Reported 2025 net loss of $26.3M ($6.33/share) versus $41.8M ($19.50/share) in 2024; year-end cash and equivalents were $7.7M (down from $30.3M at 2024 year-end). R&D expense decreased to $12.6M (from $28.5M in 2024) as efforts were reprioritized; G&A was $14.0M (vs. $13.6M in 2024), reflecting one-time separation costs. TPST-2003 dual-targeting CD19/BCMA CAR-T in rrMM showed 100% complete response among 6 efficacy-evaluable patients as of the January 31, 2026 cutoff, with no Grade >3 CRS or ICANS; 36 rrMM patients have been treated across two studies; prior IIT reached median PFS of 23.1 months. Completed an all-stock acquisition of next-generation CAR-T assets from Factor Bioscience, including TPST-2003; partner Novatim Immune Therapeutics is sponsoring REDEEM-1 and targets a partner-funded China BLA filing in 2027. Financed operations with equity: June 2025 RDO netted $4.1M, November 2025 offering up to $8.35M generated $3.8M net proceeds in 2025, and $2.8M from an ATM program; in March 2026, announced a private placement of up to $6M ($2M upfront, up to $4M via warrants). Amezalpat (TPST-1120) for HCC received FDA Orphan Drug and Fast Track designations, EMA Orphan Drug designation, China pivotal trial clearance, and supportive AACR 2025 data. TPST-1495 received FDA Orphan Drug designation for FAP and a Study May Proceed letter; a Phase 2 FAP study is planned for 2026 and is expected to be NCI-funded via the Cancer Prevention Clinical Trials Network. Matt Angel, Ph.D., was named Chief Executive Officer & President.