TALPHERA, INC.
TLPHNasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $28,000 | $0 | $651,000 | $0 | $2.8M | $5.4M |
| Operating income | −$13.5M | −$15.3M | −$16.9M | −$25.3M | −$36.0M | −$41.0M |
| Net income | −$14.3M | −$13.0M | −$18.4M | $47.8M | −$35.1M | −$40.4M |
| Total assets | $29.7M | $18.2M | $20.4M | $47.5M | $77.9M | $66.3M |
| Total liabilities | $12.7M | $10.2M | $6.3M | $25.7M | $113.8M | $122.0M |
| Equity | $17.0M | $8.0M | $14.1M | $21.8M | −$35.9M | −$55.8M |
| EPS (diluted) | $-0.34 | $-0.50 | $-1.29 | $5.72 | $-5.86 | — |
| Shares out. | 17.1M | 17.0M | 10.9M | 146.9M | 118.9M | 80.4M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −48157.1%
- Net margin
- −51035.7%
- Return on equity
- −83.9%
- Return on assets
- −48.1%
- Return on capital (ROCE)
- −52.0%
- Liabilities / assets
- 42.7%
- Debt / equity
- 0.74×
- Book value / share
- $1.00
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -49.59distress
- Accruals / assets
- −9.8%clean
- Piotroski F-Score
- 5/8mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 severe● 3 warning● 2 good- Altman Z″ in the distress zone
- Operating losses (negative operating margin)
- Reported a net loss
- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Aslam ShakilOfficer — Chief Medical Officer | May 20, 2026 | Tax withholding | 4,518 | $0.82 |
| Angotti Vincent J.Officer — CHIEF EXECUTIVE OFFICER | Apr 2, 2026 | Tax withholding | 9,938 | $0.72 |
| Asadorian RaffiOfficer — Chief Financial Officer | Apr 2, 2026 | Tax withholding | 2,444 | $0.72 |
| Aslam ShakilOfficer — Chief Medical Officer | Apr 2, 2026 | Tax withholding | 2,118 | $0.72 |
| Dasu Badri NOfficer — Chief Engineering Officer | Apr 2, 2026 | Tax withholding | 2,444 | $0.72 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 936,329 | 6.8 | -9.9% |
| Apr 30, 2026 | 1.0M | 7.3 | -15.3% |
| Apr 15, 2026 | 1.2M | 8.7 | -3.4% |
| Mar 31, 2026 | 1.3M | 5.5 | +14.8% |
| Mar 13, 2026 | 1.1M | 6.3 | -4.2% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsMay 13, 2026
- Results of operationsMar 23, 2026
- Unregistered equity saleMar 16, 2026
- Delisting / listing-standard noticeMar 13, 2026
- Results of operationsNov 12, 2025
- Director / officer change · Shareholder voteOct 24, 2025
- Unregistered equity sale · Other material eventOct 22, 2025
- Director / officer changeOct 16, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 4May 21, 2026
- SCHEDULE 13G/AMay 15, 2026
- 10-QFORM 10-QMay 13, 2026
- 8-KFORM 8-KMay 13, 2026
- SCHEDULE 13G/AMay 12, 2026
- DEFA14AFORM DEFA14AApr 29, 2026
- DEF 14AFORM DEF 14AApr 29, 2026
- 4Apr 3, 2026
- 4Apr 3, 2026
- 4Apr 3, 2026
- 4Apr 3, 2026
- EFFECTApr 1, 2026
- 424B7FORM 424B7Apr 1, 2026
- CORRESPMar 30, 2026
- UPLOADMar 30, 2026
Event-driven situations (2)
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