TPST Tempest Therapeutics, Inc.
Price Chart
Executive Summary
Tempest Therapeutics received a Nasdaq deficiency letter on May 19, 2026, for failing the minimum stockholders' equity requirement ($822,000 reported vs. $2.5M required). Additionally, board resignations triggered non-compliance with independent director and committee composition rules. The company has 45 days (until July 6, 2026) to submit a compliance plan, with a possible 180-day extension. Delisting risk is elevated given the company's $27M market cap, recent dilutive S-3 filings, and lack of alternative compliance paths.
Actionable Insight
Delisting is highly probable unless the company raises significant capital (likely via dilutive offering) or executes a reverse split to boost equity. Monitor for a compliance plan filing by July 6, 2026. If the plan is rejected, an appeal to a Nasdaq Hearings Panel is possible but uncertain. The stock faces severe liquidity and institutional ownership risk if delisted.
Key Facts
- Stockholders' equity of $822,000 as of March 31, 2026, far below the $2.5M minimum requirement
- Company does not meet alternative Nasdaq standards (MVLS of $35M or net income of $500K)
- Board resignations of Michael Raab and Christine Pellizzari triggered non-compliance with independent director, audit, compensation, and nominating committee rules
- Company has 45 days (until July 6, 2026) to submit a compliance plan; Nasdaq may grant up to 180 additional days
- Two S-3 shelf registrations filed in March-April 2026, indicating prior capital needs and shareholder dilution
- No cure period available for board composition violations due to multiple vacancies
Financial Impact
Stockholders' equity deficit of ~$1.68M vs. Nasdaq minimum; $27M market cap at risk of delisting
Risk Factors
- Actual delisting from Nasdaq, severely reducing institutional ownership and liquidity
- Need for dilutive capital raise to regain compliance, further pressuring common stock
- Inability to attract independent directors to fix board composition issues
- Going-concern risk if financing cannot be secured
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-237207 |
| Document: 0001193125-26-237207-index-headers.html | 0001193125-26-237207 |
| Document: 0001193125-26-237207-index.html | 0001193125-26-237207 |
| Document: 0001193125-26-237207.txt | 0001193125-26-237207 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 29, 2026
11d ago
|
8-K
| $1.45 $1.27 | ▼ −12.41% | ▼ −9.66% | $1.27 (−12.41%) |
|
May 29, 2026
11d ago
|
Press Release
| $1.53 $1.27 | ▲ +16.99% | ▲ +16.70% | $1.27 (+16.99%) |
|
May 22, 2026
18d ago
|
8-K
| $1.77 $1.31 | ▲ +25.99% | ▲ +27.20% | $1.27 (+28.25%) |
|
May 22, 2026
18d ago
|
8-K
| $1.77 $1.31 | ▲ +25.99% | ▲ +27.20% | $1.27 (+28.25%) |
|
May 14, 2026
26d ago
|
8-K
| $1.83 $1.86 | ▼ −1.64% | ▼ −0.68% | $1.27 (+30.60%) |
|
Apr 29, 2026
5w ago
|
Press Release
| $1.74 $2.15 | ▲ +23.56% | ▲ +20.45% | $1.27 (−27.01%) |
|
Apr 6, 2026
9w ago
|
EFFECT
| $1.59 $2.14 | ▲ +34.59% | ▲ +30.46% | $1.27 (−20.13%) |
|
Apr 2, 2026
9w ago
|
S-3
| $1.59 $2.05 | ▲ +28.93% | ▲ +25.31% | $1.27 (−20.13%) |
|
Mar 30, 2026
10w ago
|
Press Release
| $1.52 $1.56 | ▲ +2.63% | ▼ −1.67% | $1.27 (−16.45%) |
|
Mar 11, 2026
12w ago
|
Press Release
| $2.40 $2.16 | ▼ −10.00% | ▼ −7.81% | $1.27 (−47.08%) |
US Market Status
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