Sometimes, biotech stocks like Tempest Therapeutics (NASDAQ:TPST) can have incredible runs up, at least percentage-wise. They often start low but go screaming to the upside, and those who manage to buy in early can see phenomenal results. That’s what happened to Tempest, as it shot up over 2,171% following a data release about its product line.
Tempest Therapeutics’ focus is on oncology, which means that in many cases it’s taking on cancer. And the latest reports about its new drug, TPST-1120, is delivering some very exciting results in its early study phases. The latest data package took a look at TPST-1120, when used with atezolizumab and bevacizumab, and how that package works without TPST-1120 getting involved. The results were impressive; the combined effort of TPST-1120, atezolizumab, and bevacizumab produced a 30% ORR rate against just atezolizumab and bevacizumab alone, which could only deliver a 13.3% ORR rate.
The news will no doubt prove encouraging, particularly since TPST-1120 is designed to fight a kind of liver cancer known as advanced or metastatic hepatocellular carcinoma. Likely out of an excess of caution, when announcing this news, Tempest also put together a “limited duration shareholder rights plan” that kicked in immediately. Tempest officials rushed to note that the move wasn’t in response to a specific takeover move. Thus, it’s more likely done out of a potential move that could show up later.
Is TPST a Good Stock to Buy?
Turning to Wall Street, a look at the last five days in trading for TPST stock shows a largely flat share price, at least, until this morning. Shares went briefly vertical and then continued to climb ever since. Though a dip did follow at one point, shares recovered and even surpassed the point where the dip occurred, as indicated by the graphic below.
