Tempest reports Q2 2026 results, in vivo CAR-T collaboration with Senlang Biotechnology
Tempest ended the quarter with $0.8 million in cash and outlined plans for TPST-4003 dosing in China in the fourth quarter of 2026.
Tempest Therapeutics reported financial results for the quarter ended June 30, 2026, on August 13, 2026, alongside a business update on its in vivo CAR-T pipeline.
The company said it executed a strategic partnership with Hebei Senlang Biotechnology to collaborate on the development of Tempest's certain proprietary in vivo CAR-T product candidates, including its CD7-targeted next-generation in vivo CAR-T product candidate, TPST-4003, beginning with an investigator-initiated trial in China evaluating TPST-4003 in approximately 10 patients with myasthenia gravis or multiple sclerosis, with first patient enrollment and dosing expected in the fourth quarter of 2026.1
On its other lead program, TPST-2003, the company disclosed positive interim results across two ongoing clinical trials, the REDEEM-1 Phase 1/2a trial in relapsed/refractory multiple myeloma and the POEMS-1 Phase 1 trial in POEMS syndrome, both sponsored and conducted by Tempest's partner, Novatim Immune Therapeutics, with a 100% complete response rate among all 15 CAR-T-naive efficacy evaluable patients treated across the two trials.1 The company also reported a favorable safety profile with no Grade 3 or higher cytokine release syndrome or immune effector cell-associated neurotoxicity syndrome in the REDEEM-1 trial.1
Tempest said it selected Cincinnati Children's AGCTC as lead contract development and manufacturing partner for TPST-2003, and that AGCTC took delivery of the TPST-2003 lentiviral vector, supporting plans to initiate the first potentially registrational study of the dual-targeting CAR-T in relapsed/refractory multiple myeloma, including patients with extramedullary disease, later in the year.1
On finances, Tempest ended the quarter with $0.8 million in cash and cash equivalents, compared to $7.7 million on December 31, 2025.1 The company said the decline was primarily due to one-time transaction-associated costs incurred prior to or upon closing of the Asset Acquisition in February 2026, offset by private placement proceeds of $1.7 million in March 2026 and $1.7 million from a warrant inducement in the second quarter.1 Separately, Tempest entered into a definitive agreement for the inducement of exercise of certain outstanding warrants for approximately $2 million in gross proceeds.1
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