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.
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.