$TPST
Tempest Therapeutics, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024057072 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.745M $3.634M
YoY Change 22.63% 25.18%
% of Gross Profit
Research & Development $5.837M $4.340M
YoY Change 32.18% -7.23%
% of Gross Profit
Depreciation & Amortization $155.0K $88.00K
YoY Change 86.75% -29.6%
% of Gross Profit
Operating Expenses $5.837M $4.340M
YoY Change 32.18% -7.23%
Operating Profit -$9.582M -$7.974M
YoY Change 28.27% 5.18%
Interest Expense $372.0K $368.0K
YoY Change 4.79% 6.98%
% of Operating Profit
Other Income/Expense, Net $12.00K $70.00K
YoY Change -110.81% -227.27%
Pretax Income -$9.570M -$7.904M
YoY Change 26.24% 3.51%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.570M -$7.904M
YoY Change 26.24% 3.51%
Net Earnings / Revenue
Basic Earnings Per Share -$0.42 -$0.36
Diluted Earnings Per Share -$0.42 -$0.36
COMMON SHARES
Basic Shares Outstanding 22.22M 22.19M
Diluted Shares Outstanding 22.55M 22.23M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.12M $32.33M
YoY Change 76.8% 41.01%
Cash & Equivalents $31.10M $32.30M
Short-Term Investments
Other Short-Term Assets $35.00K $469.0K
YoY Change -91.09% 11.93%
Inventory
Prepaid Expenses $272.0K $585.0K
Receivables
Other Receivables
Total Short-Term Assets $31.55M $33.50M
YoY Change 70.21% 35.76%
LONG-TERM ASSETS
Property, Plant & Equipment $1.014M $920.0K
YoY Change 0.9% -8.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $448.0K $448.0K
YoY Change 12.56% 4.43%
Total Long-Term Assets $10.62M $10.88M
YoY Change -12.99% -14.02%
TOTAL ASSETS
Total Short-Term Assets $31.55M $33.50M
Total Long-Term Assets $10.62M $10.88M
Total Assets $42.17M $44.38M
YoY Change 37.17% 18.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.357M $1.051M
YoY Change 56.34% -9.16%
Accrued Expenses $2.379M $1.524M
YoY Change -3.06% -39.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.645M $6.458M
YoY Change 190.69% 336.06%
Total Short-Term Liabilities $14.56M $10.69M
YoY Change 68.55% 42.34%
LONG-TERM LIABILITIES
Long-Term Debt $2.008M $4.140M
YoY Change -73.17% -53.67%
Other Long-Term Liabilities $8.663M $8.915M
YoY Change -9.84% -10.11%
Total Long-Term Liabilities $2.008M $4.140M
YoY Change -73.17% -53.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.56M $10.69M
Total Long-Term Liabilities $2.008M $4.140M
Total Liabilities $25.23M $23.75M
YoY Change -1.94% -9.93%
SHAREHOLDERS EQUITY
Retained Earnings -$182.7M -$173.2M
YoY Change 21.03% 20.75%
Common Stock $24.00K $22.00K
YoY Change 84.62% 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.94M $20.63M
YoY Change
Total Liabilities & Shareholders Equity $42.17M $44.38M
YoY Change 37.17% 18.88%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$9.570M -$7.904M
YoY Change 26.24% 3.51%
Depreciation, Depletion And Amortization $155.0K $88.00K
YoY Change 86.75% -29.6%
Cash From Operating Activities -$5.510M -$7.186M
YoY Change -13.8% -13.45%
INVESTING ACTIVITIES
Capital Expenditures $249.0K $168.0K
YoY Change 112.82% 265.22%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$249.0K -$168.0K
YoY Change 112.82% 265.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.557M 450.0K
YoY Change 283.59% 922.73%
NET CHANGE
Cash From Operating Activities -5.510M -7.186M
Cash From Investing Activities -249.0K -168.0K
Cash From Financing Activities 4.557M 450.0K
Net Change In Cash -1.202M -6.904M
YoY Change -77.41% -16.87%
FREE CASH FLOW
Cash From Operating Activities -$5.510M -$7.186M
Capital Expenditures $249.0K $168.0K
Free Cash Flow -$5.759M -$7.354M
YoY Change -11.52% -11.92%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001544227
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-35890
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
Tempest Therapeutics, Inc.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
45-1472564
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
2000 Sierra Point Parkway
CY2024Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 400
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Brisbane
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94005
CY2024Q1 dei City Area Code
CityAreaCode
(415)
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
798-8589
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
22217265
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32326000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39230000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1171000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1133000
CY2024Q1 us-gaap Assets Current
AssetsCurrent
33497000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
40363000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
920000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
840000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9513000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9952000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
448000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
448000
CY2024Q1 us-gaap Assets
Assets
44378000
CY2023Q4 us-gaap Assets
Assets
51603000
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1051000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
845000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1524000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1673000
CY2024Q1 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
139000
CY2023Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
112000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
6458000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4285000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
858000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
952000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
690000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1543000
CY2024Q1 us-gaap Interest And Dividends Payable Current
InterestAndDividendsPayableCurrent
110000
CY2023Q4 us-gaap Interest And Dividends Payable Current
InterestAndDividendsPayableCurrent
113000
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
10691000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9411000
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
89000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
164000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4140000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6264000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8915000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9160000
CY2024Q1 us-gaap Liabilities
Liabilities
23746000
CY2023Q4 us-gaap Liabilities
Liabilities
24835000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22217265
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22217265
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22045255
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22045255
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
22000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
22000
CY2024Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
193777000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
192009000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-173167000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-165263000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20632000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
26768000
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
44378000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
51603000
CY2024Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
4340000
CY2023Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
4678000
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3634000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2903000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7974000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7581000
CY2024Q1 us-gaap Interest Expense
InterestExpense
368000
CY2023Q1 us-gaap Interest Expense
InterestExpense
344000
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
438000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
289000
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
70000
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-55000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-7904000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-7636000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22234225
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22234225
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13763173
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13763173
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
26768000
CY2024Q1 tpst Stock Issuance Costs
StockIssuanceCosts
8000
CY2024Q1 tpst Issuance Of Common Stock At The Market Offering
IssuanceOfCommonStockAtTheMarketOffering
253000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1318000
CY2024Q1 tpst Issuance Of Common Stock Value Under Equity Plan Awards
IssuanceOfCommonStockValueUnderEquityPlanAwards
197000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-7904000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
20632000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
18111000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
44000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
446000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-7636000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
10965000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-7904000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-7636000
CY2024Q1 us-gaap Depreciation
Depreciation
88000
CY2023Q1 us-gaap Depreciation
Depreciation
125000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1318000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
446000
CY2024Q1 tpst Noncash Lease Expense
NoncashLeaseExpense
439000
CY2023Q1 tpst Noncash Lease Expense
NoncashLeaseExpense
432000
CY2024Q1 tpst Noncash Interest And Other Expense Net
NoncashInterestAndOtherExpenseNet
48000
CY2023Q1 tpst Noncash Interest And Other Expense Net
NoncashInterestAndOtherExpenseNet
53000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
38000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
28000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
206000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
12000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1001000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1214000
CY2024Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-3000
CY2023Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
7000
CY2024Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-339000
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-500000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7186000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8303000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
168000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
46000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-168000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46000
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
253000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
44000
CY2024Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
197000
CY2023Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
0
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
450000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
44000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-6904000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-8305000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39673000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31598000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32769000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23293000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
326000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
292000
CY2024Q1 tpst Corporatetaxespaid
Corporatetaxespaid
0
CY2023Q1 tpst Corporatetaxespaid
Corporatetaxespaid
24000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32300000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">—The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to research and development accruals, recoverability of long-lived assets, right-of-use assets, lease obligations, stock-based compensation and income taxes uncertainties and valuation allowances. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates.</span></p>
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
585000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
700000
CY2024Q1 tpst Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
117000
CY2023Q4 tpst Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
337000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
469000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
96000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1171000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1133000
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2033000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1865000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1113000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1025000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
920000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
840000
CY2024Q1 us-gaap Depreciation
Depreciation
88000
CY2023Q1 us-gaap Depreciation
Depreciation
125000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
873000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
626000
CY2024Q1 tpst Accrued Clinical Trial Liability
AccruedClinicalTrialLiability
651000
CY2023Q4 tpst Accrued Clinical Trial Liability
AccruedClinicalTrialLiability
1047000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1524000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1673000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
10600000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22217265
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22217265
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22045255
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22045255
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1.10
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3554112
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.28
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
664775
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.62
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
81699
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.91
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
198742
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
8.31
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3938446
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.68
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1553041
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.66
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
623550
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.23
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
29180
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.59
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2147411
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.13
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3938446
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y10M9D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.68
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2522827000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3938446
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P8Y10M9D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
6.68
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
2522827000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1028582
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y7M17D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.58
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1167566000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1318000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
446000
CY2024Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
51000
CY2023Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
57000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-7904000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-7636000
CY2024Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
22234225
CY2023Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
13763173
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22234225
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22234225
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13763173
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13763173
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3944482
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2153447
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
tpst-20240331_htm.xml Edgar Link completed
0000950170-24-057072-index-headers.html Edgar Link pending
0000950170-24-057072-index.html Edgar Link pending
0000950170-24-057072.txt Edgar Link pending
0000950170-24-057072-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tpst-20240331.htm Edgar Link pending
tpst-20240331.xsd Edgar Link pending
tpst-ex31_1.htm Edgar Link pending
tpst-ex31_2.htm Edgar Link pending
tpst-ex32_1.htm Edgar Link pending