Why Is Cancer Focused Tempest Therapeutics Stock Trading Higher On Thursday?
Portfolio Pulse from Vandana Singh
Tempest Therapeutics Inc. (NASDAQ:TPST) stock surged due to a new agreement with Roche Holdings AG to advance a Phase 3 trial for liver cancer treatment. The trial will evaluate the combination of amezalpat with atezolizumab and bevacizumab. Tempest retains all rights to amezalpat, and the stock rose 23% in premarket trading.
October 10, 2024 | 1:06 pm
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POSITIVE IMPACT
Tempest Therapeutics' stock rose 23% after announcing a Phase 3 trial with Roche for liver cancer treatment, combining amezalpat with atezolizumab and bevacizumab. The positive Phase 2 results and retention of all rights to amezalpat are key factors.
The announcement of a Phase 3 trial with Roche, following positive Phase 2 results, is a significant milestone for Tempest. The stock's 23% rise reflects investor optimism about the potential success of the trial and the company's retention of all rights to amezalpat.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100