The earnings call presented a mix of positive and negative aspects. While there are significant achievements in financial stability, regulatory clarity, and enrollment progress, the delays in site activation and enrollment challenges pose notable concerns.

Company Guidance

During the third quarter 2025 financial results call, Talphera, Inc. provided updates on its financial position and progress in the nephro study. The company completed the first closing of $17 million in a two-tranche financing, including a $5 million strategic minority investment from CorMedix. Additionally, $12 million was invested by institutional investors, with a commitment for another $12 million contingent on achieving the nephro study's primary endpoint and maintaining a stock price above $0.69 per share for five consecutive days. The study's enrollment rate improved at existing sites, but delays in activating new sites pushed expected completion to the first half of 2026. Talphera's cash balance as of September 30, 2025, was $21.3 million, with cash operating expenses for the year expected to range between $14 million and $15 million, down from previous guidance due to study delays. The company remains confident in the Nefamostat program's low clinical, regulatory, and commercial risks, aiming for FDA approval of NIAID by late 2026.

Successful Financing

Completed the first closing of $17 million in a two-tranche financing, including a strategic investment by CorMedix, which provides a 60-day exclusive negotiation period for a potential acquisition.

Positive Enrollment in Nephro Study

Enrollment at existing target profile sites continues to impress, with accelerated enrollment rate following restructuring of the study.

Clear Regulatory Path

NIAID has a breakthrough designation from the FDA, providing efficient access for quick reviews and responses.

Cost Efficiency

Cash operating expenses for 2025 decreased to $3.4 million from $3.7 million in 2024 due to reductions in personnel and SG&A expenses.

Strong Financial Position

Cash balance at September 30, 2025, was $21.3 million, expected to provide sufficient capital until at least anticipated NIAID PMA approval in late 2026.

Talphera (TLPH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TLPH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 05, 2026	2025 (Q4)	-0.14 / -	-0.07	―	―	―
Nov 12, 2025	2025 (Q3)	-0.13 / -0.11	-0.13	15.38% (+0.02)	―
Aug 14, 2025	2025 (Q2)	-0.13 / -0.10	-0.15	33.33% (+0.05)	―
May 14, 2025	2025 (Q1)	- / -0.10	-0.16	37.50% (+0.06)	―
Mar 31, 2025	2024 (Q4)	-0.14 / -0.10	-0.16	37.50% (+0.06)	―
Nov 13, 2024	2024 (Q3)	-0.19 / -0.13	-0.08	-62.50% (-0.05)	―
Aug 14, 2024	2024 (Q2)	-0.21 / -0.15	-0.41	63.41% (+0.26)	―
May 14, 2024	2024 (Q1)	-0.25 / -0.16	-0.75	78.67% (+0.59)	―
Mar 06, 2024	2023 (Q4)	-0.20 / -0.25	-1	75.00% (+0.75)	―
Nov 08, 2023	2023 (Q3)	-0.28 / -0.08	-0.94	91.49% (+0.86)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TLPH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2025	$1.29	―	―
Aug 14, 2025	$0.43	$0.42	-2.33%
May 14, 2025	$0.51	$0.49	-3.92%
Mar 31, 2025	$0.50	$0.53	+6.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Talphera (TLPH) report earnings?

Talphera (TLPH) is schdueled to report earning on Mar 05, 2026, After Close (Confirmed).

What is Talphera (TLPH) earnings time?

Talphera (TLPH) earnings time is at Mar 05, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TLPH EPS forecast?

TLPH EPS forecast for the fiscal quarter 2025 (Q4) is -0.14.

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