TALPHERA, INC.
Business
Talphera, Inc. is a specialty pharmaceutical company developing innovative therapies for medically supervised settings. Its lead product, Niyad (nafamostat mesylate), is a regional anticoagulant for continuous renal replacement therapy in acute kidney injury patients, regulated as a Class III medical device with FDA Breakthrough Device Designation in Phase 3 trials. The company also evaluates LTX-608, a nafamostat formulation for intravenous infusion in disseminated intravascular coagulation, acute respiratory distress syndrome, and acute pancreatitis.
Summary from 10-K filed 2026-03-23
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 28,000 | 0 | 651,000 | 0 | 3 | |
| Research and development | 6 | 7 | 6 | 3 | 4 | |
| Selling, general and administrative | 7 | 9 | 12 | 17 | 31 | |
| Total operating costs and expenses | 14 | 15 | 18 | 25 | 39 | |
| Loss from operations | −13 | −15 | −17 | −25 | −36 | |
| Interest income and other income, net | 436,000 | 679,000 | 1 | 366,000 | 124,000 | |
| Gain on sale of future payments | 0 | 1 | 0 | — | — | |
| (Loss) gain on change in fair value of warrant liability | −1 | 717,000 | 5 | — | — | |
| Non-cash interest expense on liability related to the sale of future payments | 0 | −394,000 | 0 | — | — | |
| Total other income, net | −879,000 | 2 | 7 | 84 | 871,000 | |
| Net loss from continuing operations | −14 | −13 | −10 | 59 | — | |
| Net income from discontinued operations See Note 3 | 73,000 | 0 | −8 | −11 | — | |
| Net loss | −14 | −13 | −18 | 48 | −35 | |
| Basic and diluted, continuing operations (in dollars per share) | −0.34 | −0.5 | −0.72 | 7.27 | — | |
| Basic and diluted, discontinued operations (in dollars per share) | 0 | 0 | −0.57 | −1.54 | — | |
| Basic and diluted loss per share (in dollars per share) | −0.34 | −0.5 | −1.29 | 5.73 | −5.86 | |
| Shares used in computing net loss per share of common stock, basic and diluted See Note 10 (in shares) | 42 | 26 | 14 | 7 | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 6 | 9 | 6 | 15 | 8 | |
| Short-term investments | 14 | 0 | 4 | 495,000 | 39 | |
| Prepaid expenses and other current assets | 519,000 | 554,000 | 2 | 2 | 3 | |
| Total current assets | 21 | 9 | 12 | 25 | 50 | |
| In-process research and development asset | 9 | 9 | 9 | 9 | 0 | |
| Total assets | 30 | 18 | 20 | 47 | 78 | |
| Accounts payable | 544,000 | 670,000 | 1 | 1 | 2 | |
| Accrued and other liabilities | 3 | 1 | 2 | 3 | 7 | |
| Liabilities of discontinued operations, current portion | 650,000 | 723,000 | 731,000 | 5 | — | |
| Total current liabilities | 4 | 3 | 5 | 14 | 19 | |
| Warrant liability | 2 | 1 | 2 | 7 | 0 | |
| Liability related to the sale of future payments | 6 | 7 | 0 | — | — | |
| Total liabilities | 13 | 10 | 6 | 26 | 114 | |
| Commitments and Contingencies | — | — | — | — | — | |
| Common stock, $0.001 par value200,000,000 shares authorized as of December 31, 2025 and 2024; 49,328,097 and 17,029,469 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 49,000 | 17,000 | 17,000 | 8,000 | 7,000 | |
| Additional paid-in capital | 489 | 465 | 458 | 448 | 438 | |
| Accumulated deficit | −472 | −457 | −444 | −426 | −474 | |
| Total stockholders equity | 17 | 8 | 14 | 22 | −36 | |
| Total Liabilities and Stockholders Equity | 30 | 18 | 20 | 47 | 78 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Non-cash revenue related to sale of future payments | −28,000 | 0 | — | — | — | |
| Net amortization of discount on short term investments | −142,000 | −121,000 | −24,000 | — | — | |
| Stock-based compensation | 699,000 | 989,000 | 2 | 3 | 5 | |
| Revaluation of warrant liability | 1 | −717,000 | — | — | — | |
| Prepaid expenses and other current assets | 35,000 | 2 | 281,000 | 299,000 | −908,000 | |
| Accounts payable | −208,000 | −671,000 | −575,000 | 551,000 | 111,000 | |
| Accrued liabilities | 1 | −1 | −1 | −2 | 79,000 | |
| Net cash used in operating activities | −11 | −13 | −17 | −28 | −30 | |
| Purchase of investments | −18 | −5 | — | — | — | |
| Proceeds from sale of investments | 10,000 | 0 | — | — | — | |
| Proceeds from maturities of investments | 3 | 9 | — | — | — | |
| Net cash (used in) provided by investing activities | −14 | 4 | −528,000 | 36 | −26 | |
| Gross proceeds from sale of future payments | 0 | 7 | 0 | — | — | |
| Issuance costs related to sale of future payments | 0 | −521,000 | 0 | — | — | |
| Net proceeds from issuance of common stock through equity plans | 17,000 | 27,000 | — | — | — | |
| Net cash provided by financing activities | 23 | 12 | 3 | −507,000 | 42 | |
| Net change in cash and cash equivalents | −3 | 3 | −15 | 8 | −15 | |
| Equity issuance costs from warrant modification | 0 | 251,000 | 0 | 47,000 | 0 | |
| Offering costs in accounts payable and accrued liabilities | 116,000 | 0 | 72,000 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is TALPHERA, INC.'s CIK number?
TALPHERA, INC.'s SEC CIK number is 0001427925 (1427925). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find TALPHERA, INC.'s SEC filings?
All of TALPHERA, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did TALPHERA, INC. last report earnings?
TALPHERA, INC. (TLPH) most recently filed an earnings 8-K with the SEC on May 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-26-016724). This is TALPHERA, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is TALPHERA, INC.'s most recent earnings 8-K?
TALPHERA, INC.'s latest earnings 8-K (Item 2.02) was filed May 13, 2026 under accession 0001437749-26-016724. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View TALPHERA, INC.'s latest earnings 8-K →
Look up any company's CIK number →