Talphera is a specialty pharmaceutical company developing therapies for medically supervised settings. They are currently advancing their lead product candidate, Niyad.
For the fourth quarter of 2025, Talphera reported a basic and diluted net loss per share (EPS) of $(0.06). The company recorded no revenue for the fourth quarter and full year 2025, compared to $28,000 in revenue for the year ended December 31, 2024.
Talphera ended 2025 with a cash and investments balance of $20.4 million. Fourth-quarter combined R&D and SG&A expenses were $3.5 million. Furthermore, the company projects 2026 cash operating expenses to range from $17 million to $18 million.