Shares of Tempest Therapeutics (NASDAQ: TPST) soared by more than 60% in morning trading on Friday after the clinical-stage oncology company announced positive randomized data from a Phase 1b/2 clinical study in 40 patients.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
This study indicated that TPST-1120, Tempest’s small molecule PPAR⍺ antagonist, “demonstrated clinically-meaningful improvement in multiple categories when combined with the standard-of-care regimen of atezolizumab and bevacizumab in a randomized comparison to atezolizumab and bevacizumab in the first-line treatment of patients” with liver cancer.
TPST stock has skyrocketed by more than 100% year-to-date.