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Companies / Health Care / Talphera, Inc.
TLPH

Talphera, Inc.

Health CarePharmaceutical Preparations
Ticker TLPHSAN MATEO, CAFiscal year ends DecemberBook value per share $1.01Diluted shares 14.3M

Talphera, Inc. (Nasdaq: TLPH) is a specialty pharmaceutical company focused on developing and commercializing therapies for medically supervised settings. Its portfolio centers on Niyad, a lyophilized nafamostat formulation being studied as a regional anticoagulant infused into the extracorporeal circuit during… From the company’s description.

In fiscal 2025, Talphera, Inc. reported revenue of $0.03M and a net loss of $14.29M. Operations used $11.36M in cash.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$0.03MFY2025
Last 12 mo $0.00M
-48157.14%FY2025
Last 12 mo -1474700.00%
$-14.29MFY2025
−9.9% year over year
Last 12 mo $-15.08M
-83.89%FY2025
+78.6 percentage points
Last 12 mo -104.65%
Cash & financing
$-11.36MFY2025
+10.4% year over year
Last 12 mo $-12.27M
$-11.36MFY2025
+10.4% year over year
Last 12 mo $-12.27M
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Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Talphera, Inc. does

In the company’s own words

Talphera, Inc. (Nasdaq: TLPH) is a specialty pharmaceutical company focused on developing and commercializing therapies for medically supervised settings. Its portfolio centers on Niyad, a lyophilized nafamostat formulation being studied as a regional anticoagulant infused into the extracorporeal circuit during continuous renal replacement therapy for hospitalized adults with acute kidney injury, particularly patients who cannot tolerate heparin or are at risk of bleeding. Niyad is in an ongoing U.S. registrational trial and has FDA Breakthrough Device Designation and an Investigational Device Exemption. The company is also evaluating LTX-608, a nafamostat formulation for direct intravenous infusion, for potential use in disseminated intravascular coagulation, acute respiratory distress syndrome, acute pancreatitis or antiviral treatment. Its pre-filled syringe candidates include Fedsyra, an ephedrine product, and phenylephrine; the company is assessing whether to discontinue these programs. Talphera acquired Niyad and LTX-608 through its 2022 acquisition of Lowell Therapeutics. It divested DSUVIA in 2023 and no longer plans to develop other sufentanil products.

Company details
Sector
Health Care
Industry (SIC)
Pharmaceutical Preparations
Headquarters
SAN MATEO, CA
Fiscal year end
December
CIK
1427925
SIC
2834

Financial performance, year by year

Fiscal 2011–2025 · USD
$-63.34M$-33.04M$-2.74M$27.56M$57.85M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Talphera, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

6
funds hold it
0 of 35
superinvestors hold it
$1.00M
held by funds, at market
2.0%
of shares held by funds

Largest fund holders · Talphera, Inc.’s weight in each

VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Extended Market Index Fund
FSMAX · Fidelity Concord Street Trust
—of fund net assets
Fidelity Total Market Index Fund
FSKAX · Fidelity Concord Street Trust
—of fund net assets
Fidelity Series Total Market Index Fund
FCFMX · Fidelity Concord Street Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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