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- Going Concern (new) — Company now discloses substantial doubt about ability to continue operations for 12 months, citing cash of $7.7M insufficient to fund projected expenses.
Tempest pivots to CAR-T therapy via $20M asset deal, cuts staff 84%, flags going-concern doubt
Filed March 30, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 27, 2025 · ~1 min read
Key Changes
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high
Company acquired dual-targeting CAR-T programs for 8.3M shares in Feb 2026, expanding from small-molecule-only to cell therapy. Lead asset TPST-2003 showed 100% response rates in early myeloma trials.
Business: CAR-T acquisition verify on EDGAR → -
high
Cash fell 75% to $7.7M, now sufficient for less than 12 months. Company disclosed substantial doubt about ability to continue as going concern for first time.
MD&A: Going-concern doubt verify on EDGAR → -
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Workforce reduced from 25 to 4 employees (84% cut) as company shifted to capital-efficient model relying on partner-funded trials and external development.
Business: Employee headcount verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 3, 2026 · How we verify