Tempest Therapeutics is a clinical-stage biotech with no approved products, developing cancer therapies across two modalities: CAR-T cell therapies and oral small molecule drugs. Tempest's lead program is TPST-2003, an autologous CAR-T therapy that simultaneously targets two antigens — CD19 and BCMA — for relapsed or refractory multiple myeloma. Most approved CAR-T therapies in myeloma target only BCMA; when tumor cells reduce expression of that antigen, the therapy stops working. TPST-2003's dual-targeting design aims to reduce this "antigen escape" problem. Early clinical data across 36 patients showed a 100% overall response rate, though patient numbers remain small. Tempest's second program is amezalpat, an oral PPARα antagonist that blocks a metabolic pathway tumors exploit to proliferate and evade immune attack. Amezalpat has completed a Phase 2 study in first-line liver cancer, showing a six-month improvement in median overall survival over the standard of care, and is Phase 3-ready pending a partner to fund the pivotal trial. A third program, TPST-1495, is an oral dual EP2/EP4 antagonist in a planned Phase 2 study in a rare hereditary colorectal cancer condition, funded by the National Cancer Institute. Tempest runs a lean model with only four employees, outsourcing manufacturing and clinical operations, and structuring its pipeline so partners bear much of the development cost. Tempest plans to commercialize future products through licensing or co-commercialization partnerships with larger pharma companies.