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TPST Tempest Therapeutics

Millendo Therapeutics is a clinical-stage biopharmaceutical company primarily focused on developing novel treatments for endocrine diseases where current therapies do not exist or are insufficient. Millendo seeks to create distinct and transformative treatments where there is a significant unmet medical need.

Company profile

Ticker
TPST
Exchange
CEO
Julia Owens
Employees
Incorporated
Location
Fiscal year end
Former names
Millendo Therapeutics, Inc., OvaScience, Inc.
SEC CIK
Subsidiaries
Millendo Therapeutics SAS • Millendo Therapeutics US, Inc. • Millendo Therapeutics Ltd • OvaScience Securities Corporation • OvaScience Bermuda Limited • Mars Merger Corp. ...
IRS number
451472564

TPST stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

12 Aug 21
18 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 68.46M 68.46M 68.46M 68.46M 68.46M 68.46M
Cash burn (monthly) (positive/no burn) (positive/no burn) 2.26M 2.38M (positive/no burn) 2.21M
Cash used (since last report) n/a n/a 8.17M 8.6M n/a 7.98M
Cash remaining n/a n/a 60.29M 59.85M n/a 60.48M
Runway (months of cash) n/a n/a 26.7 25.1 n/a 27.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Sep 21 Michael Raab Stock Option Common Stock Grant Acquire A No No 15.15 6,635 100.52K 6,635
6 Aug 21 Ronit Simantov Stock Option Common Stock Grant Acquire A No No 13.6 6,635 90.24K 6,635
12 Jul 21 Nicholas Maestas Stock Option Common Stock Grant Acquire A No No 24.19 23,225 561.81K 23,225

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

27.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 25 0 NEW
Opened positions 25 0 NEW
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 20.53M 0 NEW
Total shares 1.84M 0 NEW
Total puts 27.3K 0 NEW
Total calls 0 0
Total put/call ratio Infinity
Largest owners
Shares Value Change
FMR 647.9K $7.24M NEW
Rock Springs Capital Management 310.16K $3.47M NEW
Foresite Capital Management IV 190.21K $2.13M NEW
FIL 129.58K $1.45M NEW
NEA Management 117.79K $1.32M NEW
Monashee Investment Management 113.64K $1.27M NEW
Maven Securities 106.63K $1.2M NEW
Ikarian Capital 89.87K $1.01M NEW
Vanguard 61.15K $683K NEW
Renaissance Technologies 26.87K $300K NEW
Largest transactions
Shares Bought/sold Change
FMR 647.9K +647.9K NEW
Rock Springs Capital Management 310.16K +310.16K NEW
Foresite Capital Management IV 190.21K +190.21K NEW
FIL 129.58K +129.58K NEW
NEA Management 117.79K +117.79K NEW
Monashee Investment Management 113.64K +113.64K NEW
Maven Securities 106.63K +106.63K NEW
Ikarian Capital 89.87K +89.87K NEW
Vanguard 61.15K +61.15K NEW
Renaissance Technologies 26.87K +26.87K NEW

Financial report summary

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Risks
  • We have incurred significant operating losses since inception and anticipate that we will continue to incur operating losses for the foreseeable future and may never achieve or maintain profitability.
  • We have a limited operating history and have never generated any revenue from product sales, which may make it difficult to assess our future viability.
  • If the Merger is not completed, we would need to raise substantial additional funding to the extent we resume our drug development efforts, which may not be available on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our drug development efforts or other operations.
  • Raising additional capital by issuing equity or debt securities may cause dilution to our existing stockholders, and raising funds through lending and licensing arrangements may restrict our operations or require us to relinquish proprietary rights.
  • We have never obtained marketing approval for a product candidate and we may be unable to obtain, or may be delayed in obtaining, marketing approval for any future product candidates that we may develop.
  • We are exposed to a variety of risks associated with our international operations.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and could limit commercialization of any future product candidate that we may develop.
  • If OvaScience failed to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
  • Regulatory, legislative or self-regulatory/standard developments regarding privacy and data security matters could adversely affect our ability to conduct our business.
  • If we are unable to obtain and maintain patent protection for our technology and products, or if the scope of the patent protection obtained is not sufficiently broad, we may not be able to compete effectively in our markets.
  • We jointly own patents and patent applications with third-parties. Our ability to exploit or enforce these patent rights, or to prevent the third-party from granting licenses to others with respect to these patent rights, may be limited in some circumstances.
  • We have in-licensed patents and patent applications from third-parties. Our ability to exploit or enforce these patent rights, or to prevent the third-party from granting licenses to others with respect to these patent rights, may be limited in some circumstances.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • Intellectual property rights do not necessarily address all potential threats to our business.
  • Third-parties may initiate legal proceedings, which are expensive and time consuming, alleging that we are infringing their intellectual property rights, the outcome of which would be uncertain and could have a material adverse impact on the success of our business.
  • We may become involved in lawsuits to protect or enforce our patents, the patents of our licensors or our other intellectual property rights, which could be expensive, time consuming and unsuccessful.
  • Changes in U.S. patent law or the patent law of other countries or jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • We may not be able to protect our intellectual property rights throughout the world, which could have a material adverse effect on our business.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of their former employers or other third-parties.
  • We may in the future enter into collaborations with third-parties to develop our product candidates. If these collaborations are not successful, our business could be harmed.
  • Our business, preclinical studies and clinical development programs and timelines, our financial condition and results of operations could be materially and adversely affected by the current COVID-19 pandemic.
  • Our employees, independent contractors, principal investigators, consultants, commercial collaborators, service providers and other vendors may engage in misconduct or other improper activities, including historical noncompliance with regulatory standards and requirements, which could have an adverse effect on our results of operations.
  • We may be delayed in our receipt of certain tax benefits that Alizé historically received as a French technology company.
  • Our internal computer systems, or those of our collaborators or other contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs.
  • We may be exposed to significant foreign exchange risk.
  • The risks arising with respect to the historic OvaScience business and operations may be different from what we anticipate, which could lead to significant, unexpected costs and liabilities and could materially and adversely affect our business going forward.
  • The trading price of the shares of our common stock has been and is likely to continue to be volatile, and purchasers of our common stock could incur substantial losses.
  • Future sales of our common stock in the public market could cause our share price to decline.
  • Provisions in our certificate of incorporation and by-laws and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • Concentration of ownership of our common stock among our existing executive officers, directors and principal stockholders may prevent our other stockholders from influencing significant corporate decisions.
  • We are at risk of securities class action and similar litigation.
  • If we fail to maintain proper and effective internal controls, our ability to produce accurate financial statements on a timely basis could be impaired.
  • We expect to continue to incur increased costs as a result of operating as a public company, and our management is required to devote substantial time to compliance with our public company responsibilities and corporate governance practices.
  • Changes in tax laws or regulations could materially adversely affect our company.
  • Our effective tax rate may fluctuate, and we may incur obligations in tax jurisdictions in excess of accrued amounts.
  • Our ability to use net operating losses and certain other tax attributes to offset future taxable income may be subject to limitation.
  • We do not anticipate paying any cash dividends on our common stock in the foreseeable future.
Management Discussion
  • •a $6.1 million decrease in preclinical and clinical development expense primarily related to decrease spend due to discontinuing our development of the livoletide and nevanimibe programs offset by increased spend on MLE-301;
  • •a $1.1 million decrease in compensation and stock-based compensation expenses primarily due to the reduction in force completed in the second quarter of 2020, as a result of the discontinuance of our livoletide program; and
  • •a $0.3 million decrease in other expenses mainly related to a reduction in travel in connection with the COVID-19 pandemic and allocated overhead due to fewer research and development personnel.
Content analysis
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