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TLPH

Talphera, Inc.

TLPH

Talphera, Inc. • NASDAQ
$1.33 ▲ 1.53% (+0.02)
Market Cap $27.29 M
52w High $1.57
52w Low $0.38
Dividend Yield 0%
P/E -3.5
Volume 116.04K
Outstanding Shares 20.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1K ▲ $3.423M ▼ $-4.436M ▼ -443.6K% ▼ $-0.11 ▼ $-4.436M ▼
Q2-2025 $0 ▼ $3.693M ▲ $-3.489M ▼ 0% ▲ $-0.1 ▼ $-3.489M ▼
Q1-2025 $27K ▲ $1.774M ▲ $-2.593M ▼ -9.604K% ▼ $-0.099 ▼ $0 ▲
Q4-2024 $0 $1.673M ▼ $-1.87M ▲ 0% $-0.071 ▲ $-2.972M ▲
Q3-2024 $0 $1.696M $-3.353M 0% $-0.13 $-3.725M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $21.289M ▲ $30.742M ▲ $11.565M ▲ $19.177M ▲
Q2-2025 $6.791M ▲ $16.515M ▲ $9.888M ▲ $6.627M ▲
Q1-2025 $5.388M ▼ $14.995M ▼ $9.396M ▼ $5.599M ▼
Q4-2024 $8.863M ▼ $18.236M ▼ $10.235M ▼ $8.001M ▼
Q3-2024 $11.117M $21.014M $11.373M $9.641M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.436M ▼ $-2.51M ▲ $-17.815M ▼ $16.991M ▲ $-3.334M ▼ $-2.51M ▲
Q2-2025 $-3.489M ▼ $-2.948M ▲ $0 $4.351M ▲ $1.403M ▲ $-2.948M ▲
Q1-2025 $-2.666M ▼ $-3.47M ▼ $0 $-5K ▼ $-3.475M ▼ $-3.47M ▼
Q4-2024 $-1.87M ▲ $-2.254M ▲ $0 ▼ $0 ▼ $-2.254M ▲ $-2.254M ▲
Q3-2024 $-3.353M $-2.936M $600K $30K $-2.306M $-2.936M

Five-Year Company Overview

Income Statement

Income Statement Talphera is essentially a pre‑revenue biotech: it has almost no product sales yet and continues to run operating losses. The pattern over the past several years shows recurring losses tied to R&D and overhead, with one unusually strong profit year that likely reflects one‑time events rather than a stable earning power. Overall, the income statement tells a story of a company still in the development and build‑out phase, not yet in a steady commercial stage. Profitability depends heavily on successful approvals and commercialization of its pipeline rather than current operations.

Balance Sheet

Balance Sheet The balance sheet is small and lean, with modest total assets and a limited cash cushion. Debt exists but is not extremely large in absolute terms, and shareholder equity has only recently turned positive, suggesting past financial strain followed by recapitalization or restructuring. This profile is typical of a small clinical‑stage pharma: the company has enough assets to keep progressing for now, but its financial strength is not deep, and continued access to funding will remain important.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, reflecting ongoing spending on R&D, trials, and corporate costs without offsetting revenue. There is essentially no spending on long‑term physical assets, so cash burn is almost entirely tied to running and advancing the pipeline. This means the business is dependent on external financing—equity raises, partnerships, or other deals—to sustain operations until and unless products start generating meaningful cash inflows.

Competitive Edge

Competitive Edge Talphera is positioning itself in a narrow but important medical niche: anticoagulation for patients on dialysis and similar extracorporeal therapies who cannot tolerate standard options. Its lead asset, Niyad, aims to be the first FDA‑approved product specifically for this use, supported by a Breakthrough Device designation. That focus, plus partnerships and potential regulatory exclusivity, gives it a chance to build a defensible foothold in a space with real unmet need. At the same time, the company is small, highly concentrated in a few assets, and competing in a sector where larger players and future entrants could challenge pricing and share if the market proves attractive.

Innovation and R&D

Innovation and R&D Innovation is the core of Talphera’s story. The company is building around nafamostat, with Niyad for regional anticoagulation and LTX‑608 as a flexible platform for multiple serious conditions such as respiratory distress and coagulation disorders. It is also pursuing ready‑to‑use injectable products via pre‑filled syringes, which can improve safety and convenience in hospitals. R&D is focused rather than sprawling, which can be an advantage in execution, but the programs are still at stages where clinical and regulatory outcomes are uncertain and timelines extend several years. Success in the key pivotal trial for Niyad is the main near‑ to medium‑term technical milestone.

Summary

Overall, Talphera is a small, development‑stage specialty pharma that has strategically narrowed its focus to a high‑need, under‑served area in hospital care. Financially, it remains loss‑making with persistent cash burn and a modest balance sheet, relying on external funding to advance its pipeline. Strategically, its potential strength lies in being first to market with a specialized anticoagulant and in building a nafamostat‑based platform that could support multiple indications. The main opportunities come from regulatory approvals and effective commercialization of Niyad and follow‑on products; the main risks are clinical trial setbacks, regulatory delays, funding constraints, and the challenges of competing and scaling as a small player in a highly regulated, capital‑intensive industry.

NEWS

November 12, 2025 · 4:05 PM UTC

Talphera Announces Third Quarter 2025 Financial Results and Provides Corporate Update

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November 5, 2025 · 4:05 PM UTC

Talphera to Host Third Quarter Financial Results and Corporate Update Call and Webcast on Wednesday, November 12, 2025

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October 21, 2025 · 8:30 AM UTC

Talphera Announces the Appointment of Joe Todisco to Board of Directors

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September 8, 2025 · 8:30 AM UTC

Talphera Announces Private Placement Financing of up to $29 Million Priced At-the Market

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September 8, 2025 · 8:30 AM UTC

CorMedix Announces Strategic Minority Investment in Talphera

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