Talphera reports Q4 net loss $3.8M; NEPHRO CRRT study 50% enrolled, all 12 sites active

TALPHERA, INC.

Cash and investments $20.4M at Dec 31, 2025; net loss $3.8M ($0.06 per share) vs $1.9M ($0.07) in Q4 2024.
NEPHRO CRRT registrational study reached 35 of 70 patients (50% enrollment); all 12 sites now enrolling.
Closed $4.1M tranche of private placement upon achieving 35-patient milestone; total financing proceeds $1.6M in October 2025.
Combined R&D and SG&A expenses $3.5M in Q4 2025 vs $3.0M in Q4 2024; increase driven by Niyad development costs.
2026 cash operating expense guidance $17M-$18M, up from ~$13M in 2025, including finalizing CRRT trial and CMC/validation.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TALPHERA, INC. reported the three and twelve months ended December 31, 2025 results: net income Net loss attributable to common shareholders for the fourth quarter of 2025 was $3.8 million, or $0.06 per basic and dil, EPS $0.06 per basic and diluted share. Guidance initiated.

Period: the three and twelve months ended December 31, 2025
Net income: Net loss attributable to common shareholders for the fourth quarter of 2025 was $3.8 million, or $0.06 per basic and dil
EPS: $0.06 per basic and diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

On March 23, 2026, Talphera, Inc. (the “Company”) issued a press release announcing its financial results for the three and twelve months ended December 31, 2025 and providing a corporate update (the “Release”).

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

TALPHERA, INC. filing history →

Source: SEC EDGAR

accession 0001437749-26-009299

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.