Shares of Tempest Therapeutics Inc.
fell more than 8% Friday to conclude a dramatic week in which the stock clocked a one-day gain of nearly 4,000%. The action started on Wednesday, when the oncology company released results for its lead investigational treatment, TPST-1120, in patients with liver cancer and announced a limited-duration stockholder-rights plan, known as a poison pill. The shares retreated the next day, dropping nearly 60%.
After the wild ride, Tempest shares were still up 1,347% for the week and have gained 216% in the year to date, while the S&P 500