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NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

Talphera, Inc. TLPH

19 fiscal years on record · USD · FY2025 reported · SEC filings only
$28,000
$-14.3M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Our portfolio is principally focused on our lead product candidate, Niyad (nafamostat mesylate), for use as a regional anticoagulant during continuous renal replacement therapy, or CRRT. In addition, Talphera may develop LTX-608, a nafamostat formulation for direct IV infusion for one or more of the following indications: disseminated intravascular coagulation, or DIC, acute respiratory distress syndrome, or ARDS, acute pancreatitis, or as an anti-viral treatment. We are developing Niyad to become the first and only FDA-approved regional anticoagulant for use in adult patients undergoing CRRT. Niyad is infused into the extracorporeal circuit, such as the dialysis circuit during CRRT for acute kidney injury, or AKI, patients in the hospital. As of December 31, 2025, Talphera employed 12 full-time employees, most of whom work out of its corporate offices in San Mateo, CA.

Written from the business description in Talphera, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 23 March 2026. Every sentence was checked against that document before publication.

Growth

USD 28,000.00
Revenue, FY2025 · full 19-year series below
Revenue $M Net income $M
FY2025 · Revenue 0.0 · Net income -14.3
20M40M-20M-40M
2007201020132016201920222025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

·
Operating margin Net margin
FY2025 · Operating -48157.1% · Net ·
-20000%-40000%
200720162025
ROE
FY2025 · ROE -114.2%
-50%-100%
200720162025
Three returns, three denominators.

Each USD of equity lost 114 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -12.7
-20M-40M
200720162025

Total assetsUSD 29.7M
EquityUSD 17.0M
CashUSD 5.9M
Current ratio5.49×

Equity funds 57% of total assets.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
TLPH, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0◌◌◌◌
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0◌◌
EBITDA $B◌−0.0−0.0−0.0−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0◌◌
Income tax $B0.00.00.00.00.00.00.00.0−0.0−0.00.00.00.00.00.0◌◌◌◌
Net income $B−0.0−0.0−0.00.0−0.0−0.0−0.1−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B◌−0.0−0.0−0.0−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0◌◌
EPS, diluted $◌◌−1.295.72−5.86−0.47−0.67−0.81−1.10−0.95−0.60−0.91−0.59−1.51−1.16−21.84−34.93◌◌
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————————————————
ROE %−114.2−117.7−102.4———————−61.2−55.7−43.8−130.0—————
Shares out B0.050.020.020.010.140.100.080.080.050.050.050.040.040.040.020.00◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 67 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Eight checks were skipped: cost of revenue is not tagged before 2015. Six checks were skipped: the balance sheet is not tagged before 2010. Three checks were skipped: the share count is not tagged before 2010.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2007

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