Talphera (TLPH)
NASDAQ:TLPH
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Talphera
(NASDAQ:TLPH)
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Rating:45Neutral
Price Target:
$0.71
▼(-35.27% Downside)
Action:ReiteratedDate:03/25/26
The score is primarily held down by weak financial performance (minimal revenue, sustained losses, and ongoing cash burn) and bearish technicals (below key moving averages with negative MACD). Liquidity improvements and a clearer regulatory path from the earnings call partially offset these risks, but the Nasdaq bid-price compliance issue adds additional downside uncertainty.
Positive Factors
Improved balance sheet
No debt and positive equity in 2025 materially reduce near-term solvency risk and give management more strategic flexibility. This stronger capital structure supports continued R&D and partnership options, limiting refinancing pressure while the company pursues regulatory milestones.
Negative Factors
Persistent cash burn
Consistent negative operating and free cash flow forces continued external financing or partnerships to fund operations. That recurring cash burn raises dilution and refinancing risk, constraining investment in commercialization and increasing execution dependence on successful study outcomes or partner support.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved balance sheet
No debt and positive equity in 2025 materially reduce near-term solvency risk and give management more strategic flexibility. This stronger capital structure supports continued R&D and partnership options, limiting refinancing pressure while the company pursues regulatory milestones.
Read all positive factors
Talphera (TLPH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.65M
Dividend YieldN/A
Average Volume (3M)2.97M
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth-90.04%
EPS Growth44.40%
CountryUS
Employees13
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.06
Shares Outstanding50,049,824
10 Day Avg. Volume675,544
30 Day Avg. Volume2,969,035
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)2.84
Price to Sales (P/S)1726.72
P/FCF Ratio-4.25
Enterprise Value/Market Cap0.40
Enterprise Value/Revenue578.93
Enterprise Value/Gross Profit-14.21
Enterprise Value/Ebitda-1.42
Forecast
1Y Price Target
$3.25Price Target Upside195.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.29
Revenue Forecast (FY)N/A
Talphera Business Overview & Revenue Model
Company Description
Talphera, Inc., a specialty pharmaceutical company, focuses on the development and commercialization of therapies for use in medically supervised settings. Its lead product candidate is Niyad, a lyophilized formulation of nafamostat, which is unde...
How the Company Makes Money
As a clinical-stage biopharmaceutical company, Talphera’s ability to generate recurring product revenue is not clearly established from publicly available information in this context; therefore, specific, current revenue streams cannot be stated w...
Talphera Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Neutral
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.Positive Updates
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.
Negative Updates
Delays in Site Activation
The initiation of six additional target profile sites has been slower than anticipated, delaying the study completion to the first half of next year.
Read all updates
Q3-2025 Updates
Positive
Negative
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.
Read all positive updates
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.Talphera Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
27
Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.00K | 0.00 | 651.00K | 0.00 | 378.00K |
| Gross Profit | 28.00K | -6.72M | -4.89M | -1.65M | -2.63M |
| EBITDA | -13.48M | -15.16M | -16.79M | 61.90M | -16.14M |
| Net Income | -14.29M | -13.00M | -18.40M | 42.52M | -35.10M |
Balance Sheet | |||||
| Total Assets | 29.72M | 18.24M | 20.39M | 47.49M | 77.89M |
| Cash, Cash Equivalents and Short-Term Investments | 20.38M | 8.86M | 9.38M | 15.77M | 46.63M |
| Total Debt | 6.50M | 6.53M | 0.00 | 10.02M | 18.62M |
| Total Liabilities | 12.68M | 10.24M | 6.29M | 25.67M | 113.79M |
| Stockholders Equity | 17.04M | 8.00M | 14.11M | 21.81M | -35.89M |
Cash Flow | |||||
| Free Cash Flow | -11.36M | -12.68M | -17.59M | -28.70M | -31.83M |
| Operating Cash Flow | -11.36M | -12.68M | -17.49M | -28.33M | -30.00M |
| Investing Cash Flow | -14.35M | 3.78M | -528.00K | 36.45M | -26.12M |
| Financing Cash Flow | 22.74M | 12.04M | 3.47M | -507.00K | 41.51M |
Talphera Technical Analysis
Neutral
1.10
Price Trends
0.83
Negative
1.00
Negative
0.88
Negative
Market Momentum
-0.02
Negative
50.82
Neutral
70.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TLPH, the sentiment is Neutral. The current price of 1.1 is above the 20-day moving average (MA) of 0.78, above the 50-day MA of 0.83, and above the 200-day MA of 0.88, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 50.82 is Neutral, neither overbought nor oversold. The STOCH value of 70.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TLPH.
Talphera Risk Analysis
Talphera disclosed 49 risk factors in its most recent earnings report. Talphera reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Talphera Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $40.65M | -3.20 | -118.01% | ― | -90.04% | 44.40% | |
45 Neutral | $6.86M | -10.73 | -40.66% | ― | -1.50% | 80.17% | |
44 Neutral | $5.10M | -0.86 | -24.34% | ― | 13.24% | 98.80% | |
40 Underperform | $2.21M | -0.26 | -93.87% | ― | -0.74% | 81.49% |
* Healthcare Sector Average
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Talphera Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
Talphera Receives Nasdaq Notice on Minimum Bid Price
Negative
Mar 13, 2026
On March 11, 2026, Talphera, Inc. disclosed that it had received a notice from Nasdaq stating the company was no longer in compliance with the exchange’s $1.00 minimum bid price requirement, after its shares traded below that threshold for 3...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.