Piper Sandler lowered the firm’s price target on Tempest Therapeutics (TPST) to $5 from $8 and keeps an Overweight rating on the shares following quarterly results. The FDA issued a “study may proceed” letter for the planned Phase III trial of 600mg BID amezalpat + Tecentriq+Avastin vs. Tecentriq+Avastin in 1st-line hepatocellular carcinoma. Tempest anticipates starting the study in Q1 2025 and reporting data within 3 years.
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