Talphera raises $4.9M in first closing of private placement; additional closings contingent on trial enrollment

TALPHERA, INC.

Gross proceeds of ~$4.9M from first closing: 3,405,118 shares and pre-funded warrants for 4,999,316 shares at $0.586/share.
Second closing of ~$4.9M triggered by enrollment of ≥17 patients in Niyad NEPHRO CRRT study and VWAP ≥$0.7325.
Third closing of ~$4.9M triggered by enrollment of ≥35 patients in same study and VWAP ≥$0.7325.
Pre-funded warrants have $0.001 exercise price, unlimited term, and are exercisable immediately at each closing.
Registration rights agreement filed; executive officers and directors subject to 90-day lock-up after effective date.

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