<SEC-DOCUMENT>0001193125-21-201157.txt : 20210628
<SEC-HEADER>0001193125-21-201157.hdr.sgml : 20210628
<ACCEPTANCE-DATETIME>20210628085129
ACCESSION NUMBER:		0001193125-21-201157
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20210625
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Changes in Control of Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210628
DATE AS OF CHANGE:		20210628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Millendo Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001544227
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				451472564
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35890
		FILM NUMBER:		211050148

	BUSINESS ADDRESS:	
		STREET 1:		110 MILLER AVENUE, SUITE 100
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48104
		BUSINESS PHONE:		734-845-9000

	MAIL ADDRESS:	
		STREET 1:		110 MILLER AVENUE, SUITE 100
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OvaScience, Inc.
		DATE OF NAME CHANGE:	20120308
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d196630d8k.htm
<DESCRIPTION>8-K
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<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): June&nbsp;25, 2021 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Tempest Therapeutics, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">45-1472564</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>7000 Shoreline Court, Suite 275,</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>South San Francisco, California</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>94080</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (415)
<FONT STYLE="white-space:nowrap">798-8589</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Millendo Therapeutics, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>110 Miller Avenue, Suite 100 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Ann Arbor, Michigan </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section&nbsp;12(b) of the Act: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Trading</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Symbol</B></P></TD>
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<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Name of each exchange</B></P>
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<TD VALIGN="top" ALIGN="center"><B>Common Stock, par value $0.001 per share</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>TPST</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>The Nasdaq Capital Market</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Entry into a Material Definitive Agreement. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a result of the Merger (as defined in Item 2.01 of this Current Report on Form 8-K), the following agreements of TempestTx, Inc. (formerly Tempest
Therapeutics, Inc.) (&#147;<B><I>Tempest</I></B>&#148;) effectively became the agreements of Tempest Therapeutics, Inc., formerly Millendo Therapeutics, Inc. (the &#147;<B><I>Company</I></B>&#148;). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Oxford Loan and Security Agreement </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;15,
2021, Tempest entered into a loan and security agreement with Oxford Finance LLC (&#147;<B><I>Oxford</I></B>&#148;) to borrow a term loan amount of $35.0&nbsp;million to be funded in three tranches. Tranche A of $15.0&nbsp;million was funded to
Tempest on January&nbsp;15, 2021. Tranche B of $10.0&nbsp;million will be available through March&nbsp;31, 2022 contingent upon achievement of each of the following: i) receipt of at least $50.0&nbsp;million in Series C equity capital, ii)
initiation of the Phase 1 combination study of TPST-1495 or monotherapy expansion study, and iii) initiation of Phase 2 trial of TPST-1120 or the 1L Triplet Collaboration study. Tranche C of $10.0&nbsp;million is available at Oxford&#146;s option.
The term loan matures on August&nbsp;1, 2025 and has an annual floating interest rate of 7.15% which is an index rate plus 7%. The index rate is the greater of (i) <FONT STYLE="white-space:nowrap">30-day</FONT> US LIBOR or (ii) 0.15%. A copy of the
loan and security agreement is attached as Exhibit 10.1 hereto and is incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Lease </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;22, 2019, Tempest entered into a lease agreement with <FONT STYLE="white-space:nowrap">ARE-San</FONT> Francisco No.&nbsp;17, LLC pursuant to
which Tempest leases its corporate headquarters are located at 7000 Shoreline Court, Suite 275, South San Francisco, California 94080 where it occupies approximately 9,780 square feet of research and development laboratory. The lease was
subsequently amended on June&nbsp;28, 2019. The term of the lease ends in February 2024. A copy of the lease is attached as Exhibit 10.2 hereto, and a copy of an amendment to the lease is attached as Exhibit 10.3 hereto, and each is incorporated
herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;2.01. Completion of Acquisition or Disposition of Assets. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;25, 2021, the Company completed its business combination with Tempest in accordance with the terms of the Agreement and Plan of Merger, dated as
of March&nbsp;29, 2021 (the &#147;<B><I>Merger Agreement</I></B>&#148;), by and among the Company, Tempest and Mars Merger Corp., a Delaware corporation and a wholly owned subsidiary of the Company (&#147;<B><I>Merger Sub</I></B>&#148;), pursuant to
which, among other matters, Merger Sub merged with and into Tempest, with Tempest continuing as a wholly owned subsidiary of the Company and the surviving corporation of the merger (the &#147;<B><I>Merger</I></B>&#148;). Effective at 5:00 p.m.
eastern time on June&nbsp;25, 2021, the Company effected a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-for-15</FONT></FONT> reverse stock split </P>
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of its common stock (the &#147;<B><I>Reverse Stock Split</I></B>&#148;), effective at 5:01 p.m. eastern time, the Company completed the Merger, and effective at 5:02 p.m. eastern time, the
Company changed its name to &#147;Tempest Therapeutics, Inc.&#148; Following the completion of the Merger, the business conducted by the Company became primarily the business conducted by Tempest, which is a clinical-stage oncology company focused
on leveraging its deep scientific understanding of cancer biology and medicinal chemistry to develop and advance novel orally available therapies for the treatment of solid tumors. Unless noted otherwise, all references to share and per share
amounts in this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> reflect the Reverse Stock Split. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the terms of the Merger
Agreement, immediately prior to the effective time of the Merger, each share of Tempest&#146;s preferred stock was converted into a share of Tempest&#146;s common stock. At the closing of the Merger, the Company issued an aggregate of approximately
5,365,768 shares of its common stock to Tempest stockholders, based on an exchange ratio of 0.0322 shares of the Company&#146;s common stock for each share of Tempest common stock outstanding immediately prior to the Merger, including those shares
of common stock issued upon conversion of the Tempest preferred stock, resulting in approximately 6,635,303 shares of the Company&#146;s common stock being issued and outstanding immediately following the effective time of the Merger. The exchange
ratio was determined through <FONT STYLE="white-space:nowrap">arm&#146;s-length</FONT> negotiations between the Company and Tempest. The Company also assumed all of the outstanding and unexercised stock options and warrants to purchase shares of
Tempest capital stock. The assumed options continue to be governed by the terms of the Tempest 2011 and 2017 Equity Incentive Plans under which the options were originally granted (the &#147;<B><I>Tempest Plans</I></B>&#148;). Upon the closing of
the Merger, the Company also assumed the Tempest Plans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The issuance of the shares of the Company&#146;s common stock issued to the former stockholders
of Tempest was registered with the U.S. Securities and Exchange Commission (the &#147;<B><I>SEC</I></B>&#148;) on the Company&#146;s Registration Statement on Form <FONT STYLE="white-space:nowrap">S-4,</FONT> as amended (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-255198)</FONT> (the &#147;<B><I>Registration Statement</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The shares of the Company&#146;s common
stock listed on The Nasdaq Capital Market, previously trading through the close of business on Friday, June&nbsp;25, 2021 under the ticker symbol &#147;MLND,&#148; will commence trading on The Nasdaq Capital Market, on a post-Reverse Stock Split
adjusted basis, under the ticker symbol &#147;TPST,&#148; on June&nbsp;28, 2021. The Company&#146;s common stock is represented by a new CUSIP number, 87978U108. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing description of the Merger Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the Merger
Agreement, which was filed as Exhibit 2.1 on the Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by the Company on March&nbsp;29, 2021, and is incorporated herein by reference. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;2.03.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Creation of a Direct Financial Obligation or an Obligation under an
<FONT STYLE="white-space:nowrap">Off-Balance</FONT> Sheet Arrangement of a Registrant </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information set forth in Item 1.01 of this
Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> regarding the loan and security agreement with Oxford is incorporated by reference into this Item 5.01. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;3.03. Material Modification to Rights of Security Holders. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company convened and adjourned its special meeting of stockholders on June&nbsp;22, 2021 (the &#147;<B><I>Special Meeting</I></B>&#148;). At the Special
Meeting, the Company&#146;s stockholders approved an amendment to the restated certificate of incorporation of the Company (the &#147;<B><I>Stock Split Amendment</I></B>&#148;) to effect the Reverse Stock Split of the Company&#146;s common stock.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;24, 2021, the Company filed the Stock Split Amendment with the Secretary of State of the State of Delaware to effect the Revert Stock Split
effective as of 5:00 p.m. on June&nbsp;25, 2021. As a result of the Reverse Stock Split, the number of issued and outstanding shares of the Company&#146;s common stock immediately prior to the Reverse Stock Split was reduced to a smaller number of
shares, such that every 15 shares of the Company&#146;s common stock held by a stockholder immediately prior to the Reverse Stock Split, including shares of the Company&#146;s common stock issued to former Tempest stockholders in connection with the
Merger, were combined and reclassified into one share of the Company&#146;s common stock. Immediately following the Reverse Stock Split, there were approximately 1,269,536 shares of the Company&#146;s common stock outstanding. </P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting
from the Reverse Stock Split were rounded down to the nearest whole number, and each stockholder who would otherwise be entitled to a fraction of a share of common stock upon the Reverse Stock Split (after aggregating all fractions of a share to
which such stockholder would otherwise be entitled) is, in lieu thereof, entitled to receive a cash payment determined by multiplying the closing price per share of Common Stock on the Nasdaq Capital Market on the day prior to the Closing, by the
fraction of a share of Common Stock to which each stockholder would otherwise be entitled. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;25, 2021, the Company filed a certificate of
amendment (the &#147;<B><I>Name Change Amendment</I></B>&#148;) to the Company&#146;s certificate of incorporation with the Secretary of State of the State of Delaware to change the name of the Company to &#147;Tempest Therapeutics, Inc.&#148;
effective as of 5:02 p.m. on June&nbsp;25, 2021. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing descriptions of the Stock Split Amendment and the Name Change Amendment are not complete
and are subject to and qualified in their entirety by reference to the Stock Split Amendment and the Name Change Amendment, copies of which are attached hereto as Exhibit 3.1 and Exhibit&nbsp;3.2, respectively, and are incorporated herein by
reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.01. Changes in Control of Registrant. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information set forth in Item 2.01 of this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> regarding the Merger and the information set
forth in Item 5.02 of this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> regarding the Company&#146;s board of directors and executive officers following the Merger are incorporated by reference into this Item 5.01. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Directors </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with the
Merger Agreement, immediate prior and effective upon the closing of the Merger, Louis J. Arcudi, III, Julia C. Owens, Ph.D., Carol G. Gallagher, Pharm.D., Carole L. Neuchterlein, J.D., John P. Howe, III, M.D., and James M. Hindman resigned from the
Company&#146;s board of directors and committees of the board of directors on which they respectively served, which resignations were not the result of any disagreements with the Company relating to the Company&#146;s operations, policies or
practices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Merger Agreement provides that at or immediately after the closing of the Merger, the size of the Company&#146;s board of directors will
be fixed at seven members consisting of one member designated by the Company, who is Geoff Nichol, M.B., Ch.B., M.B.A., and six members designated by Tempest. In accordance with the Merger Agreement, at the closing of the Merger on June&nbsp;25,
2021, the board of directors and its committees were reconstituted, with Stella Xu and Geoff Nichol appointed as Class&nbsp;I directors of the Company whose terms expire at the Company&#146;s 2022 annual meeting of stockholders, Tom Dubensky and Tom
Woiwode appointed as Class&nbsp;II directors of the Company whose terms expire at the Company&#146;s 2023 annual meeting of stockholders, Stephen Brady and Mike Raab appointed as Class&nbsp;III directors of the Company whose terms expire at the
Company&#146;s 2024 annual meeting of stockholders, and with one additional person to be appointed to the Company&#146;s board of directors as a director. Mike Raab was appointed as the chairman of the Board. In addition, Mike Raab (Chair), Tom
Woiwode, and Stella Xu were appointed to the Company&#146;s Audit Committee; Tom Woiwode (Chair) and Stella Xu were appointed to the Compensation Committee; and Mike Raab (Chair) and Geoff Nichol were appointed to the Nominating and Governance
Committee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Mike Raab</B> was appointed to the board of directors of the Company and as the chairman of the board of directors of the Company in
connection with the closing of the Merger. Prior to the Merger, Mr. Raab served as a member of the board of directors of Tempest since December 2018. Mr. Raab has served as Ardelyx&#146;s president and chief executive officer since March 2009.
Before Ardelyx, he was a partner at New Enterprise Associates (NEA), one of the world&#146;s largest and most successful venture capital firms, where he specialized in healthcare investments focusing on the biotechnology and pharmaceutical sectors.
Prior to joining NEA in 2002, Mr. Raab spent 15 years in commercial and operating leadership roles in the biotech and pharmaceutical industries. He was senior vice president, therapeutics and general manager of the renal division at Genzyme
Corporation, a Sanofi company. In this position, he launched and oversaw the sales growth of sevelamer, the leading phosphate binder for the treatment of hyperphosphatemia, with over $1.0 billion in worldwide sales in 2013. Mr. Raab was also
instrumental in the worldwide launch of Genzyme&#146;s therapies for Gaucher disease, Ceredase and Cerezyme. Mike also spent two years with Genzyme&#146;s diagnostic products and services division. Previous to Genzyme, he held business development
and sales and marketing positions at Repligen and Bristol-Myers. Mr. Raab received his B.A. from DePauw University. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Geoff Nichol, M.B., Ch.B.,
M.B.A.</B>, was appointed to the Company&#146;s board of directors in December 2019. Dr. Nichol has nearly 30 years&#146; experience in drug development. He has served as Chief Medical Officer at BioMarin Pharmaceutical Inc., where he manages an
active portfolio of clinical development programs, since November 2016. From July 2011 to November 2016, he was Executive Vice President, Research and Development at Sangamo BioSciences, where he managed the preclinical development of several IND
candidates. From September 2002 to January 2010, he was Senior Vice President of Development at Medarex, where he was responsible for a portfolio of clinical development programs. From February 1996 to September 2002, he was Vice President at
Novartis, where he managed a clinical development therapeutic area, United States Medical Affairs, and Global Project and Portfolio Management. From December 1989 to February 1996, he held various positions up to Group Medical Director, Clinical
Development at SmithKline Beecham, where he was responsible for anti-infective development and medical affairs. Dr. Nichol received a B.Med.Sc., M.B., Ch.B., or the equivalent of an M.D. in the U.S., from Otago University Medical School in New
Zealand and an M.B.A. from Warwick University in the United Kingdom. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tom Woiwode, Ph.D.</B> was appointed to the Company&#146;s board of directors in
connection with the closing of the Merger. Prior to the Merger, Dr.&nbsp;Woiwode served as a member of the board of directors of Tempest since March 2018. Dr. Woiwode has been working with Versant since 2002, and has served in both operational and
investment roles during that time. He was the start-up CBO for Amira (sale), Synosia (sale) and Flexion (2014 IPO), and was the COO of Okairos where he led the process that culminated in the acquisition by GSK. Since being promoted to Managing
Director in 2014, Dr.&nbsp;Woiwode has assumed the lead role in multiple investments including Crispr (2016 IPO), Audentes (2016 IPO), Annapurna (merged to form Adverum), Gritstone (2018 IPO), Crinetics (2018 IPO), Jecure (sale) Anokion, Therachon,
Vividion, Tempest, Aligos, CODA and Passage. Prior to joining Versant, he was a medicinal chemist at XenoPort, a start-up biotech company that completed an IPO in 2005. Dr.&nbsp;Woiwode earned his Ph.D. in chemistry from Stanford University. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stella Xu, Ph.D.</B> was appointed to the Company&#146;s board of directors in connection with the closing of the Merger. Prior to the Merger, Dr. Xu
served as a member of the board of directors of Tempest since March 2018. Dr. Xu has served as Managing Director of Quan Capital since September 2017. From September 2012 to August 2017, Dr. Xu served as Vice President and site head of Roche
Innovation Center Shanghai, and a member of the global management team for Roche&#146;s Immunology, Inflammation &amp; Infectious Diseases Discovery and Translation Area. Dr. Xu has served as member of the board of directors for Centrexion
Therapeutics Corporation since January 2018, Zidan Medical, Inc. since October 2018, NextCure, Inc. since November 2018, Walking Fish Therapeutics, Inc. since June 2019, Design Therapeutics since March 2020 and HBM Healthcare Investments AG since
June 2020. She also previously served as a member of the board of directors for ARMO BioSciences, Inc. from August 2017 to June 2018 (acquired by Eli Lilly and Company). Dr. Xu received a B.S. in Biophysics from Peking University and a Ph.D. in
Immunology from Northwestern University. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Executive Officers </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;25, 2021, effective immediately after the closing of the Merger, the Company&#146;s board of directors appointed Stephen Brady as the
Company&#146;s Chief Executive Officer, Thomas Dubensky as the Company&#146;s President and Samuel Whiting as the Company&#146;s Chief Medical Officer. There are no family relationships among any of the Company&#146;s directors and executive
officers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stephen Brady</B> was appointed Chief Executive Officer of the Company and to the board of directors of the Company in connection with the
closing of the Merger. Prior to the Merger, Mr. Brady served as president and chief operating officer of Tempest Therapeutics since September 2019. Before Tempest, he served as executive vice president, strategy and finance at Immune Design, a
biopharmaceutical company that was acquired by Merck in 2019. At Immune Design, Mr. Brady led the general and administrative functions at the company, including strategy, corporate development, finance and investor and public relations, and was
instrumental in the company&#146;s successful IPO, financings and eventual sale to Merck. Prior to Immune Design, he held roles of increasing responsibility in multiple biopharmaceutical companies, including as vice president of corporate
development at Proteolix, where he had primary responsibility for the company&#146;s business development activities and sale to Onyx Pharmaceuticals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Thomas Dubensky, Ph.D.</B> was appointed President of the Company and to the board of directors of the Company in connection with the closing of the
Merger. Prior to the Merger, Dr. Dubensky served as the CEO of Tempest since 2017 and as a member of the board of directors of Tempest since September 2017. Prior to Tempest, Tom was the Chief Scientific Officer of Aduro Biotech, where he led the
development of first-in-class STING agonists. Additionally, Tom has served executive and principal roles in leading discovery biology, development and clinical translation of multiple first-in-class agents in cancer immunotherapy and infectious
disease indications at several biotech companies, including Viagene, Chiron, Onyx, Cerus and Immune Design. Tom has an extensive publication and patent record. He received his BA in Bacteriology and Immunology from the University of California,
Berkeley, his Ph.D. at the University of Colorado Health Sciences Center, conducted his post-doctoral studies at Harvard Medical School in the Department of Pathology, and received executive training at the University of California, San Diego, in
the Executive Program for Scientist and Engineers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Samuel Whiting, M.D., Ph.D.</B> was appointed Chief Medical Officer of the Company in connection
with the closing of the Merger. Prior to the Merger, Dr. Whiting served as Tempest Therapeutic&#146;s Chief Medical Officer since November 2020. Before Tempest, he was Senior Vice President of Clinical Development at Calithera Biosciences where he
oversaw the clinical development of the oral small molecule glutaminase inhibitor teleglenastat and the clinical development of the Calithera&#146;s pipeline CD73 inhibitor and served on Calithera&#146;s Senior Management Team. Prior to joining
Calithera in 2016, Dr. Whiting held positions of increasing responsibility developing small molecule, targeted, immunotherapy, and cancer vaccine therapies (Medical Director, Senior Medical Director and Vice President of Research and Development) at
Oncothyreon (subsequently Cascadian), VentiRx, and Gradalis Inc. Prior to his positions in the biotech industry, Dr. Whiting was an assistant professor of medical oncology at the University of Washington, assistant member of clinical research at the
Fred Hutchinson Cancer Research Center, and clinical director of gastrointestinal (GI) oncology at the Seattle Cancer Care Alliance, where Dr. Whiting also maintained a clinical practice in GI oncology. </P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding transactions between the Company and the newly appointed directors and executive
officers is included in the Registration Statement and is incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Resignation of Named Executive Officer </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;25, 2021, immediately prior to and effective upon the closing of the Merger, Louis J. Arcudi, III, the Company&#146;s President Chief Executive
Officer, and Jennifer <FONT STYLE="white-space:nowrap">Minai-Azary,</FONT> the Company&#146;s Chief Financial Officer, resigned as officers of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with their termination of employment, Mr.&nbsp;Arcudi and <FONT STYLE="white-space:nowrap">Ms.&nbsp;Minai-Azary</FONT> are entitled to certain
severance payments and benefits and certain of their outstanding options and restricted stock will automatically vest in full, and the period during which they can exercise certain options will be automatically extended, in each case as described in
Mr.&nbsp;Arcudi&#146;s and <FONT STYLE="white-space:nowrap">Ms.&nbsp;Minai-Azary&#146;s</FONT> amended and restated employment agreement. For additional information regarding these payments and benefits, please refer to the Registration Statement,
which is incorporated by reference in all respects. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To the extent required by Item 5.03 of Form <FONT STYLE="white-space:nowrap">8-K,</FONT> the information contained in Item 2.01 and Item 3.03 of this Current
Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> is incorporated by reference herein. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Regulation FD Disclosure. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June&nbsp;28, 2021, the Company issued a press release announcing, among other things, the closing of the Merger. A copy of the press
release is attached as Exhibit 99.1 hereto and incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01. Financial Statements and Exhibits. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements of Businesses Acquired. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The audited financial statements of Tempest as of December&nbsp;31, 2020 and 2019 and for the years then ended required by Item 9.01(a) were previously filed
with the SEC as part of the Registration Statement and are incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The unaudited condensed interim financial statements of
Tempest as of March&nbsp;31, 2021 and for the three months ended March&nbsp;31, 2021 and 2020, will be&nbsp;filed&nbsp;by&nbsp;amendment&nbsp;to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> no later than 71 days after the
date on which this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> is required to be filed pursuant to Item 2.01 of Form <FONT STYLE="white-space:nowrap">8-K.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Pro Forma Financial Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The pro forma financial information required by Item 9.01(b) were previously filed with the SEC as part of the Registration Statement and is incorporated
herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="93%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit<BR>No.</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>3.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d196630dex31.htm">Certificate of Amendment to the Restated Certificate of Incorporation of the Company, dated June&nbsp;24, 2021 </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>3.2*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d196630dex32.htm">Certificate of Amendment to the Restated Certificate of Incorporation of the Company, dated June&nbsp;25, 2021 </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1544227/000119312521148605/d150774dex103.htm">Loan and Security Agreement, dated January 15, 2021, by and among Oxford Finance LLC, the Lenders party thereto, and Tempest (incorporated by
reference to Exhibit 10.3 to the Registration Statement) </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001544227/000119312521148605/d150774dex101.htm">Lease Agreement, dated February&nbsp;
22, 2019, by and between <FONT STYLE="white-space:nowrap">ARE-San</FONT> Francisco No. 17, LLC and Tempest (incorporated by reference to Exhibit 10.1 to the Registration Statement) </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001544227/000119312521148605/d150774dex102.htm">First Amendment to Lease, dated June 28, 2019, by and between <FONT STYLE="white-space:nowrap">ARE-San</FONT> Francisco No, 17, LLC and Tempest
(incorporated by reference to Exhibit 10.2 to the Registration Statement) </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d196630dex991.htm">Press release issued on June&nbsp;28, 2021 </A></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Filed herewith </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">TEMPEST&nbsp;THERAPEUTICS,&nbsp;INC.</P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Date: June&nbsp;28, 2021</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stephen Brady</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Stephen Brady</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I>Chief Executive Officer</I></P></TD></TR>
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<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>d196630dex31.htm
<DESCRIPTION>EX-3.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 3.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFICATE OF AMENDMENT TO THE RESTATED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFICATE OF INCORPORATION OF MILLENDO THERAPEUTICS, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Pursuant to Section&nbsp;242 of the </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">General Corporation Law of the State of Delaware) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Millendo Therapeutics, Inc. (the &#147;Corporation&#148;), a corporation organized and existing under and by virtue of the provisions of the
General Corporation Law of the State of Delaware (the &#147;General Corporation Law&#148;), </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>DOES HEREBY CERTIFY: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. A resolution was duly adopted by the Board of Directors of the Corporation pursuant to Section&nbsp;242 of the General Corporation Law
proposing this Amendment of the Corporation&#146;s Restated Certificate of lncorporation and declaring the advisability of this Amendment of the Restated Certificate of Incorporation, as amended, and authorizing the appropriate officers of the
Corporation to solicit the consent of the stockholders therefor, which resolution setting forth the proposed amendment is as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">RESOLVED, that Section C of Article FOURTH of the Restated Certificate of Incorporation of the Corporation, as amended, be and hereby is
deleted in its entirety and the following paragraphs are inserted in lieu thereof: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;C. Effective as of 5:00 p.m. on June 25, 2021
(the &#147;Effective Time&#148;), a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-for-fifteen</FONT></FONT> (15)&nbsp;reverse stock split of the Corporation&#146;s common stock, par value $0.001 per share (the &#147;Common
Stock&#148;), shall become effective, pursuant to which each six shares of Common Stock outstanding and held of record by each stockholder of the Corporation (including treasury shares) immediately prior to the Effective Time shall be reclassified
and combined into one validly issued, fully paid and nonassessable share of Common Stock automatically and without any action by the holder thereof upon the Effective Time and shall represent one share of Common Stock from and after the Effective
Time (such reclassification and combination of shares, the &#147;Reverse Stock Split&#148;). The par value of the Common Stock following the Reverse Stock Split shall remain at $0.001 per share. No fractional shares of Common Stock shall be issued
as a result of the Reverse Stock Split and, in lieu thereof, upon surrender after the Effective Time of a certificate which formerly represented shares of Common Stock that were issued and outstanding immediately prior to the Effective Time, any
person who would otherwise be entitled to a fractional share of Common Stock as a result of the Reverse Stock Split, following the Effective Time, shall be entitled to receive a cash payment equal to the fraction of a share of Common Stock to which
such holder would otherwise be entitled multiplied by the fair value per share of the Common Stock immediately prior to the Effective Time as determined by the Board of Directors of the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each stock certificate that, immediately prior to the Effective Time, represented shares of Common Stock that were issued and outstanding
immediately prior to the Effective Time shall, from and after the Effective Time, automatically and without the necessity of presenting the same for exchange, represent that number of whole shares of Common Stock after the Effective Time into which
the shares formerly represented by such certificate have been reclassified (as well as the right to receive cash in lieu of fractional shares of Common Stock after the Effective Time); <U>provided</U>, <U>however</U>, that each person of record
holding a certificate that represented shares of Common Stock that were issued and outstanding immediately prior to the Effective Time shall receive, upon surrender of such certificate, a new certificate evidencing and representing the number of
whole shares of Common Stock after the Effective Time into which the shares of Common Stock formerly represented by such certificate shall have been reclassified.&#148; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. This Certificate of Amendment of the Restated Certificate of lncorporation has been duly
adopted by the stockholders of the Corporation in accordance with the provisions of Section&nbsp;242 of the General Corporation Law. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>IN WITNESS WHEREOF, </B>this Corporation has caused this Certificate of Amendment of the
Restated Certificate of lncorporation to be signed by its President and Chief Executive Officer this 24th day of June, 2021. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Louis Arcudi III</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Louis J. Arcudi III</TD></TR>
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<TD VALIGN="top">President and Chief Executive Officer</TD></TR>
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<TYPE>EX-3.2
<SEQUENCE>3
<FILENAME>d196630dex32.htm
<DESCRIPTION>EX-3.2
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFICATE OF AMENDMENT OF THE RESTATED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFICATE OF INCORPORATION OF MILLENDO THERAPEUTICS, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Pursuant to Section&nbsp;242 of the </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">General Corporation Law of the State of Delaware) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Millendo Therapeutics, Inc. (the &#147;Corporation&#148;), a corporation organized and existing under and by virtue of the provisions of the
General Corporation Law of the State of Delaware (the &#147;General Corporation Law&#148;), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>DOES HEREBY CERTIFY: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1. The name of the Corporation is Millendo Therapeutics, Inc. and the original certificate of incorporation of the Corporation was filed with
the Secretary of State of the State of Delaware on April 5, 2011 under the name OvaStem, Inc. A Restated Certificate of lncorporation of the Corporation was filed with the Secretary of State of the State of Delaware on April 30, 2013 (the
&#147;Prior Certificate&#148;). A certificate of Amendment to the Prior Certificate was filed with the Secretary of State of the State of Delaware on December 6, 2018. A certificate of Amendment to the Prior Certificate was filed with the Secretary
of State of the State of Delaware on December 7, 2018. A certificate of Amendment to the Prior Certificate was filed with the Secretary of State of the State of Delaware on June 24, 2021. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2. This Certificate of Amendment of the Restated Certificate of lncorporation shall be effective as of 5:02 p.m. as of June 25,2021. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3. A resolution was duly adopted by the Board of Directors of the Corporation pursuant to Section&nbsp;242 of the General Corporation Law
proposing this Amendment of the Corporation&#146;s Restated Certificate of lncorporation and declaring the advisability of this Amendment of the Restated Certificate of Incorporation, which resolution setting forth the proposed amendment is as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">RESOLVED, that Article FIRST of the Restated Certificate of lncorporation of the Corporation, as amended, be and hereby is
deleted in its entirety and the following is inserted in lieu thereof: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">&#147;FIRST: The name of the Corporation is Tempest Therapeutics,
Inc.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Remainder of page intentionally blank] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>IN WITNESS WHEREOF, </B>this Corporation has caused this Certificate of Amendment of the
Restated Certificate of lncorporation to be signed by its President and Chief Executive Officer this 25th day of June, 2021. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Louis Arcudi III</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Louis Arcudi III</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Chief Executive Officer</TD></TR>
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<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>d196630dex991.htm
<DESCRIPTION>EX-99.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g196630g0628084719485.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Tempest Closes Merger with Millendo and Completes PIPE Financing </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">South San Francisco, CA, June&nbsp;28, 2021 &#150;Tempest Therapeutics, Inc. (Nasdaq: TPST) (&#147;Tempest&#148;), a clinical-stage oncology company
developing potentially <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">first-in-class</FONT></FONT> therapeutics that combine both targeted and immune-mediated mechanisms, announced today the closing of its merger with Millendo
Therapeutics, Inc. (&#147;Millendo&#148;). Tempest&#146;s stock will commence trading on June&nbsp;28, 2021 on the Nasdaq Global Select Market under the trading symbol &#147;TPST.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In support of the merger, Tempest secured investments from a premier syndicate of healthcare investors composed of Versant Ventures, Rock Springs Capital, <FONT
STYLE="white-space:nowrap">F-Prime</FONT> Capital, Monashee Investment Management, Quan Capital, Lyfe Capital, Maven Investment Partners US, Lilly Asia Ventures and Eight Roads Ventures for a $30&nbsp;million PIPE financing that closed concurrent
with the completion of the merger. The net proceeds of the transaction are expected to fund the company&#146;s operations and advancement of its programs into early 2023, including: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">TPST-1495 (dual EP2/4 antagonist): completion of the ongoing monotherapy Phase 1 dose finding study, opening of a
combination dose finding study of TPST-1495 with pembrolizumab, and the planned opening of both monotherapy and combination expansion studies in targeted patient populations; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">TPST-1120 (PPAR&#945; antagonist): completion of the ongoing Phase 1 study of TPST-1120 in combination with
nivolumab, and the expected initiation and completion of enrollment of a global, randomized Phase 1b/2 study of TPST-1120 in combination with the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">standard-of-care</FONT></FONT>
first-line regimen of atezolizumab and bevacizumab in previously-untreated patients with advanced or metastatic HCC, pursuant to a collaboration between Tempest and F. <FONT STYLE="white-space:nowrap">Hoffmann-La</FONT> Roche; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Research: advancement of additional novel oncology research programs, including an oral inhibitor of <FONT
STYLE="white-space:nowrap">TREX-1</FONT> intended to selectively activate STING in tumors and stimulate anti-tumor immunity. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;The closing of this merger fulfills an important 2021 goal for Tempest,&#148; said Steve Brady, chief
executive officer of Tempest. &#147;With our novel programs, including TPST-1495 and TPST-1120 progressing in the clinic, access to the public markets was of strategic importance as we look forward to a number of potential catalysts in the future
and advance towards our goal to offer patients with cancer meaningful therapeutic options.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Transaction Terms and Leadership Team Updates
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the closing of the merger, Millendo effected a 1:15 reverse split of its common stock. Tempest has approximately 6.7&nbsp;million
shares of common stock outstanding after giving effect to the terms of the transaction. Tempest stockholders prior to the merger, combined with investors in the concurrent financing, collectively own approximately 81% of the outstanding shares, and
prior Millendo stockholders own approximately 19% of the outstanding shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective as of the closing of the merger, Geoff Nichol, chief medical
officer of BioMarin, and Steve Brady, chief executive officer of Tempest, are joining Mike Raab, president and chief executive officer of Ardelyx, Tom Woiwode, managing director, Versant Ventures, Tom Dubensky, president of Tempest, and Stella Xu,
managing director, Quan Capital, on the Tempest board of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Piper Sandler served as the exclusive financial advisor and placement agent to
Tempest, and Sidley Austin served as Tempest&#146;s legal counsel. SVB Leerink served as the exclusive financial advisor to Millendo and WilmerHale served as Millendo&#146;s legal counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Tempest Therapeutics </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tempest Therapeutics is a
clinical-stage oncology company advancing small molecules that combine both targeted and immune-mediated mechanisms with the potential to treat a wide range of tumors. The company&#146;s two novel clinical programs are TPST-1495 and TPST-1120,
antagonists of EP2/EP4 and PPAR&#945;, respectively. Both TPST-1495 and TPST-1120 are advancing through Phase 1 studies designed to study both agents as monotherapies and in combination with other approved agents. Tempest is also developing an
orally-available inhibitor of <FONT STYLE="white-space:nowrap">TREX-1</FONT> designed to activate selectively the cGAS/STING pathway, an innate immune response pathway important for the development of anti-tumor immunity. Tempest is headquartered in
South San Francisco and supported by notable healthcare investors.&nbsp;More information about Tempest can be found on the company&#146;s website at <U>www.tempesttx.com</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains
forward-looking statements (including within the meaning of Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, and Section&nbsp;27A of </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">the Securities Act of 1933, as amended (the &#147;Securities Act&#148;)) concerning Tempest Therapeutics.
These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Tempest Therapeutics, as well as
assumptions made by, and information currently available to, management of Tempest Therapeutics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and
include words such as &#147;may,&#148; &#147;will,&#148; &#147;should,&#148; &#147;would,&#148; &#147;could&#148;, &#147;expect,&#148; &#147;anticipate,&#148; &#147;plan,&#148; &#147;likely,&#148; &#147;believe,&#148; &#147;estimate,&#148;
&#147;project,&#148; &#147;intend,&#148; and other similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: our strategies, prospects, plans,
expectations or objectives for future operations; the progress, scope or timing of the development of our product candidates; the benefits that may be derived from any future products or the commercial or market opportunity with respect to any of
our future products; our ability to protect our intellectual property rights; our anticipated operations, financial position, ability to raise capital to fund operations, revenues, costs or expenses; statements regarding future economic conditions
or performance; statements of belief and any statement of assumptions underlying any of the foregoing.&nbsp;Many of these risks are described in greater detail in the proxy statement/prospectus filed by Millendo Therapeutics with the Securities and
Exchange Commission relating to the merger.&nbsp;Except as required by applicable law, Tempest Therapeutics undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a
result of new information, future events or otherwise. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investor and Media Contacts: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sylvia Wheeler </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wheelhouse Life Science Advisors </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>swheeler@wheelhouselsa.com </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alex Santos </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wheelhouse Life Science Advisors </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>asantos@wheelhouselsa.com
</U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">### </P>
</DIV></Center>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
