---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-016840"
form_type: "8-K"
ticker: "TLPH"
cik: "0001427925"
company_name: "TALPHERA, INC."
filed_at: "2025-05-14T23:59:59+00:00"
generated_at: "2026-05-21T08:17:53.648124+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Talphera Q1 2025 net loss narrows to $0.10/share; NEPHRO study reduced to 70 patients

## Summary
- Net loss from continuing ops $2.7M vs $4.0M YoY; diluted EPS loss $0.10 vs $0.16.
- Cash $5.4M at March 31; adjusted to $9.8M after $4.4M net proceeds from April financing tranche.
- FDA agreed to reduce NEPHRO CRRT study from 166 to 70 patients; primary endpoint powered at 90%.
- Three new clinical sites activated in 2025; five more expected by mid-year for total of 13.
- 2025 cash operating expense guidance $17-19M, including completing registration trial by year-end.

## SEC filing metadata
- accession: 0001437749-25-016840
- form_type: 8-K
- ticker: TLPH
- cik: 0001427925
- company_name: TALPHERA, INC.
- filed_at: 2025-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1427925/000143774925016840/0001437749-25-016840-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1427925/000143774925016840/acrx20250513_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-016840
- JSON: https://secwatch.observer/filing/0001437749-25-016840.json
- Plain text: https://secwatch.observer/filing/0001437749-25-016840.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.