Tempest’s TPST-2003 dual-targeting CD19/BCMA CAR-T therapy generated a 100% complete response rate in all 15 CAR-T-naïve patients across the REDEEM-1 and POEMS-1 Phase 1/2a trials, with no Grade ≥3 CRS or ICANS observed. A prior investigator-initiated study showed a median progression-free survival of 23.1 months and 44 rrMM patients have been treated to date across three studies.

Cincinnati Children’s Applied Gene and Cell Therapy Center was chosen as Tempest’s lead contract development and manufacturing partner and has taken delivery of the TPST-2003 lentiviral vector. This partnership enables the planned initiation of the first registrational study of a dual-targeting CAR-T therapy for relapsed/refractory multiple myeloma, including extramedullary disease patients, later this year.

Tempest appointed Andrew Fang, Ph.D., as Head of Business Development to lead global strategic partnerships, licensing and corporate transactions, with an emphasis on China outreach. In February 2026 the company closed an asset acquisition from Factor Bioscience and Erigen, gaining next-generation CAR-T assets and targeting a China BLA filing in 2027, supported by a private placement raising up to $6 million.

As of March 31, 2026, Tempest held $1.8 million in cash and equivalents, down from $7.7 million at year end 2025, following transaction costs offset by $1.7 million net offering proceeds. Q1 net loss was $27.7 million ($2.53/share) versus $10.9 million a year earlier, driven by $22.1 million of acquired in-process R&D, $5.4 million G&A expenses and a $7.5 million reduction in R&D spending due to reprioritization.