Three Directors Resign from Tempest Therapeutics Board Amid Financial Concerns
TPST sits 25% above its 52-week low of $1.5 on light trading volume (0.3× avg).
Summary
Three directors, Stephen Brady, Michael Raab, and Christine Pellizzari, have resigned from Tempest Therapeutics' board, effective May 22, 2026. No reasons for their departures were disclosed. This follows the company's recent Q1 2026 report of a $27.7 million net loss, cash reduced to $1.8 million, and a 'going concern' warning in its 10-K. While the company has also announced positive clinical data and a strategic pivot to CAR-T therapy, the simultaneous resignation of multiple board members without explanation raises questions about internal stability and governance during a critical period for the small biotech.
At the time of this announcement, TPST was trading at $1.87 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $27.5M. The 52-week trading range was $1.50 to $12.23. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.