancer treatment data.
The company's decision to sell shares after a significant surge in stock price due to positive clinical data is likely causing the stock to trade lower. Investors may be taking profits or may be concerned about dilution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100