Symbols / TLPH $0.72 +1.31% Talphera, Inc.

Healthcare • Drug Manufacturers - Specialty & Generic • United States • NCM
TLPH Chart
About

Talphera, Inc., a specialty pharmaceutical company, focuses on the development and commercialization of therapies for use in medically supervised settings. The company's lead product candidate is Niyad, a lyophilized formulation of nafamostat, which is under an investigational device exemption as an anticoagulant for the extracorporeal circuit. It is also developing LTX-608, a nafamostat formulation for direct IV infusion as an investigational product for various indications, such as antiviral, acute respiratory distress syndrome, disseminated intravascular coagulation, and acute pancreatitis, as well as Fedsyra and phenylephrine ready-to-use pre-filled syringe product candidates. The company was formerly known as AcelRx Pharmaceuticals, Inc. and changed its name to Talphera, Inc. in January 2024. The company was incorporated in 2005 and is based in San Mateo, California.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Drug Manufacturers - Spe Market Cap 36.05M
Enterprise Value 22.27M Income -14.36M Sales 28.00K
Book/sh 0.34 Cash/sh 0.41 Dividend Yield —
Payout 0.00% Employees 12 IPO —
P/E — Forward P/E -2.57 PEG —
P/S 1287.53 P/B 2.09 P/C —
EV/EBITDA — EV/Sales 795.32 Quick Ratio 5.35
Current Ratio 5.49 Debt/Eq 38.15 LT Debt/Eq —
EPS (ttm) -0.34 EPS next Y -0.28 EPS Growth —
Revenue Growth — Earnings 2026-05-13 ROA -35.15%
ROE -114.74% ROIC — Gross Margin 0.00%
Oper. Margin -481.57% Profit Margin 0.00% Shs Outstand 50.05M
Shs Float 25.15M Short Float 2.26% Short Ratio 4.87
Short Interest — 52W High 1.57 52W Low 0.38
Beta 0.56 Avg Volume 247.35K Volume 7.31K
Target Price $3.25 Recom Strong_buy Prev Close $0.71
Price $0.72 Change 1.31%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$3.25
Mean price target
2. Current target
$0.74
Latest analyst target
3. DCF / Fair value
$-2.35
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$0.74
Low
$3.00
High
$3.50
Mean
$3.25

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-04-01 reit HC Wainwright & Co. Buy → Buy $6
2025-01-21 reit HC Wainwright & Co. Buy → Buy $6
2024-08-16 reit HC Wainwright & Co. Buy → Buy $6
2024-05-15 reit HC Wainwright & Co. Buy → Buy $6
2024-05-06 init Maxim Group — → Buy $3
2024-03-07 reit HC Wainwright & Co. Buy → Buy $6
2024-01-22 main HC Wainwright & Co. Buy → Buy $6
2023-12-07 reit HC Wainwright & Co. Buy → Buy $5
2023-10-02 init Alliance Global Partners — → Buy $4
2023-09-25 main HC Wainwright & Co. Buy → Buy $5
2023-08-18 up HC Wainwright & Co. Neutral → Buy $8
News
RSS: Latest TLPH news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-13 ANGOTTI VINCENT J Chief Executive Officer — 213,310 $0.80 $169,965
2026-02-12 ASADORIAN RAFFI Chief Financial Officer — 45,000 $0.81 $36,554
2026-02-12 ASLAM SHAKIL Officer — 35,000 $0.81 $28,430
2026-02-12 ANGOTTI VINCENT J Chief Executive Officer — 105,364 $0.81 $85,587
2026-02-12 DASU BADRI N Officer — 35,000 $0.81 $28,430
2025-10-23 WAN MARK ALLEN Director — 4,267 $0.00 $0
2025-10-23 HOFFMAN STEPHEN J. M.D., PH.D. Director — 4,267 $0.00 $0
2025-10-23 ADAMS ADRIAN Director — 4,267 $0.00 $0
2025-10-23 BROADFOOT JILL MARIE Director — 4,267 $0.00 $0
2025-10-23 BOZILENKO MARINA Director — 4,267 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
0.03
0.00
-100.00%
0.65
0.00
Operating Revenue
0.03
0.00
-100.00%
0.65
0.00
Cost Of Revenue
—
—
—
2.59
Reconciled Cost Of Revenue
—
—
—
2.59
Gross Profit
—
—
—
-0.82
Operating Expense
13.51
-11.41%
15.25
-13.04%
17.54
-13.82%
20.35
Research And Development
6.03
-10.20%
6.72
+21.13%
5.55
+66.00%
3.34
Selling General And Administration
7.48
-12.36%
8.53
-28.85%
11.99
-29.49%
17.01
Total Expenses
13.51
-11.41%
15.25
-13.04%
17.54
-13.82%
20.35
Operating Income
-13.48
+11.59%
-15.25
+9.69%
-16.89
+17.02%
-20.35
Total Operating Income As Reported
-13.48
+11.59%
-15.25
+9.69%
-16.89
+33.25%
-25.30
EBITDA
-14.36
-13.90%
-12.61
-28.12%
-9.84
-115.90%
61.90
Normalized EBITDA
-13.05
+10.46%
-14.57
+3.88%
-15.16
+11.86%
-17.20
Reconciled Depreciation
—
0.00
-100.00%
0.31
-81.12%
1.65
EBIT
-14.36
-13.90%
-12.61
-24.20%
-10.15
-116.85%
60.25
Total Unusual Items
-1.31
-166.99%
1.96
-63.10%
5.32
-93.27%
79.10
Total Unusual Items Excluding Goodwill
-1.31
-166.99%
1.96
-63.10%
5.32
-93.27%
79.10
Special Income Charges
—
—
0.00
-100.00%
79.10
Other Special Charges
—
—
—
-84.05
Impairment Of Capital Assets
—
—
0.00
-100.00%
4.95
Net Income
-14.29
-9.89%
-13.00
+29.31%
-18.40
-138.52%
47.76
Pretax Income
-14.36
-10.45%
-13.00
-26.41%
-10.29
-117.39%
59.14
Net Non Operating Interest Income Expense
0.44
+52.98%
0.28
-77.77%
1.28
+232.12%
0.39
Interest Expense Non Operating
0.00
-100.00%
0.39
+194.03%
0.13
-87.99%
1.12
Net Interest Income
0.44
+52.98%
0.28
-77.77%
1.28
+232.12%
0.39
Interest Expense
0.00
-100.00%
0.39
+194.03%
0.13
-87.99%
1.12
Interest Income Non Operating
0.44
-35.79%
0.68
-52.05%
1.42
-5.73%
1.50
Interest Income
0.44
-35.79%
0.68
-52.05%
1.42
-5.73%
1.50
Other Income Expense
-1.31
-166.99%
1.96
-63.10%
5.32
-93.27%
79.10
Other Non Operating Income Expenses
—
—
—
84.05
Gain On Sale Of Security
-1.31
-166.99%
1.96
-63.10%
5.32
—
Tax Provision
—
—
0.00
-100.00%
0.01
Tax Rate For Calcs
0.00
0.00
0.00
-100.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
-100.00%
0.02
Net Income Including Noncontrolling Interests
-14.29
-9.89%
-13.00
+29.31%
-18.40
-138.52%
47.76
Net Income From Continuing Operation Net Minority Interest
-14.36
-10.45%
-13.00
-26.41%
-10.29
-117.40%
59.12
Net Income From Continuing And Discontinued Operation
-14.29
-9.89%
-13.00
+29.31%
-18.40
-138.52%
47.76
Net Income Continuous Operations
-14.36
-10.45%
-13.00
-26.41%
-10.29
-117.40%
59.12
Net Income Discontinuous Operations
0.07
0.00
+100.00%
-8.11
+28.67%
-11.37
Normalized Income
-13.05
+12.82%
-14.97
+4.10%
-15.61
+21.81%
-19.96
Net Income Common Stockholders
-14.29
-9.89%
-13.00
+29.31%
-18.40
-143.46%
42.33
Otherunder Preferred Stock Dividend
—
—
0.00
-100.00%
5.24
Diluted EPS
-0.34
+32.00%
-0.50
+61.24%
-1.29
-122.55%
5.72
Basic EPS
-0.34
+32.00%
-0.50
+61.24%
-1.29
-122.51%
5.73
Basic Average Shares
42.41
+64.09%
25.85
+81.20%
14.26
+93.14%
7.39
Diluted Average Shares
42.41
+64.09%
25.85
+81.20%
14.26
+92.57%
7.41
Diluted NI Availto Com Stockholders
-14.29
-9.89%
-13.00
+29.31%
-18.40
-143.45%
42.34
Preferred Stock Dividends
—
—
—
0.19
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
29.72
+62.97%
18.24
-10.59%
20.39
-57.05%
47.49
Current Assets
20.90
+121.94%
9.42
-18.65%
11.58
-52.88%
24.57
Cash Cash Equivalents And Short Term Investments
20.38
+129.96%
8.86
-5.52%
9.38
-40.51%
15.77
Cash And Cash Equivalents
5.89
-33.50%
8.86
+54.92%
5.72
-62.55%
15.28
Cash Equivalents
5.48
-35.52%
8.50
+94.09%
4.38
—
Cash Financial
0.41
+13.74%
0.36
-72.88%
1.34
—
Other Short Term Investments
14.49
0.00
-100.00%
3.66
+639.39%
0.49
Receivables
—
—
—
0.31
Accounts Receivable
—
—
—
0.31
Inventory
—
—
—
1.18
Raw Materials
—
—
—
0.80
Work In Process
—
—
—
0.34
Finished Goods
—
—
—
0.04
Prepaid Assets
—
—
—
—
Restricted Cash
—
—
0.00
-100.00%
5.00
Assets Held For Sale Current
—
—
0.00
-100.00%
1.93
Other Current Assets
0.52
-6.32%
0.55
-74.76%
2.19
+17.69%
1.86
Total Non Current Assets
8.82
+0.00%
8.82
+0.00%
8.82
-61.52%
22.92
Net PPE
—
—
—
13.86
Gross PPE
—
—
—
25.45
Accumulated Depreciation
—
—
—
-11.59
Properties
—
—
—
0.00
Machinery Furniture Equipment
—
—
—
1.81
Construction In Progress
—
—
—
8.98
Other Properties
—
—
—
8.82
Leases
—
—
—
5.84
Goodwill And Other Intangible Assets
8.82
+0.00%
8.82
+0.00%
8.82
+0.00%
8.82
Other Intangible Assets
8.82
+0.00%
8.82
+0.00%
8.82
+0.00%
8.82
Other Non Current Assets
—
—
0.02
-99.86%
14.10
Total Liabilities Net Minority Interest
12.68
+23.93%
10.23
+62.72%
6.29
-75.50%
25.67
Current Liabilities
3.81
+43.90%
2.65
-41.33%
4.51
-67.23%
13.77
Payables And Accrued Expenses
1.77
+69.25%
1.04
-41.22%
1.78
-13.58%
2.06
Payables
0.54
-18.81%
0.67
-49.85%
1.34
+6.37%
1.26
Accounts Payable
0.54
-18.81%
0.67
-49.85%
1.34
+6.37%
1.26
Current Accrued Expenses
1.22
+227.01%
0.37
-15.00%
0.44
-44.93%
0.80
Pensionand Other Post Retirement Benefit Plans Current
1.39
+58.18%
0.88
-56.11%
2.00
+15.76%
1.73
Current Debt And Capital Lease Obligation
—
—
—
5.36
Current Debt
—
—
—
5.36
Other Current Borrowings
—
—
—
5.76
Current Capital Lease Obligation
—
—
—
1.70
Current Deferred Liabilities
—
—
—
0.12
Current Deferred Revenue
—
—
—
0.12
Other Current Liabilities
0.65
-10.10%
0.72
-1.09%
0.73
-84.18%
4.62
Total Non Current Liabilities Net Minority Interest
8.88
+16.96%
7.59
+326.77%
1.78
-85.06%
11.90
Liabilities Heldfor Sale Non Current
—
—
0.00
-100.00%
4.00
Long Term Debt And Capital Lease Obligation
—
—
—
2.96
Long Term Debt
—
—
—
—
Long Term Capital Lease Obligation
—
—
—
2.96
Non Current Deferred Liabilities
—
—
—
1.04
Non Current Deferred Revenue
—
—
—
1.04
Other Non Current Liabilities
6.50
-0.43%
6.53
—
0.81
Stockholders Equity
17.04
+112.91%
8.00
-43.28%
14.11
-35.34%
21.81
Common Stock Equity
17.04
+112.91%
8.00
-43.28%
14.11
-35.34%
21.81
Capital Stock
0.05
+188.24%
0.02
+0.00%
0.02
+112.50%
0.01
Common Stock
0.05
+188.24%
0.02
+0.00%
0.02
+112.50%
0.01
Share Issued
49.33
+189.66%
17.03
+0.45%
16.95
+105.64%
8.24
Ordinary Shares Number
49.33
+189.66%
17.03
+0.45%
16.95
+105.64%
8.24
Additional Paid In Capital
488.51
+5.01%
465.21
+1.51%
458.31
+2.39%
447.63
Retained Earnings
-471.52
-3.13%
-457.23
-2.93%
-444.23
-4.32%
-425.83
Total Equity Gross Minority Interest
17.04
+112.91%
8.00
-43.28%
14.11
-35.34%
21.81
Total Capitalization
17.04
+112.91%
8.00
-43.28%
14.11
-35.34%
21.81
Working Capital
17.09
+152.45%
6.77
-4.16%
7.06
-34.57%
10.80
Invested Capital
17.04
+112.91%
8.00
-43.28%
14.11
-48.10%
27.18
Total Debt
—
—
—
5.36
Net Debt
—
—
—
—
Capital Lease Obligations
—
—
—
4.66
Net Tangible Assets
8.22
+1104.40%
-0.82
-115.47%
5.29
-59.32%
12.99
Tangible Book Value
8.22
+1104.40%
-0.82
-115.47%
5.29
-59.32%
12.99
Current Notes Payable
—
—
—
5.76
Derivative Product Liabilities
2.38
+123.94%
1.06
-40.33%
1.78
-74.95%
7.10
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-11.36
+10.40%
-12.68
+27.49%
-17.49
+38.26%
-28.33
Cash Flow From Continuing Operating Activities
-11.36
+10.40%
-12.68
+27.49%
-17.49
+38.26%
-28.33
Net Income From Continuing Operations
-14.29
-9.89%
-13.00
+29.31%
-18.40
-138.52%
47.76
Depreciation Amortization Depletion
—
0.00
-100.00%
0.31
-81.12%
1.65
Depreciation And Amortization
—
0.00
-100.00%
0.31
-81.12%
1.65
Other Non Cash Items
-0.03
-107.11%
0.39
+122.29%
-1.77
+97.92%
-84.95
Stock Based Compensation
0.70
-29.32%
0.99
-42.80%
1.73
-40.15%
2.89
Asset Impairment Charge
—
0.00
-100.00%
7.92
+60.02%
4.95
Operating Gains Losses
1.31
+283.40%
-0.72
+87.47%
-5.72
-838.06%
0.78
Gain Loss On Investment Securities
1.31
+283.40%
-0.72
+86.52%
-5.32
-786.45%
0.78
Change In Working Capital
1.08
+583.04%
-0.22
+85.46%
-1.54
-10.86%
-1.39
Change In Receivables
—
—
-0.19
-26.85%
-0.15
Changes In Account Receivables
—
—
-0.19
-26.85%
-0.15
Change In Inventory
—
0.00
-100.00%
0.06
+157.01%
-0.11
Change In Prepaid Assets
0.04
-97.87%
1.64
+483.99%
0.28
-6.02%
0.30
Change In Payables And Accrued Expense
1.05
+156.14%
-1.86
-9.26%
-1.71
-60.73%
-1.06
Change In Accrued Expense
1.25
+205.11%
-1.19
-5.48%
-1.13
+29.82%
-1.61
Change In Payable
-0.21
+69.00%
-0.67
-16.70%
-0.57
-204.36%
0.55
Change In Account Payable
-0.21
+69.00%
-0.67
-16.70%
-0.57
-204.36%
0.55
Change In Other Working Capital
—
—
-0.03
+66.28%
-0.09
Change In Other Current Assets
—
—
0.23
0.00
Change In Other Current Liabilities
—
0.00
+100.00%
-0.15
+48.42%
-0.28
Investing Cash Flow
-14.35
-479.40%
3.78
+816.10%
-0.53
-101.45%
36.45
Cash Flow From Continuing Investing Activities
-14.35
-479.40%
3.78
+816.10%
-0.53
-101.45%
36.45
Net PPE Purchase And Sale
—
0.00
+100.00%
-0.10
+72.53%
-0.36
Purchase Of PPE
—
0.00
+100.00%
-0.10
+72.53%
-0.36
Capital Expenditure
—
—
-0.10
+72.53%
-0.36
Net Investment Purchase And Sale
-14.35
-479.40%
3.78
+219.99%
-3.15
-108.18%
38.50
Purchase Of Investment
-17.82
-257.80%
-4.98
-36.37%
-3.65
+53.56%
-7.86
Sale Of Investment
3.47
-60.39%
8.76
+1652.00%
0.50
-98.92%
46.36
Net Other Investing Changes
—
—
2.72
+261.41%
-1.69
Financing Cash Flow
22.74
+88.81%
12.04
+247.49%
3.47
+783.63%
-0.51
Cash Flow From Continuing Financing Activities
22.74
+88.81%
12.04
+247.49%
3.47
+783.63%
-0.51
Net Issuance Payments Of Debt
—
0.00
+100.00%
-5.42
+35.78%
-8.43
Repayment Of Debt
—
0.00
+100.00%
-5.42
+35.78%
-8.43
Long Term Debt Payments
—
0.00
+100.00%
-5.42
+35.78%
-8.43
Net Long Term Debt Issuance
—
0.00
+100.00%
-5.42
+35.78%
-8.43
Net Common Stock Issuance
—
0.00
-100.00%
8.86
+10.89%
7.99
Repurchase Of Capital Stock
—
—
0.00
+100.00%
-0.32
Proceeds From Stock Option Exercised
22.74
+284.71%
5.91
+22634.62%
0.03
-64.86%
0.07
Net Other Financing Charges
—
6.13
+27977.27%
-0.02
+62.07%
-0.06
Changes In Cash
-2.97
-194.49%
3.14
+121.59%
-14.55
-291.20%
7.61
Beginning Cash Position
8.86
+54.92%
5.72
-71.78%
20.27
+60.11%
12.66
End Cash Position
5.89
-33.50%
8.86
+54.92%
5.72
-71.78%
20.27
Free Cash Flow
-11.36
+10.40%
-12.68
+27.90%
-17.59
+38.69%
-28.70
Interest Paid Supplemental Data
—
0.00
-100.00%
0.12
-85.78%
0.84
Amortization Of Securities
-0.14
-17.36%
-0.12
-404.17%
-0.02
—
Common Stock Issuance
—
0.00
-100.00%
8.86
+10.89%
7.99
Issuance Of Capital Stock
—
0.00
-100.00%
8.86
+7.67%
8.22
Net Preferred Stock Issuance
—
—
0.00
+100.00%
-0.08
Preferred Stock Issuance
—
—
0.00
-100.00%
0.24
Preferred Stock Payments
—
—
0.00
+100.00%
-0.32
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Trades
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status
Posts
Published Title Author Category