Want to see TLPH full AI Analyst Report?
Top Page
Talphera
(NASDAQ:TLPH)
Select Model
Select Model
Rating:52Neutral
Price Target:
$1.00
▼(-25.93% Downside)
Action:Reiterated
Date:08/18/26
Overall score reflects a high-risk fundamentals backdrop (minimal revenue, sizable losses, and ongoing cash burn) partially offset by a comparatively positive earnings call update with clear clinical/regulatory milestones and favorable safety/market signals. Technicals are mixed and valuation is constrained by unprofitability and lack of dividend yield data.
Positive Factors
Clinical development progress
Advanced enrollment and activated sites reduce development uncertainty and move Talphera toward a registrational readout. Successful completion could support a PMA filing and create a pathway to commercial revenue from NEPHRO CRRT.
Negative Factors
Persistent cash burn
Ongoing operating and free-cash-flow deficits show that Talphera cannot currently fund development from operations. Continued spending before commercialization increases dependence on financing and could dilute shareholders or constrain execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical development progress
Advanced enrollment and activated sites reduce development uncertainty and move Talphera toward a registrational readout. Successful completion could support a PMA filing and create a pathway to commercial revenue from NEPHRO CRRT.
Read all positive factors
Talphera (TLPH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$63.84M
Dividend YieldN/A
Average Volume (3M)2.97M
Price to Earnings (P/E)―
Beta (1Y)0.95
Revenue Growth-96.30%
EPS Growth35.57%
CountryUS
Employees12
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.29
Shares Outstanding51,905,796
10 Day Avg. Volume675,544
30 Day Avg. Volume2,969,035
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)2.84
Price to Sales (P/S)1726.72
P/FCF Ratio-4.25
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue0.07
Enterprise Value/Gross Profit0.07
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$3.00Price Target Upside122.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.24
Revenue Forecast (FY)N/A
Talphera Business Overview & Revenue Model
Company Description
Talphera, Inc. is a specialty pharmaceutical company focused on developing and commercializing therapeutic products intended for use in carefully monitored medical environments. Their lead experimental candidate is Niyad, a lyophilized (freeze-dri...
How the Company Makes Money
null...
Talphera Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Positive
The call presents strong clinical and commercial momentum: 75% enrollment in a registrational trial, positive DSMB feedback, KDIGO recognition of nafamostat, expanded market sizing (+21%), and encouraging dosing/titration data. Financially the company has runway assumptions but relies on conditional financing (~$16M) and faces modest near-term expense increases and regulatory timing uncertainty. On balance the achievements and favorable clinical/commercial signals outweigh the financing and timing risks.Positive Updates
Clinical Enrollment Progress
NEPHRO CRRT registrational study is 75% enrolled with all final clinical sites activated and aligned to nephrologist PIs; company expects to complete enrollment later this year and obtain top-line data ~4 weeks after completion.
Negative Updates
Tight Near-Term Cash Position and Conditional Financing Risk
Cash on hand of $17.1M relies on two conditional financing tranches totaling ~ $16M to fund operations through expected regulatory milestones; those tranches are contingent on meeting conditions and are expected to close around top-line data, creating execution and timing risk.
Read all updates
Q2-2026 Updates
Positive
Negative
Clinical Enrollment Progress
NEPHRO CRRT registrational study is 75% enrolled with all final clinical sites activated and aligned to nephrologist PIs; company expects to complete enrollment later this year and obtain top-line data ~4 weeks after completion.
Read all positive updates
Company Guidance
Management reiterated that the NEPHRO CRRT registrational study is ~75% enrolled with all sites activated and remains on track to complete enrollment later this year, with top‑line data expected ~4–5 weeks after completion and a PMA submission targeted in the first half of 2027 (with potential PMA approval expected in 2027); two conditional financing tranches totaling approximately $16.0M are expected to close around the top‑line/readout and, together with $17.1M cash at June 30, 2026, are believed to fund the company through a potential 2027 approval. Commercial and market metrics highlighted include an updated U.S. CRRT procedure estimate of ~200,000 in 2027 (a 21% increase from a prior 165,000 estimate), ~70 institutions representing >50% of procedures, citrate use in ~25% of U.S. sites (i.e., ~75% without citrate), nafamostat use ~80% in Japan (2018) and approved in South Korea since 2005, and primary market research with >30 physicians; operational/treatment metrics discussed include 80–85% of patients at therapeutic range on the starting dose (near 100% within ~30 minutes), typical nafamostat dosing around 20–25 mg/hr versus a 50 mg/hr ceiling with most patients titrated below half the maximum, titration opportunities every 15 minutes, and Q2 2026 cash operating expenses of $3.9M ($3.7M excluding stock‑based comp) versus $3.7M ($3.5M ex‑comp) in Q2 2025.Talphera Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.00K | 28.00K | 0.00 | 651.00K | 0.00 | 378.00K |
| Gross Profit | 1.00K | 28.00K | -6.72M | -4.89M | -1.65M | -2.63M |
| EBITDA | -14.13M | -14.36M | -12.51M | -10.06M | 61.90M | -12.88M |
| Net Income | -15.08M | -14.29M | -13.00M | -18.40M | 42.52M | -35.10M |
Balance Sheet | ||||||
| Total Assets | 26.81M | 29.72M | 18.24M | 20.39M | 47.49M | 77.89M |
| Cash, Cash Equivalents and Short-Term Investments | 17.08M | 20.38M | 8.86M | 9.38M | 15.77M | 46.63M |
| Total Debt | 0.00 | 6.50M | 6.53M | 0.00 | 10.02M | 18.62M |
| Total Liabilities | 12.40M | 12.68M | 10.24M | 6.29M | 25.67M | 113.79M |
| Stockholders Equity | 14.41M | 17.04M | 8.00M | 14.11M | 21.81M | -35.89M |
Cash Flow | ||||||
| Free Cash Flow | -12.27M | -11.36M | -12.68M | -17.59M | -28.70M | -31.83M |
| Operating Cash Flow | -12.27M | -11.36M | -12.68M | -17.49M | -28.33M | -30.00M |
| Investing Cash Flow | -15.96M | -14.35M | 3.78M | -528.00K | 36.45M | -26.12M |
| Financing Cash Flow | 22.18M | 22.74M | 12.04M | 3.47M | -507.00K | 41.51M |
Talphera Technical Analysis
Neutral
1.35
Price Trends
1.19
Positive
1.00
Positive
1.03
Positive
Market Momentum
0.02
Positive
42.94
Neutral
26.50
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 1.35 is above the 20-day moving average (MA) of 1.33, above the 50-day MA of 1.19, and above the 200-day MA of 1.03, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 42.94 is Neutral, neither overbought nor oversold. The STOCH value of 26.50 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 44 risk factors in its most recent earnings report. Talphera reported the most risks in the "Tech & Innovation" 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 |
|---|---|---|---|---|---|---|---|
54 Neutral | $1.81B | -1.03 | -55.97% | 11.50% | -4.18% | -2138.82% | |
52 Neutral | $63.84M | -3.76 | -87.28% | ― | -96.30% | 35.57% | |
52 Neutral | $189.67M | -28.60 | -20.23% | ― | 20.89% | 40.71% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $230.33M | -2.10 | -24.23% | ― | 6.50% | -613.22% | |
50 Neutral | $538.64M | -15.00 | 123.11% | ― | 13.87% | 45.83% | |
46 Neutral | $6.22M | -1.08 | -88.38% | ― | 47.00% | 50.49% |
* Healthcare Sector Average
TLPH
Talphera
1.20
0.77
177.78%
SNOA
Sonoma Pharmaceuticals
1.32
-4.03
-75.33%
PRGO
Perrigo Company
12.82
-8.40
-39.58%
ORGO
Organogenesis Holdings
1.72
-2.86
-62.45%
EOLS
Evolus
7.77
1.08
16.14%
DERM
Journey Medical Corp
6.46
-0.54
-7.71%
Talphera Corporate Events
Executive/Board ChangesShareholder Meetings
Talphera Shareholders Approve Directors and Governance Proposals
Positive
Jun 23, 2026
At its annual meeting held on June 22, 2026, Talphera shareholders elected Marina Bozilenko, Joseph Todisco and Mark Wan as Class III directors to serve until the 2029 annual meeting, while the remaining board members will continue in their curren...
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.