<SEC-DOCUMENT>0001179110-22-003398.txt : 20220622
<SEC-HEADER>0001179110-22-003398.hdr.sgml : 20220622
<ACCEPTANCE-DATETIME>20220622162902
ACCESSION NUMBER:		0001179110-22-003398
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220621
FILED AS OF DATE:		20220622
DATE AS OF CHANGE:		20220622

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Brady Stephen R
		CENTRAL INDEX KEY:			0001606241

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35890
		FILM NUMBER:		221032386

	MAIL ADDRESS:	
		STREET 1:		C/O IMMUNE DESIGN CORP.
		STREET 2:		1616 EASTLAKE AVE. E, SUITE 310
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98102

ISSUER:		

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

	BUSINESS ADDRESS:	
		STREET 1:		7000 SHORELINE COURT
		STREET 2:		SUITE 275
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		415-798-8589

	MAIL ADDRESS:	
		STREET 1:		7000 SHORELINE COURT
		STREET 2:		SUITE 275
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Millendo Therapeutics, Inc.
		DATE OF NAME CHANGE:	20181207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OvaScience, Inc.
		DATE OF NAME CHANGE:	20120308
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-06-21</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001544227</issuerCik>
        <issuerName>Tempest Therapeutics, Inc.</issuerName>
        <issuerTradingSymbol>TPST</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001606241</rptOwnerCik>
            <rptOwnerName>Brady Stephen R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TEMPEST THERAPEUTICS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>7000 SHORELINE COURT, SUITE 275</rptOwnerStreet2>
            <rptOwnerCity>SOUTH SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.35</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2022-06-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>173533</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2032-06-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>173533</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>173533</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Vests over four (4) years, with one-fourth (1/4) of the award vesting on the first anniversary of the date of grant and the remainder of the award vesting in equal monthly installments thereafter, subject to the reporting person's continuous service through each vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Pierre Lorenzo, Attorney-in-Fact for Stephen R. Brady</signatureName>
        <signatureDate>2022-06-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
