RTTNews | Jul 6, 2021 11:01AM EDT

11:01 Tuesday, July 6, 2021 (RTTNews.com) - Shares of micro-cap Tempest Therapeutics Inc. (TPST) are currently gaining over 13% on Tuesday morning despite no stock-related statement from the clinical stage oncology company.

TPST is currently trading at $12.70, up $1.48 or 13.19%, on the Nasdaq. The stock has traded between $10.61 and $41.55 in the 52 week period.

Last week, Tempest closed its acquisition of Millendo Therapeutics Inc. in an all-stock deal. The combined company plan to focus on Tempest's oncology pipeline of small molecule therapeutics, including TPST-1495 and TPST-1120, to address a wide range of tumors.

Tempest stockholders collectively own 81% of the outstanding shares of the combined company and Millendo stockholders own 19% of the outstanding shares.

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