Tempest reports incentive grants pursuant to Nasdaq Listing Rule 5635(c)(4)

BRISBANE, Calif., September 20, 2024 (GLOBE NEWSWIRE) — Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage biotechnology company developing first-in-class¹ targeted and immune-mediated therapeutics to fight cancer, today announced that the Compensation Committee of the Company's Board of Directors has granted two employees nonqualified stock options to purchase an aggregate of 79,500 shares of its common stock under the Company's 2023 Incentive Plan.

The stock options vest over a four-year period, with 25% of each option vesting on the first anniversary of the employee's start of employment and 1/48 of all shares vesting monthly thereafter, subject to continued employment on each vesting date.