Company research
TALPHERA, INC.
CIK 1427925Updated Nov 13, 2026
SecurityTLPH · NASDAQ · equity
Historical securities (1)
ACRX · OTC · equity · closed Jan 9, 2024Name history
ACELRX PHARMACEUTICALS INC · through Dec 14, 2023
TLPH price & chart
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NASDAQ:TLPH on TradingView ↗In the news
Talphera Announces Third Quarter 2025 Financial Results and Provides Corporate Update News provided by Talphera, Inc. Nov 12, 2025, 16:05 ET Share this article Share to X Share this article Share to X Closed $17 million first tranche financing led by a strategic investment from CorMedix, Inc. Cash a ↗
Seeking Alpha
Talphera outlines plan to seek FDA agreement to end NEPHRO enrollment by Dec. 31, 2026, while raising Niyad peak U.S. sales view to over $200M ↗
Talphera, Inc. (TLPH) Q3 2026 Earnings Call Transcript ↗
Talphera Q3 2026 Earnings Preview ↗
SEC disclosures
TALPHERA, INC. files 8-K: Material Event ↗
Recent filings
S-3 filing
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
S-8 filing
10-Q filing
Show 5 more recent filings
Financials
FY 2025 · USDSource
Source
Source
Source
balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| AssetsUSD | 30,742,000Source | 21,014,000Source | 26,806,000Source | 16,515,000Source | 24,856,000Source | 30,155,000Source | 14,995,000Source | 28,772,000Source | 29,719,000Source | 18,236,000Source | 20,395,000Source | 47,487,000Source |
| Property, Plant and Equipment, NetUSD | — | — | — | — | — | — | — | — | — | — | — | 0Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source | 8,819,000Source |
| Current assets: | ||||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 3,457,000Source | 11,117,000Source | 742,000Source | 6,791,000Source | 13,423,000Source | 3,823,000Source | 5,388,000Source | 12,122,000Source | 5,894,000Source | 8,863,000Source | 5,721,000Source | 15,275,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | — | — | — | — | — | — | — | — | — | — | — | 309,000Source |
| Inventory, NetUSD | — | — | — | — | — | — | — | — | — | — | — | 1,178,000Source |
| Assets, CurrentUSD | 21,923,000Source | 12,195,000Source | 17,987,000Source | 7,696,000Source | 16,037,000Source | 21,336,000Source | 6,176,000Source | 19,953,000Source | 20,900,000Source | 9,417,000Source | 11,556,000Source | 24,566,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 634,000Source | 1,078,000Source | 911,000Source | 905,000Source | 2,014,000Source | 228,000Source | 788,000Source | 1,369,000Source | 519,000Source | 554,000Source | 2,175,000Source | 1,865,000Source |
| Operating Lease, Right-of-Use AssetUSD | — | — | — | — | — | — | — | — | — | — | — | 96,000Source |
| Other Assets, NoncurrentUSD | — | — | — | — | — | — | — | — | — | — | 20,000Source | 70,000Source |
| LIABILITIES AND EQUITY | ||||||||||||
| LiabilitiesUSD | 11,565,000Source | 11,373,000Source | 12,400,000Source | 9,888,000Source | 12,126,000Source | 11,677,000Source | 9,396,000Source | 12,438,000Source | 12,684,000Source | 10,235,000Source | 6,290,000Source | 25,673,000Source |
| Stockholders’ equity: | ||||||||||||
| Common Stock, Value, IssuedUSD | 46,000Source | 17,000Source | 52,000Source | 20,000Source | 17,000Source | 50,000Source | 17,000Source | 17,000Source | 49,000Source | 17,000Source | 17,000Source | 8,000Source |
| Additional Paid in CapitalUSD | 486,879,000Source | 464,984,000Source | 492,742,000Source | 469,919,000Source | 464,720,000Source | 492,504,000Source | 465,405,000Source | 464,497,000Source | 488,506,000Source | 465,214,000Source | 458,314,000Source | 447,635,000Source |
| Retained Earnings (Accumulated Deficit)USD | -467,748,000Source | -455,360,000Source | -478,388,000Source | -463,312,000Source | -452,007,000Source | -474,076,000Source | -459,823,000Source | -448,180,000Source | -471,520,000Source | -457,230,000Source | -444,226,000Source | -425,829,000Source |
| Stockholders' Equity Attributable to ParentUSD | 19,177,000Source | 9,641,000Source | 14,406,000Source | 6,627,000Source | 12,730,000Source | 18,478,000Source | 5,599,000Source | 16,334,000Source | 17,035,000Source | 8,001,000Source | 14,105,000Source | 21,814,000Source |
| Liabilities and EquityUSD | 30,742,000Source | 21,014,000Source | 26,806,000Source | 16,515,000Source | 24,856,000Source | 30,155,000Source | 14,995,000Source | 28,772,000Source | 29,719,000Source | 18,236,000Source | 20,395,000Source | 47,487,000Source |
| Current liabilities: | ||||||||||||
| Liabilities, CurrentUSD | 3,212,000Source | 2,762,000Source | 4,188,000Source | 2,630,000Source | 3,274,000Source | 4,025,000Source | 1,989,000Source | 3,344,000Source | 3,809,000Source | 2,647,000Source | 4,512,000Source | 13,770,000Source |
| Operating Lease, Liability, CurrentUSD | — | — | — | — | — | — | — | — | — | — | — | 100,000Source |
| Accounts Payable, CurrentUSD | 526,000Source | 396,000Source | 387,000Source | 835,000Source | 808,000Source | 927,000Source | 326,000Source | 1,274,000Source | 544,000Source | 670,000Source | 1,336,000Source | 1,256,000Source |
| Operating Lease, Liability, NoncurrentUSD | — | — | — | — | — | — | — | — | — | — | — | 0Source |
| Other Liabilities, NoncurrentUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 810,000Source |
| Additional Financial Items | ||||||||||||
| Accrued Liabilities, CurrentUSD | 2,036,000Source | 1,643,000Source | 3,151,000Source | 1,145,000Source | 1,743,000Source | 2,448,000Source | 1,013,000Source | 1,340,000Source | 2,615,000Source | 1,254,000Source | 2,445,000Source | 2,431,000Source |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | 21,289,000Source | — | 17,076,000Source | — | 14,023,000Source | 21,108,000Source | — | 18,584,000Source | 20,381,000Source | — | 9,381,000Source | 20,770,000Source |
| Long-term Debt, Excluding Current Maturities | — | — | — | — | — | — | — | — | — | — | — | —Source |
| Long-term Debt, Current MaturitiesUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 5,363,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | — | — | — | — | — | — | — | — | — | — | — | 0Source |
| Short-term InvestmentsUSD | 17,832,000Source | 0Source | 16,334,000Source | — | 600,000Source | 17,285,000Source | — | 6,462,000Source | 14,487,000Source | 0Source | 3,660,000Source | 495,000Source |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | — | — | — | — | — | 0Source | 311,000Source | 1,647,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | — | 214,000Source | 196,000Source | 699,000Source | 989,000Source | 1,729,000Source | 2,889,000Source |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts ReceivableUSD | — | — | — | — | — | — | 0Source | 27,000Source | — | — | 189,000Source | 149,000Source |
| Increase (Decrease) in InventoriesUSD | — | — | — | — | — | — | — | — | — | 0Source | -61,000Source | 107,000Source |
| Increase (Decrease) in Accounts PayableUSD | — | — | — | — | — | — | 210,000Source | -345,000Source | -208,000Source | -671,000Source | -575,000Source | 551,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | -3,400,000Source | -3,470,000Source | -11,364,000Source | -12,683,000Source | -17,492,000Source | -28,331,000Source |
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 1,687,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | -2,714,000Source | 0Source | -14,345,000Source | 3,781,000Source | -528,000Source | 36,450,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | — | — | — | — | — | — | 0Source | 100,000Source | 364,000Source |
| Cash flows from financing activities: | ||||||||||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | — | — | — | — | — | — | — | — | — | — | 22,000Source | 58,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | 4,043,000Source | -5,000Source | 22,740,000Source | 12,044,000Source | 3,466,000Source | -507,000Source |
| Repayments of Long-term DebtUSD | — | — | — | — | — | — | — | — | — | 0Source | 5,416,000Source | 8,433,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | -2,071,000Source | -3,475,000Source | -2,969,000Source | 3,142,000Source | -14,554,000Source | 7,612,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | — | — | — | — | — | — | — | — | 5,721,000Source | 20,275,000Source |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | — | — | — | — | — | — | 0Source | 119,000Source | 824,000Source |
| Income Taxes Paid, NetUSD | — | — | — | — | — | — | — | — | — | 0Source | 0Source | 13,000Source |
| Additional Financial Items | ||||||||||||
| Share-based Payment Arrangement, ExpenseUSD | — | — | 152,000Source | 234,000Source | 243,000Source | 166,000Source | — | 196,000Source | 699,000Source | 989,000Source | 1,729,000Source | 2,889,000Source |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | — | — | 21,289,000Source | — | 17,076,000Source | — | 21,108,000Source | — | 20,381,000Source | — | 9,381,000Source | 20,770,000Source |
| Debt Securities, Available-for-sale, Realized Gain (Loss)USD | — | — | — | — | — | — | — | — | — | — | — | 0Source |
| DepreciationUSD | — | — | — | — | — | — | — | — | — | — | — | 800,000Source |
| Gain (Loss) on Termination of LeaseUSD | — | — | — | — | — | — | — | — | — | 0Source | 1,098,000Source | 0Source |
| Gain (Loss) on Extinguishment of DebtUSD | — | — | — | — | — | — | — | — | — | 0Source | 400,000Source | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | — | -4,436,000Source | -3,353,000Source | -4,312,000Source | -3,489,000Source | -2,556,000Source | -2,666,000Source | -14,363,000Source | -13,004,000Source | -10,287,000Source | 59,125,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | — | 0Source | 0Source | 0Source | 0Source | 0Source | 73,000Source | 73,000Source | 0Source | -8,110,000Source | -11,370,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | 0Source | — | — | — | — | 0Source | 0Source | 0Source | 13,000Source |
| InterestExpenseNonoperatingUSD | — | — | — | 0Source | — | — | — | — | — | 0Source | — | — |
| Inventory Write-downUSD | — | — | — | — | — | — | — | — | — | — | — | 0Source |
| Marketable Securities, Gain (Loss), Excluding Other-than-temporary Impairment LossUSD | — | — | 0Source | — | 0Source | — | 0Source | — | 0Source | 0Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | — | — | -4,436,000Source | -3,353,000Source | -4,312,000Source | -3,489,000Source | -2,556,000Source | -2,593,000Source | -14,290,000Source | -13,004,000Source | -18,397,000Source | 47,755,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | — | — | — | — | — | — | — | — | -18,397,000Source | 42,329,000Source |
| Nonoperating Income (Expense)USD | — | — | -1,014,000Source | 396,000Source | -388,000Source | 204,000Source | 1,392,000Source | 250,000Source | -879,000Source | 2,248,000Source | 6,602,000Source | 84,438,000Source |
| Payments to Acquire InvestmentsUSD | — | — | — | — | — | — | — | — | 17,815,000Source | — | — | — |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | 1,000Source | 0Source | 0Source | 0Source | 0Source | 27,000Source | 28,000Source | 0Source | 651,000Source | 0Source |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of RevenueUSD | — | — | — | — | — | — | — | — | — | — | — | 0Source |
| Selling, General and Administrative ExpenseUSD | — | — | 1,620,000Source | 1,696,000Source | 2,234,000Source | 2,193,000Source | 2,298,000Source | 1,774,000Source | 7,479,000Source | 8,534,000Source | 11,994,000Source | 17,011,000Source |
| Operating Income (Loss)USD | — | — | -3,422,000Source | -3,749,000Source | -3,924,000Source | -3,693,000Source | -3,948,000Source | -2,916,000Source | -13,484,000Source | -15,252,000Source | -16,889,000Source | -25,300,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | — | — | — | -3,353,000Source | — | — | — | — | — | — | -10,287,000Source | 59,138,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | 0Source | — | — | — | — | 0Source | 0Source | 0Source | 13,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -4,436,000Source | -3,353,000Source | -4,312,000Source | -3,489,000Source | -2,556,000Source | -2,593,000Source | -14,290,000Source | -13,004,000Source | -18,397,000Source | 47,755,000Source |
| Earnings Per Share, BasicUSD per share | — | — | -0.11Source | -0.13Source | -0.06Source | -0.1Source | -0.04Source | -0.1Source | -0.34Source | -0.5Source | -1.29Source | 5.73Source |
| Earnings Per Share, DilutedUSD per share | — | — | — | — | — | — | — | -0.1Source | — | — | -1.29Source | 5.72Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 41,453,382Source | 26,212,902Source | 75,526,900Source | 34,530,377Source | 69,821,593Source | 26,268,209Source | 42,410,711Source | 25,845,639Source | 14,263,744Source | 7,385,348Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | — | — | — | — | — | — | — | — | 14,263,744Source | 7,406,986Source |
| Interest Expense (non-operating)USD | — | — | — | 0Source | — | — | — | — | — | 0Source | — | — |
| Additional Financial Items | ||||||||||||
| Costs and ExpensesUSD | — | — | 3,423,000Source | 3,749,000Source | 3,924,000Source | 3,693,000Source | 3,948,000Source | 2,943,000Source | 13,512,000Source | 15,252,000Source | 17,540,000Source | 25,300,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | — | -4,436,000Source | -3,353,000Source | -4,312,000Source | -3,489,000Source | -2,556,000Source | -2,666,000Source | -14,363,000Source | -13,004,000Source | -10,287,000Source | 59,125,000Source |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | — | — | -0.11Source | -0.13Source | -0.06Source | -0.1Source | -0.04Source | -0.1Source | -0.34Source | -0.5Source | -0.72Source | 7.27Source |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | — | — | — | — | — | — | — | -0.1Source | — | — | -0.72Source | 7.25Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | — | 0Source | 0Source | 0Source | 0Source | 0Source | 73,000Source | 73,000Source | 0Source | -8,110,000Source | -11,370,000Source |
| Interest ExpenseUSD | — | — | — | — | — | — | — | — | — | — | 134,000Source | 1,116,000Source |
| Investment Income, NetUSD | — | — | 81,000Source | 155,000Source | 172,000Source | 83,000Source | 169,000Source | 69,000Source | 436,000Source | 679,000Source | 6,736,000Source | 366,000Source |
| Labor and Related ExpenseUSD | — | — | 1,430,000Source | 1,406,000Source | — | 1,634,000Source | 1,635,000Source | 1,338,000Source | 5,823,000Source | 6,212,000Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | — | — | — | — | — | — | — | — | -18,397,000Source | 42,329,000Source |
| Net Income (Loss) from Continuing Operations Available to Common Shareholders, BasicUSD | — | — | — | — | — | — | — | — | — | — | -10,287,000Source | 53,699,000Source |
| Nonoperating Income (Expense)USD | — | — | -1,014,000Source | 396,000Source | -388,000Source | 204,000Source | 1,392,000Source | 250,000Source | -879,000Source | 2,248,000Source | 6,602,000Source | 84,438,000Source |
| Research and Development ExpenseUSD | — | — | 1,803,000Source | 2,053,000Source | 1,690,000Source | 1,500,000Source | 1,650,000Source | 1,169,000Source | 6,033,000Source | 6,718,000Source | 5,546,000Source | 3,341,000Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | 1,000Source | 0Source | 0Source | 0Source | 0Source | 27,000Source | 28,000Source | 0Source | 651,000Source | 0Source |
| Undistributed Earnings (Loss) Allocated to Participating Securities, BasicUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 5,240,000Source |