@revuelto @Bellbent I am here for a $50m PIPE, partnership/licensing agreement with upfront cash or a buyout. Company has clearly applied for a Nasdaq extension, which they will get until mid Feb.
There is no way a company with Phase 3 ready asset with a clear pathway to approval just delists/goes bankrupt. Their biggest problem isnt raising money (every biotech is doing it in current market environment), its sub letting their properties to reduce liabilities on th3 balance sheet that are causing them to be non-compliant with min equity rule. Not easy finding tenants these days.
I've seen this story before. The one where ypu think it's dead, then all of a sudden...boom. See Harpoon Therapeutics ($HARP).
$TPST ...It could portend knowledge of another (larger) private placement....
...Harpoon $HARP, for example, had a small one in March 2023; a larger one in October '2023...only 2 months before they hired Centerview to sell the company in December 2023...
and they were subsequently sold to Merck just 2 months later in January '2024...
$TPST ....This one's for you @thaboss8854 ...since you seem to relish the older posts of yesteryear ...!
---Events which occurred with Harpoon Therapeutics- $HARP just before their buyout in early '2024 by Merck: the most interesting parallels to Tempest still today, having been the tiny market-cap value beforehand & Roche having provided free Tecentriq medicine....
---Harpoon Therapeutics $HARP lays off half of its employees in '2023....
---Company effected a 1-for-10 reverse stock split of shares in late September.
---Stock was around $1.38 -In early September, 2023, & the Market Cap stood at around $35 million.
---ROCHE was supplying Tencentriq for free to Harpoon in Trials for its lead molecule. (Sound familiar ?!)
----Other projects stopped. -Harpoon hires CenterView Partners in mid-December '2023.
----January 8th, 2024, Merck acquires Harpoon for $23 a share, or $680,000,000.
For better or for worse, history often tends to repeat itself
$CTMX (NP)
Appointed Chief Business Officer (AH news) 🧐
Served in similar role at $HARP (sold to $MRK in Jan 2024 for $680M (+118% premium to prior close)
Of note, HPN328 (Tcell engager) was at a similar stage of development (phase 1/2 study in SCLC & neuroendocrine tumors)
$TPST ...If the data & therapy are safe, efficacious, and serve hard-to-treat cancers, such as HCC, then the stock price will (eventually) be priced at a premium.
- Case in point: $HARP Harpoon Therapeutics:
Oct 9th, '2023 stock price $3.23 w/ $87m market cap
Jan. 8th, '2024 (3 months later) stock price $23 with Merck's buyout for $680m dollar market cap
- That's a 7-fold increase. Lou @lousjamsession is entirely correct. Tempest is a super-tiny microcap with a big IP portfolio whose actual value, even at fire-sale prices, can mean explosive price appreciation. --Even if Roche finally decided to pay a ridiculous $250 million price tag to take out Tempest, you're still looking at $60+ a share. It can happen. It pays to research & understand the therapies in which you're invested.
$TPST $HARP ... Adding more details/events that occurred with Harpoon just before their buyout:
-Company also effected a 1-for-10 reverse stock split of shares. Stock was $0.89
-On September 2nd, Market Cap stood at $35 million.
-Acquired 4 months later for $680m
..Very similar path Tempest appears to be taking💍
$TPST History often repeats itself.
Case example for Tempest for a potential buyout this Spring:
-Harpoon Therapeutics $HARP lays off half of its employees in '2023....
--Stock sells for roughly $1.28 in early September '23.
-Roche was supplying Tencentriq for free to Harpoon in Trials for lead molecule. (Sound familiar ?!)
-Other projects stopped.
-Harpoon hires CenterView Partners in mid-December '2023.
-January 8th, 2024, Merck acquired Harpoon for $23 a share, or $680m.
Sound familiar ???
$TPST ... Reposting here: ...The eventual fate for the late Harpoon $HARP answers a lot of questions as to whether TPST is 'saleable' to anyone other than Roche. Although HARP had an identical supply agreement with Roche, to supply its blockbuster Tecentriq for combo trials w/ Harpoon’s HPN328 therapy in '23 for small tumors (much like Tecentriq is being supplied to Tempest for TPST-1120), MERCK had its eye the whole time on Harpoon's IP & acquired them first. All despite the fact that Roche was supplying its own medicine in the hopes of improving efficacy of its own Tencentriq + HPN328. --Source: Fierce Biotech 1/08/24… “..Harpoon is testing its anti-DLL3 candidate, HPN328, as a monotherapy and in combination with Roche’s Tecentriq, a rival to Merck’s Keytruda..”..In other words, Roche ought not delay (again) lest they lose out to Merck (again) even if it's sold for a measly $350 million ($100/share)
$TPST Reposting here: ...The eventual fate for late Harpoon $HARP answers a lot of questions as to whether TPST is 'saleable' to anyone other than Roche. Although HARP had an identical supply agreement with Roche, to supply its blockbuster Tecentriq for combo trials w/ Harpoon’s HPN328 therapy in '23 for small tumors (much like Tecentriq is being supplied to Tempest for TPST-1120), MERCK had its eye the whole time on Harpoon's IP & acquired them first. All despite the fact that Roche was supplying its own medicine in the hopes of improving efficacy of its own Tencentriq + HPN328. --Source: Fierce Biotech 1/08/24… “..Harpoon is testing its anti-DLL3 candidate, HPN328, as a monotherapy and in combination with Roche’s Tecentriq, a rival to Merck’s Keytruda..”..In other words, Roche ought not delay (again) lest they lose out to Merck (again) even if it's sold for a measly $350 million ($100/share).
@Slapshot22 Actually, your hypothesis is well thought-out, and quite realistic, really! (Even Jim might agree!)...This exact same scenario played out with $HARP Harpoon, about 6 months before early '2024, they layed-off half their workforce when the stock was about a $1.28. In January /2024, Merck swooped in and bought them for $23 a share for $680 million. $TPST
@Bulltrader988 $TPST ....Not necessarily a bad thing. In '2023, similar slim-down layoffs occurred at Harpoon Therapeutics $HARP in the Summer when the stock was about a $1.28 a share. ...Not 6 months later in January '2024, Merck scooped them up for $23 a share, or $680 million dollars. No one ever really knows what's going on behind the scenes.
