Tempest CFO Resigns Immediately; Replacement Hired as Hourly Consultant
TPST is trading near its 52-week low of $0.49 (1.1% above the low) on light trading volume (0.1× avg).
Summary
Tempest's CFO Constance Ames resigned effective immediately on October 26, 2026, and the board appointed Stephanie Horn-Warnock as CFO under a consulting engagement at $450 per hour. The change comes as the company runs on minimal cash and asks shareholders on November 9 to approve shares that unlock its Lincoln Park equity line.
Key Events · Executive and Board Changes · TPST
-
CFO Resigns Effective Immediately
Constance Ames confirmed her resignation as Chief Financial Officer and from all other Company positions on October 26, 2026, effective immediately, citing personal considerations unrelated to the Company.
-
Replacement Hired as Hourly Consultant
Stephanie Horn-Warnock, 37, was appointed CFO, Principal Financial and Accounting Officer, Treasurer and Corporate Secretary effective immediately, serving under an October 28, 2026 engagement letter at $450 per hour plus expenses and a 5.0% indirect cost allocation.
-
Finance Leadership Turns Over Pre-Vote
The change comes ahead of the November 9 shareholder meeting, where the definitive proxy asks holders to approve share issuances that unlock the $50M Lincoln Park equity line.
-
Cash Pressure Background
The last 10-Q (2026-05-14) reported a $27.7M net loss and a going-concern warning, and the Q2 2026 8-K reported only $0.8M in cash.
Analysis · TPST · Life Sciences
Tempest lost its CFO abruptly on October 26 and replaced her with a consultant paid $450 per hour rather than a salaried executive. That structure is unusual for a public company and points to cost pressure: the last 10-Q carried a going-concern warning and only $0.8M of cash at Q2. The filing lands two weeks before the November 9 shareholder vote on share issuances needed to unlock the $50M Lincoln Park equity line, so the finance function is changing hands at the exact moment the company needs to draw capital. No severance, transition terms or reason beyond 'personal considerations' were disclosed.
How filings like this one have moved
In the 30 days to Oct 31, 2026, 31.4% of the 1757 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TPST was trading at $0.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $9.9M. The 52-week trading range was $0.49 to $10.93. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.