By Sabela Ojea
Tempest Therapeutics is exploring strategic alternatives for the business, including mergers, partnerships, acquisition, joint ventures and licensing agreements.
Shares rose 9.2% to $7.81 in post-market trading. Through Wednesday's close, the stock has fallen 85% over the past 12 months.
The clinical-stage biotechnology company on Wednesday said that it hired MTS Health Partners as financial adviser for its strategic evaluation process.
"Given the positive data and commercial potential with this [company] pipeline, as well as the clearance from the Food and Drug Administration on the lead program's pivotal study, we believe this is a rare opportunity for a partner," Chief Executive Stephen Brady said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 09, 2025 17:01 ET (21:01 GMT)
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