Tempest Therapeutics (TPST, Financial) has secured Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for TPST-1495. This novel dual receptor inhibitor targets prostaglandin signaling and is aimed at treating Familial Adenomatous Polyposis (FAP), a significant step in addressing this rare genetic condition.
This latest designation marks an important milestone for Tempest Therapeutics, enhancing the company's mission to develop innovative solutions for conditions with substantial unmet medical needs. It adds to the company's previous achievements, including prior regulatory designations for amezalpat, another promising therapy in their pipeline for hepatocellular carcinoma.
Orphan Drug Designation is highly sought after as it provides various benefits, including market exclusivity upon approval, tax credits for clinical research, and exemption from certain FDA fees. These incentives are designed to encourage the development of treatments for rare diseases.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Tempest Therapeutics Inc (TPST, Financial) is $68.00 with a high estimate of $130.00 and a low estimate of $9.00. The average target implies an upside of 834.07% from the current price of $7.28. More detailed estimate data can be found on the Tempest Therapeutics Inc (TPST) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Tempest Therapeutics Inc's (TPST, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
