Three Directors Resign from Tempest Therapeutics Board Amidst Going Concern Warning
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, resigned from Tempest Therapeutics' Board of Directors, effective May 22, 2026.
Key Events · Executive and Board Changes · TPST
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Multiple Director Resignations
Mr. Stephen Brady, Mr. Michael Raab, and Ms. Christine Pellizzari resigned from the Board of Directors, effective May 22, 2026.
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No Disagreement Stated
The company reported that the resignations were not due to any disagreement regarding operations, policies, or practices.
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Waiver of Retainer Fees
The departing directors waived all accrued and unpaid retainer fees as part of their Separation Agreements.
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Indemnification and Stock Rights Maintained
Their outstanding stock option awards, ownership of shares, and indemnification rights remain unaffected by the resignations.
Analysis · TPST · Life Sciences
The simultaneous resignation of three directors from the Board of Directors is a significant governance event, particularly for a micro-cap company like Tempest Therapeutics that recently issued a 'going concern' warning. While the company stated the resignations were not due to disagreements, such a substantial change in board composition can raise questions about strategic direction, stability, and investor confidence during a critical period for the company's financial viability and ongoing clinical programs.
How filings like this one have moved
In the 30 days to Nov 1, 2026, 40.1% of the 1118 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.35%. 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 $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 filing was assessed with negative market sentiment and an importance score of 8 out of 10.