Talphera, Inc. (TLPH) AI Stock Analysis

Talphera, Inc., originally established as AcelRx Pharmaceuticals, Inc. and rebranded in January 2024, is a specialized pharmaceutical company focused on therapies for closely monitored clinical settings. Its lead pipeline candidate is Niyad, a lyophilized formulation of nafamostat evaluated under an investigational device exemption as an anticoagulant for extracorporeal circuits. The company is also developing LTX-608 for conditions including disseminated intravascular coagulation, acute respiratory distress syndrome, and acute pancreatitis. Additional portfolio candidates include Fedsyra, a pre-filled ephedrine syringe, and PFS-02, a pre-filled phenylephrine syringe. Headquartered in San Mateo, California, the company operates with 12 employees.

Talphera generated revenue of $28,000 in FY2025, falling 95.7% from $651,000 in FY2023, following revenue of $1.8M in FY2022 and $5.4M in FY2020. Over the five years from FY2019 to FY2025, revenue posted a compound annual growth rate of -58.6%. The company recorded net income of -$14.3M and an EPS of -$0.38 in FY2025, compared to net income of -$18.4M in FY2023 and $42.5M in FY2022. Operating margin was -48157.1% in FY2025 and -1474700.0% for the trailing twelve months ending June 30, 2026, which saw revenue of $1,000 and an EPS of -$0.26.

As of June 30, 2026, Talphera held cash and short-term investments of $17.1M, total assets of $26.8M, and shareholders' equity of $14.4M. Its liquidity profile showed a current ratio of 4.29. The company reported operating cash flow of -$11.4M and free cash flow of -$11.4M in FY2025, while spending $6.0M on research and development. Over the past five years, its share count expanded by 1083.0%.

Talphera trades at a market cap of $56.1M and an enterprise value of $43.4M. Its forward P/E is 1.0x, compared to 17.3x for the median of its US-listed Healthcare peers. The company has an EV/EBITDA multiple of 0.1x versus the peer median of 12.0x, and a price-to-book ratio of 4.2x. Over the past year, TLPH dropped 6.9% while the S&P 500 (SPY) gained 16.8%. Over five years, the stock fell 94.7% compared to an 83.0% return for the benchmark.

Wall Street coverage on Talphera consists of 3 Strong Buy ratings and 1 Buy rating. The mean price target of $3.12 represents an upside of 189.4% over the last close of $1.08. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $0 and an EPS of -$0.20. For next fiscal year, 3 analysts project revenue of $447,000 and an EPS of -$0.22. Talphera beat EPS estimates in 3 of the last 4 quarters, and its next earnings release is scheduled for November 11, 2026.

This page is an AI-written research summary of Talphera, Inc. (TLPH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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