Tempest Therapeutics extends limited duration of stockholder rights plan

Tempest Therapeutics announced that its Board of Directors has adopted an amendment to its existing limited duration stockholder rights plan to extend the duration of the Rights Plan until the Annual Meeting of Stockholders. The Board did not adopt the extension to the Rights Plan in response to a specific takeover threat. In addition, the Rights Plan does not prevent the Board from engaging with parties or accepting an acquisition proposal if the Board believes that it is in the best interests of Tempest and all of its stockholders.