Tempest Therapeutics, Inc. has reconvened its special meeting of stockholders to discuss a significant governance proposal. The meeting, held on October 14, 2026, aimed to approve a Certificate of Amendment to the Company’s Restated Certificate of Incorporation. This amendment would replace certain supermajority voting requirements and allow stockholder action by written consent.

The outcome of the meeting is crucial for Tempest, as the proposal did not receive enough votes for approval. At the meeting, 11,004,101 shares, representing 74.3% of the 14,806,997 shares of common stock outstanding as of the record date, were present either virtually or by proxy. However, the company decided to adjourn the meeting to allow more time for stockholders to cast their votes.

Background

Tempest Therapeutics, Inc., incorporated in Delaware, operates within the pharmaceutical preparations sector, classified under SIC code 2834. The company is listed on the Nasdaq under the ticker symbol TPST. The firm focuses on developing innovative therapies for cancer and other serious diseases.

What the Filing Says

According to the SEC filing dated October 20, 2026, the special meeting was originally convened and adjourned on July 27, 2026, and had been reconvened multiple times since then. The filing states, “The purpose of the Special Meeting is to approve a Certificate of Amendment to the Company’s Restated Certificate of Incorporation.” The next meeting is scheduled for November 12, 2026, at 2:00 p.m. Eastern Time.

Impact

This decision affects Tempest's governance structure and may influence how the company engages with its shareholders in the future. The pharmaceutical industry, particularly companies focused on innovative therapies, may find themselves revisiting their governance policies as they strive for greater shareholder participation.

What's Next

The Special Meeting will reconvene on November 12, 2026. Proxies previously submitted will remain valid unless revoked, and stockholders who do not wish to change their votes need not take any action.