Why Is Small-Cap Tempest Therapeutics Stock Trading Higher On Thursday?
Portfolio Pulse from Vandana Singh
Tempest Therapeutics Inc. (NASDAQ:TPST) announced positive feedback from its end-of-Phase 2 meeting with the FDA for its drug amezalpat (TPST-1120) in combination with atezolizumab and bevacizumab to treat hepatocellular carcinoma (HCC). The FDA and Tempest are in broad agreement on the design and statistical plan for the pivotal Phase 3 clinical trial, which is set to start in Q1 2025. TPST stock surged 34.90% following the announcement.
August 15, 2024 | 5:15 pm
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POSITIVE IMPACT
Roche Holding AG’s Genentech, which sells bevacizumab (Avastin) and atezolizumab (Tecentriq), will be involved in the Phase 3 trial with Tempest Therapeutics for treating HCC.
Roche's involvement in the Phase 3 trial with its drugs Avastin and Tecentriq could positively impact its stock as the trial progresses, given the potential for successful outcomes.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Tempest Therapeutics announced positive feedback from the FDA on its Phase 3 trial design for amezalpat in combination with atezolizumab and bevacizumab to treat HCC. The stock surged 34.90% following the news.
The positive feedback from the FDA on the Phase 3 trial design is a significant milestone for Tempest Therapeutics, boosting investor confidence and leading to a substantial increase in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100