Tempest Therapeutics (NASDAQ:TPST) stock is taking off on Wednesday as the clinical-stage oncology company prepares to release new study results.
According to a press release from the company, it intends to release updated study results from a Phase 1b/2 combination study of TPST-1120 with atezolizumab and bevacizumab. This study uses these drugs as a first-line treatment of hepatocellular carcinoma.
Tempest Therapeutics says that it will release those results before markets open this morning. The company also intends to hold a conference call at 8:30 a.m. Eastern to provide investors with additional insight into the study.
What This Means for TPST Stock
Investors are already excited about what these study results could be. That has the company’s stock seeing incredibly heavy trading on Wednesday morning. As of this writing, more than 11.5 million shares of the stock have changed hands. To put that number in perspective, Tempest Therapeutics’ daily average trading volume is about 542,000 shares.
It makes sense that TPST stock would be rising higher ahead of study results. Now the company just has to deliver good news. If it fails to do so, investors are likely going to selloff their stakes in TPST, causing it to lose the momentum it’s gained this morning.
TPST stock is up 325% as of Wednesday morning but was down 80.5% when markets closed yesterday.
Investors on the lookout for more of the most recent stock market stories will want to stick around!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Wednesday! That includes the biggest pre-market stock movers this morning, the latest news on Tupperware Brands Corp (NYSE:TUP) stock and more. All of that news is ready to go at the links below!
More Wednesday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
