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TPST on Nasdaq

Tempest Therapeutics, Inc.

In its 2026 annual report the company says: “We are a clinical-stage biotechnology company advancing a diversified portfolio of cell therapy and small molecule product candidates.”3 It is headquartered in Brisbane, California.1 Its shares trade on Nasdaq under the symbol TPST.1

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Last updated Oct 21, 2026.

Overview

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  • TickerTPST on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersBrisbane, California1
  • Incorporated inDE2
  • Business address2000 Sierra Point Parkway, Suite 400, Brisbane, Ca 940052
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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We are a clinical-stage biotechnology company advancing a diversified portfolio of cell therapy and small molecule product candidates. In February 2026, we expanded our pipeline through a strategic transaction under which we acquired rights to a portfolio of dual-targeting chimeric antigen receptor T-cells (“CAR-T”) product candidates with the potential to treat certain blood cancers, solid tumors and immunology indications, including TPST-2003, an autologous CD19/B-cell maturation antigen (“BCMA”) CAR-T therapy currently in clinical development for relapsed or refractory multiple myeloma (“rrMM”).3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income456789-$26.6M in 2025−41% since 2019
-$60.0M-$40.0M-$20.0M02019: -$45.4M-$45.4M20192020: -$19.3M-$19.3M2020−57%2021: -$27.0M-$27.0M2021+40%2022: -$34.6M-$34.6M2022+28%2023: -$29.2M-$29.2M2023−16%2024: -$42.0M-$42.0M2024+44%2025: -$26.6M-$26.6M2025−37%
Net income456789-$26.3M in 2025−41% since 2019
-$60.0M-$40.0M-$20.0M02019: -$44.6M-$44.6M20192020: -$19.2M-$19.2M2020−57%2021: -$28.3M-$28.3M2021+47%2022: -$35.7M-$35.7M2022+26%2023: -$29.5M-$29.5M2023−17%2024: -$41.8M-$41.8M2024+42%2025: -$26.3M-$26.3M2025−37%

Every line of the income statement as filed: the last 2 fiscal years, latest first.9

Period ending2025-12-312024-12-31
Research and development$12.6M$28.5M
General and administrative$14.0M$13.6M
Operating loss-$26.6M-$42.0M
Interest expense-$207.0K-$1.3M
Interest income and other income (expense), net$520.0K$1.5M
Other income (expense), net$313.0K$183.0K
Provision for income taxes$0$0
Net loss-$26.3M-$41.8M
Net loss per share of common stock and pre-funded warrants, basic-$6.33-$19.50
Net loss per share of common stock and pre-funded warrants, diluted-$6.33-$19.50
Weighted-average shares used in computing basic net loss per share4.1M shares2.1M shares
Weighted-average shares of common stock and pre-funded warrants outstanding, diluted4.1M shares2.1M shares

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Corporate structure

Tempest Therapeutics, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Tempest Therapeutics, Inc.

  • Versant Venture Capital VI, L.P. Filed SCHEDULE 13D/A on Tempest Therapeutics, Inc., latest Apr 2, 2026 (9 filings since Feb 11, 2022)
  • Matthew Angel Filed SCHEDULE 13D/A on Tempest Therapeutics, Inc., latest Mar 25, 2026 (2 filings since Feb 10, 2026)
  • SABBY MANAGEMENT, LLC Filed SCHEDULE 13G on Tempest Therapeutics, Inc., latest Jan 21, 2026
  • EcoR1 Capital, LLC Filed SC 13G/A on Tempest Therapeutics, Inc., latest Feb 14, 2024 (2 filings since Feb 14, 2023)
  • Rock Springs Capital Management LP Filed SC 13G/A on Tempest Therapeutics, Inc., latest Feb 14, 2024 (3 filings since Jan 3, 2022)
  • FMR LLC Filed SC 13G/A on Tempest Therapeutics, Inc., latest Feb 9, 2024
  • LAV Regulus Ltd Filed SC 13G on Tempest Therapeutics, Inc., latest Feb 17, 2022
  • CITADEL ADVISORS LLC Filed SC 13G/A on Tempest Therapeutics, Inc., latest Feb 14, 2022
  • Ikarian Capital, LLC Filed SC 13G/A on Tempest Therapeutics, Inc., latest Feb 14, 2022
  • ROCHE FINANCE LTD Filed SC 13G/A on Tempest Therapeutics, Inc., latest Feb 14, 2022
  • Tempest Therapeutics, Inc. Brisbane, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Tempest Therapeutics, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.1M9 Dec 31, 2025$2.2M9 Dec 31, 2024−6.7%
Accumulated depreciation$1.5M9 Dec 31, 2025$1.3M9 Dec 31, 2024+10.1%
Property and equipment, net$605.0K9 Dec 31, 2025$886.0K9 Dec 31, 2024−31.7%
Operating-lease assets (leased space)$7.5M9 Dec 31, 2025$8.6M9 Dec 31, 2024−12.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$7.7M9 Dec 31, 2025$30.3M9 Dec 31, 2024−74.5%

Properties, in its own words

In January 2022, we entered into an agreement to lease approximately 20,116 square feet of laboratory and office space at 2000 Sierra Point Parkway, Brisbane, California 94005, which we occupied and began operating as our new headquarters beginning in December 2022.

We believe our existing facilities are sufficient for our needs for the foreseeable future. To meet the future needs of our business, we may lease additional or alternative space, and we believe suitable additional or alternative space will be available in the future on commercially reasonable terms.

Item 2 of the 10-K filed Mar 30, 2026.3

Leadership

Who has led Tempest Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christopher A. Kroeger2017–2018
  2. Julia C. Owens2018–2020
  3. Louis J. Arcudi2021
  4. Stephen R. Brady2021–2026
  5. Matthew Angel2026–now

Chair

  1. Julia C. Owens2021

President

  1. Arthur Tzianabos2014–2015
  2. Julia C. Owens2018–2020
  3. Louis J. Arcudi2021
  4. Thomas W. Dubensky2021–2023
  5. Stephen R. Brady2023–2026
  6. Matthew Angel2026–now

Chief financial officer

  1. Christophe Couturier2016–2017
  2. Louis J. Arcudi2018–2020
  3. Jennifer Lynn Minai-Azary2021
  4. Nicholas Maestas2025–now

Chief operating officer

  1. Christopher A. Bleck2012
  2. Alison Francis Lawton2013
  3. Paul W.d. Chapman2016
201520202025
Board members and other officers (48)

Former names

  • Millendo Therapeutics, Inc.Nov 15, 2018 to Jul 1, 20212
  • OvaScience, Inc.Apr 9, 2012 to Dec 6, 20182

Timeline

  1. Sep 28, 20268-K Entered a material agreement; Executive or director change; Regulation FD disclosure69
  2. Sep 17, 20268-K Entered a material agreement; Regulation FD disclosure70
  3. Sep 16, 20268-K Shareholder vote; Other events71
  4. Sep 15, 20268-K Entered a material agreement; Unregistered sale of shares72
  5. Aug 24, 20268-K Executive or director change73
  6. Aug 18, 20268-K Shareholder vote; Other events74
  7. Aug 13, 20268-K Entered a material agreement; Unregistered sale of shares75
  8. Aug 13, 20268-K Results of operations76
  9. Jul 28, 20268-K Shareholder vote; Other events77
  10. Jul 22, 20268-K Entered a material agreement; Regulation FD disclosure78
  11. Jun 23, 20268-K Shareholder vote79
  12. Jun 4, 20268-K Executive or director change; Regulation FD disclosure80
  13. Feb 6, 2026New chief executive Matthew Angel becomes CEO13
  14. Jun 29, 2021New chief executive Stephen R. Brady becomes CEO15
  15. Mar 2, 2021New chief executive Louis J. Arcudi becomes CEO14
  16. Dec 11, 2018New chief executive Julia C. Owens becomes CEO16
  17. Sep 11, 2017New chief executive Christopher A. Kroeger becomes CEO17

Calendar

Coming up

  1. Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.79) a share, on Nov 5, 2025.81

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results76
  2. May 14, 2026Reported quarterly or annual results82
  3. Mar 30, 2026Reported quarterly or annual results83
  4. Nov 5, 2025Reported quarterly or annual results84
  5. Aug 11, 2025Reported quarterly or annual results85
  6. May 13, 2025Reported quarterly or annual results86
  7. Mar 27, 2025Reported quarterly or annual results87
  8. Nov 12, 2024Reported quarterly or annual results88

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

272 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 70 major events, 68 insider forms, 22 large holders, 4 private raises, 86 other. The latest 20:

  1. Oct 14, 2026D EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 2, 20263 EDGAR
  4. Oct 2, 2026424B3 PROSPECTUS EDGAR
  5. Oct 1, 2026EFFECT EDGAR
  6. Sep 28, 20268-K CURRENT REPORT EDGAR
  7. Sep 25, 2026S-3 REGISTRATION STATEMENT EDGAR
  8. Sep 17, 20268-K EDGAR
  9. Sep 16, 2026DEFA14A EDGAR
  10. Sep 16, 20268-K EDGAR
  11. Sep 15, 20268-K EDGAR
  12. Sep 1, 2026424B3 EDGAR
  13. Aug 31, 2026EFFECT EDGAR
  14. Aug 27, 2026CORRESP EDGAR
  15. Aug 27, 2026UPLOAD EDGAR
  16. Aug 24, 20268-K EDGAR
  17. Aug 21, 2026S-1 EDGAR
  18. Aug 18, 2026DEFA14A EDGAR
  19. Aug 18, 20268-K EDGAR
  20. Aug 13, 202610-Q EDGAR

The 272 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

10 open-market trades by officers, directors and large owners since October 2021: 8 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 24, 2026Angel MatthewCEO and PresidentBuy231,482$2.16$500.0KForm 4
Mar 24, 2026Angel MatthewCEO and PresidentBuy231,482$2.16$500.0KForm 4
Aug 12, 2024Versant Venture Capital VI, L.P.10% ownerSale387,999$1.10$426.8KForm 4
Aug 8, 2024Versant Venture Capital VI, L.P.10% ownerSale400,000$1.35$540.0KForm 4
Jul 3, 2024Brady Stephen RPresident and CEOBuy35,000$2.11$73.8KForm 4
Jul 2, 2024Whiting SamuelChief Medical OfficerBuy4,672$2.13$10.0KForm 4
Jun 28, 2024Trojanowski JustinCorporate ControllerBuy7,500$2.16$16.2KForm 4
Apr 29, 2022Woiwode ThomasDirectorBuy2,118,644$2.36$5.0MForm 4
Jan 7, 2022Dubensky Thomas W.PresidentBuy2,000$4.78$9.6KForm 4
Jan 6, 2022Whiting SamuelChief Medical OfficerBuy1,700$4.80$8.2KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 29, 2026Raised $4.1 million in a private offering of equity Form D: 1 investor so far Form D
  2. Mar 20, 2026Raised $2 million in a private offering of equity Form D: 3 investors so far Form D
  3. Apr 26, 2022Raised $15 million in a private offering of equity Form D: 2 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Sabby Management, LLC511,286$567.5K4.7%+493,430
Vanguard Capital Management LLC233,888$259.6K0.0%No change
Geode Capital Management, LLC86,625$96.2K0.0%−365
Vanguard Fiduciary Trust Co68,908$76.5K0.0%No change
BlackRock, Inc.39,068$43.4K0.0%No change
Squarepoint Ops LLC30,900$34.3K0.0%New
Northern Trust Corp20,136$22.4K0.0%+6,083
Citadel Advisors LLC19,820$22.0K0.0%New
UBS Group AG5,636$6.3K0.0%+1,103
Tower Research Capital LLC (TRC)3,922$4.4K0.0%+1,132
Morgan Stanley2,022$2.2K0.0%−36
Osaic Holdings, Inc.1,513$1.7K0.0%−16
Federation des caisses Desjardins du Quebec292$3240.0%No change
Jones Financial Companies Lllp239$2580.0%No change
Barclays PLC222$2460.0%New
SBI Securities Co., Ltd.56$620.0%No change
Parallel Advisors, LLC18$200.0%No change
Bnp Paribas Financial Markets3$30.0%No change
Caitong International Asset Management Co., Ltd3$30.0%New
Royal Bank Of Canada28$00.0%+1

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Tempest Therapeutics, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTempest Therapeutics, Inc.1
  • CIK0001544227
  • Employer ID (EIN)45-14725643
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address2000 Sierra Point Parkway, Suite 400, Brisbane, CA 940051
  • Phone415-798-85891
  • Shares outstanding14,806,997 as of May 8, 202611
  • Public float$30.1M as of Jun 30, 20253
  • AuditorErnst & Young LLP, Chicago, Illinois PCAOB ID 42; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceApr 9, 20121
  • Filings1,043 in all: 4 (369), 8-K (177), 3 (72), SC 13G/A (51), 10-Q (43), 424B3 (30), SC 13G (27), SC 13D/A (26)1
    All 46 form types

    DEFA14A (22), EFFECT (21), S-8 (20), 424B5 (15), CORRESP (15), DEF 14A (15), UPLOAD (15), 10-K (14), S-3 (13), SC 13D (9), CT ORDER (8), 425 (7), D (7), S-8 POS (6), 4/A (5), ARS (5), PRE 14A (5), S-1 (4), S-3/A (4), S-4/A (4), SCHEDULE 13D/A (4), 10-12G/A (3), 10-K/A (3), 144 (3), D/A (3), POS AM (3), 8-A12B (2), 8-K/A (2), S-4 (2), 10-12G (1), 424B2 (1), 8-A12B/A (1), CERTNAS (1), DEFM14A (1), RW (1), S-1/A (1), SCHEDULE 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Jul 17, 2026
    Latest 8-K (8-K) Sep 28, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par valueTPSTThe Nasdaq Stock Market LLC
Series A Junior Participating Preferred Purchase RightsThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Tempest Therapeutics, Inc. names in Item 1A of its 10-K filed Mar 30, 2026: 72 risks under these headings, as written.3

  • Risks Related to Our Financial Position and Capital Needs
  • There is substantial doubt regarding our ability to continue as a going concern. We will require significant additional funding to finance our operations, which may not be available on acceptable terms or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our product development efforts or our operations.
  • Raising additional capital may cause dilution to our stockholders, restrict our operations or require us to relinquish proprietary rights.
  • Our ability to raise capital may be limited by applicable laws and regulations.
  • We have a history of operating losses, and we may not achieve or sustain profitability. We anticipate that we will continue to incur losses for the foreseeable future. If we fail to obtain additional funding to conduct our planned research and development efforts, we could be forced to delay, reduce or eliminate our product development programs or commercial development efforts.
  • Our limited operating history may make it difficult for you to evaluate the success of our business to date and to assess our future viability.
  • Risks Related to Our Business and Strategy
  • Integrating the Assets with our business may be more difficult, costly or time consuming than expected and we may fail to realize the anticipated benefits of the Asset Acquisition.
  • We are in the early stages of integrating the Assets into our business, and unknown or unanticipated risks associated with the Assets could adversely affect us.
  • We must attract and retain highly skilled employees to succeed.
  • We will need to expand our organization in the future, and we may experience difficulties in managing this growth, which could disrupt our operations.
  • Future acquisitions or strategic alliances could disrupt our business and harm our financial condition and results of operations.
The other 62 risks
  • Our ability to utilize our net operating loss carryforwards and tax credit carryforwards may be subject to limitations.
  • Risks Related to Our Product Development and Regulatory Approval
  • If we are unable to develop, obtain regulatory approval for and commercialize our product candidates, including TPST-2003, TPST-1495 and amezalpat, or any of our future product candidates, or if we experience significant delays in doing so, our business will be materially harmed.
  • Success in preclinical studies and earlier clinical trials for our product candidates may not be indicative of the results that may be obtained in later clinical trials, which may delay or prevent obtaining regulatory approval.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • We may derive results and data for TPST-2003 and TPST-2206 from clinical trials led by Novatim in China; our role in any such trials and our access to the clinical results and data, will be limited and there is no assurance that the clinical data from any such trials will be accepted or considered by the FDA, or other comparable regulatory authorities.
  • We plan to work with our collaborator, Novatim, to conduct clinical trials for TPST-2003 and TPST-2206 outside the United States, including China, and the FDA and similar foreign regulatory authorities may not accept data from such trials conducted in locations outside of their jurisdiction.
  • Interim and preliminary data from our or our licensors' clinical trials that we may announce or publish from time to time may change as more patient data becomes available and are subject to audit and verification procedures that could result in material changes in the final data.
  • We currently are investigating amezalpat and TPST-1495 in combination with other approved therapies, and we may in the future investigate product candidates in combination with other approved and unapproved therapies, which exposes us to additional risks.
  • Even if we complete the necessary preclinical studies and clinical trials, we cannot predict when, or if, we will obtain regulatory approval to commercialize a product candidate and the approval may be for a narrower indication than we seek.
  • Our current and any future product candidates may cause undesirable and/or unforeseen side effects or be perceived by the public as unsafe, which could delay or prevent their advancement into clinical trials or regulatory approval, limit the commercial potential or result in significant negative consequences.
  • We may not be successful in our efforts to expand our pipeline of product candidates and develop marketable products.
  • Any product candidate for which we obtain marketing approval will be subject to extensive post-marketing regulatory requirements and could be subject to post-marketing restrictions or withdrawal from the market, and we may be subject to penalties if we fail to comply with regulatory requirements or if we experience unanticipated problems with our product candidates, when and if any of them are approved.
  • Our failure to obtain regulatory approval in international jurisdictions would prevent us from marketing our product candidates outside the United States.
  • Risks Related to Commercialization and Manufacturing
  • The commercial success of our product candidates will depend upon their degree of market acceptance by providers, patients, patient advocacy groups, third-party payors and the general medical community.
  • The pricing, insurance coverage and reimbursement status of newly approved products is uncertain. Failure to obtain or maintain adequate coverage and reimbursement for our product candidates, if approved, could limit our ability to market those products and decrease our ability to generate product revenue.
  • If third parties on which we depend to conduct our planned preclinical studies or clinical trials do not perform as contractually required, fail to satisfy regulatory or legal requirements or miss expected deadlines, our development program could be delayed with adverse effects on our business, financial condition, results of operations and prospects.
  • We face significant competition in an environment of rapid technological change, and it is possible that our competitors may achieve regulatory approval before us or develop therapies that are more advanced or effective than our therapies, which may harm our business, financial condition and our ability to successfully market or commercialize our current or future product candidates.
  • We may rely on third parties to manufacture our clinical product supplies, and we may have to rely on third parties to produce and process our product candidates, if approved.
  • The manufacture of drugs is complex, and our third-party manufacturers may encounter difficulties in production. If any of our third-party manufacturers encounter such difficulties, our ability to provide adequate supply of our product candidates for clinical trials, our ability to obtain marketing approval, or our ability to provide supply of our product candidates for patients, if approved, could be delayed or stopped.
  • If we are unable to establish sales and marketing capabilities or enter into agreements with third parties to market and sell our product candidates, we may be unable to generate any revenues.
  • We may not be successful in finding strategic collaborators for continuing development of certain of our future product candidates or successfully commercializing or competing in the market for certain indications.
  • Risks Related to Government Regulation
  • The FDA regulatory approval process is lengthy and time consuming, and we may experience significant delays in the clinical development and regulatory approval of our product candidates.
  • We may seek Breakthrough Therapy designation or Fast Track designation by the FDA for one or more of our product candidates but may not receive such designation. Even if we secure such designation, it may not lead to a faster development or regulatory review or approval process and it does not increase the likelihood that our product candidates will receive marketing approval.
  • We may attempt to secure FDA approval of our product candidates through the accelerated approval pathway. If we are unable to obtain accelerated approval, we may be required to conduct additional preclinical studies or clinical trials beyond those that we currently contemplate, which could increase the expense of obtaining, and delay the receipt of, necessary marketing approvals.
  • Although we have received orphan drug designation for amezalpat and may continue to seek orphan drug designation for some or all of our current or future product candidates, we may be unsuccessful in obtaining Orphan Drug Designation for our product candidates or transfer of designations obtained by others for future product candidates, and, even if we obtain
  • such designation, we may be unable to maintain the benefits associated with Orphan Drug Designation, including the potential for market exclusivity.
  • Enacted and future legislation may increase the difficulty and cost for us to commercialize and obtain marketing approval of our product candidates and may affect the prices we may set.
  • The FDA’s ability to review and approve new products may be hindered by a variety of factors, including budget and funding levels, ability to hire and retain key personnel, statutory, regulatory and policy changes and global health concerns.
  • We and the third parties with whom we work are subject to stringent and evolving U.S. and foreign laws, regulations, and rules, contractual obligations, industry standards, policies and other obligations related to data privacy and security, and our (or the third parties with whom we work) actual or perceived failure to comply with them could harm our business.
  • If our information technology systems or those of third parties with whom we work, or our data, are or were compromised, we could experience adverse consequences, including disclosure of sensitive information, damage to our reputation, and significant financial and legal exposure.
  • Our employees, principal investigators, CROs, CMOs and consultants may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
  • Obtaining and maintaining regulatory approval of our product candidates in one jurisdiction does not mean that we will be successful in obtaining regulatory approval of our product candidates in other jurisdictions.
  • Our operations and relationships with future customers, providers and third-party payors will be subject to applicable anti-kickback, fraud and abuse and other healthcare laws and regulations, which could expose us to penalties including criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • If we fail to comply with environmental, health, and safety laws and regulations, we could become subject to fines or penalties or incur costs that could harm our business.
  • Changes in tax laws or regulations could materially adversely affect us.
  • Our collaboration with Novatim subjects us to risks and uncertainties relating to challenged and changing relations between the United States and China.
  • U.S.-China trade relations may adversely impact our supply chain operations and business.
  • Risks Related to Our Intellectual Property
  • Our success depends in part on our ability to obtain, maintain and protect our intellectual property. It is difficult and costly to protect our proprietary rights and technology, and we may not be able to ensure their protection.
  • Our owned and in-licensed patents and patent applications may not provide sufficient protection of our product candidates or result in any competitive advantage.
  • Our strategy of obtaining rights to key technologies through in-licenses may not be successful.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • Third-party claims of intellectual property infringement may prevent, delay or otherwise interfere with our product discovery and development efforts.
  • We may be involved in lawsuits to protect or enforce our patents or the patents of our licensors, which could be expensive, time-consuming and unsuccessful and could result in a finding that such patents are unenforceable or invalid.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Third parties may assert that our employees or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Changes in patent law in the United States and in non-U.S. jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • If we do not obtain patent term extension for any product candidates we may develop, our business may be materially harmed.
  • Intellectual property discovered through government funded programs may be subject to federal regulations such as “march-in” rights, certain reporting requirements and a preference for U.S.-based companies. Compliance with such regulations may limit our exclusive rights and limit our ability to contract with non-U.S. manufacturers.
  • Risks Related to Ownership of Our Common Stock and Other General Matters
  • If the benefits of the Asset Acquisition do not meet the expectations of investors or securities analysts, the market price of our common stock may decline.
  • The trading price of the shares of our common stock has been and is likely to continue to be volatile, and purchasers of our common stock could incur substantial losses.
  • Unstable market and economic conditions may have serious adverse consequences on our business, financial condition and share price.
  • Our common stock is thinly traded and our stockholders may be unable to sell their shares quickly or at market price.
  • We are a smaller reporting company, and the reduced reporting requirements applicable to smaller reporting companies may make our common stock less attractive to investors.
  • Our Chief Executive Officer and principal stockholder collectively own a substantial portion of our common stock.
  • Risks Related to Our Status as a Public Company and Other General Matters
  • We expect to continue to incur increased costs as a result of operating as a public company, and our management is required to devote substantial time to compliance with our public company responsibilities and corporate governance practices.
  • If we fail to maintain proper and effective internal controls, our ability to produce accurate financial statements on a timely basis could be impaired.
  • If we are unable to maintain listing of our common stock on Nasdaq or any stock exchange, our stock price could be adversely affected and the liquidity of our stock and our ability to obtain financing could be impaired and it may be more difficult for our stockholders to sell their securities.
  • We or the third parties upon whom we depend may be adversely affected by natural disasters and other calamities, including public health crises, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • Our business entails a significant risk of product liability and our ability to obtain sufficient insurance coverage could have a material and adverse effect on our business, financial condition, results of operations and prospects.
  • Provisions in our certificate of incorporation and by-laws and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.

Legal proceedings

We are not currently a party to any material legal proceedings. From time to time, we may be involved in legal proceedings or subject to claims incident to the ordinary course of business. Regardless of the outcome, such proceedings or claims can have an adverse impact on us because of defense and settlement costs, diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained.

The opening of Item 3, Legal Proceedings.3

Sources

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