Tempest Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
August 23 2024 - 4:30PM
Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage
biotechnology company developing first-in-class1 targeted and
immune-mediated therapeutics to fight cancer, today announced that
the Compensation Committee of the Company’s Board of Directors
granted one employee nonqualified stock options to purchase an
aggregate of 60,000 shares of its common stock under the Company’s
2023 Inducement Plan.
The stock options will vest over a four-year
period, with 25% of each of the options vesting on the first
anniversary of such employee’s start date, and 1/48th of the total
shares vesting monthly thereafter, subject to continued employment
on each vesting date.
About Tempest
TherapeuticsTempest Therapeutics is a clinical-stage
biotechnology company advancing a diverse portfolio of small
molecule product candidates containing tumor-targeted and/or
immune-mediated mechanisms with the potential to treat a wide range
of tumors. The company’s novel programs range from early research
to later-stage investigation in a randomized global study in
first-line cancer patients. Tempest is headquartered in Brisbane,
California. More information about Tempest can be found on the
company’s website at www.tempesttx.com.
Investor & Media Contacts:
Sylvia WheelerWheelhouse Life Science
Advisorsswheeler@wheelhouselsa.com
Aljanae ReynoldsWheelhouse Life Science
Advisorsareynolds@wheelhouselsa.com
1 If approved by the FDA
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