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California-based Tempest Therapeutics is laying off 21 of its 26 full-time employees. The cuts come while the biotech is exploring strategic alternatives, including a merger or acquisition, as it tries to move its investigational PPARα antagonist into late-stage development.

According to Tempest, its options include a partnership or licensing deal, as well as a merger or an acquisition.

Tempest Therapeutics, Inc., a clinical-stage biotechnology company developing first-in-classi targeted and immune-mediated therapeutics to fight cancer, announced that management will participate in the following upcoming investor conferences.

Tempest Therapeutics, Inc. announced new positive data from the ongoing global randomized Phase 1b/2 clinical study in which amezalpat2, Tempest’s PPAR⍺ antagonist, delivered a six-month improvement in median overall survival advantage when combined with atezolizumab and bevacizumab in a comparison to atezolizumab and bevacizumab alone in the first-line treatment of patients with unresectable or metastatic hepatocellular carcinoma.

Tempest Therapeutics, Inc., a clinical-stage biotechnology company developing first-in-classi targeted and immune-mediated therapeutics to fight cancer, reported financial results for the quarter ended March 31, 2024, and provided a corporate update.