Tempest Therapeutics gets Nasdaq notice over low stock price

Tempest Therapeutics, Inc. disclosed in an 8-K filing that on November 4, 2026 it received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC notifying the company that for the last 30 consecutive business days, the bid price of its common stock had closed below $1.00 per share, the minimum closing bid price required by Nasdaq Listing Rule 5550(a)(2).¹

The company said the notification has no immediate effect on the listing of its common stock on the Nasdaq Stock Market or on its business operations.¹ Under Nasdaq rules, Tempest has 180 calendar days, or until May 3, 2027, to regain compliance with the minimum bid price requirement.¹ To do so, the stock's closing bid price must reach at least $1.00 per share for 10 consecutive business days before that date.¹

If Tempest does not meet that deadline, it may qualify for a second 180-day period, provided it satisfies Nasdaq's standards for market value of publicly held shares and other initial listing criteria apart from the bid price rule, and notifies Nasdaq of its intent to pursue a reverse stock split if one becomes necessary, according to the filing. Nasdaq must also judge that the company appears capable of resolving the deficiency.¹

The filing states that if Tempest fails to qualify for or complete the second compliance period, Nasdaq will move to delist the shares, though the company would have the right to appeal that decision to a Nasdaq hearings panel.¹

Tempest said it plans to track its stock price through the compliance deadline and weigh steps toward meeting the requirement, according to the filing. The report was signed by Chief Executive Officer Matthew Angel on November 5, 2026.