TALPHERA, INC.

TLPH

TALPHERA, INC.

TLPH

Insider Sentiment (TTM):

Last Purchase:2026-03-13Last Sale:2024-12-02Shares Purchased (TTM):433,674Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:21,754,901Shares Outstanding:69,821,593Institutional Ownership Pct.:31.16%

Earnings Market Reaction:

Filing Date:2026-08-12Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	1	4	6	3	7	5	9	11	13	12	6	13
Short Term Investments	16	17	14	18	-	-	0	0	1	6	4	0
Prepaid Expense And Other Assets Current	1	0	1	1	1	1	1	1	2	1	2	1
Restricted Cash Current	-	-	-	-	-	-	-	-	-	-	0	0
Assets Current	18	21	21	22	8	6	9	12	16	20	12	14
Intangible Assets Net Excluding Goodwill	9	9	9	9	9	9	9	9	9	9	9	9
Assets	27	30	30	31	17	15	18	21	25	29	20	23
Assets Of Disposal Group Including Discontinued Op…	-	-	-	-	-	-	-	-	-	-	0	0
Liabilities Current
Accounts Payable Current	0	1	1	1	1	0	1	0	1	1	1	1
Accrued Liabilities Current	3	2	3	2	1	1	1	2	2	1	2	2
Other Assets Noncurrent	-	-	-	-	-	-	-	-	-	-	0	0
Disposal Group Including Discontinued Operation As…	-	-	-	-	-	-	-	-	-	-	0	0
Liabilities Of Disposal Group Including Discontinu…	1	1	1	1	1	1	1	1	1	1	1	1
Liabilities Current	4	4	4	3	3	2	3	3	3	3	5	4
Warrants And Rights Outstanding	2	1	2	2	1	1	1	2	2	3	2	1
Liabilities	12	12	13	12	10	9	10	11	12	12	6	5
Long Term Debt Current	-	-	-	-	-	-	-	-	-	-	0	0
Stockholders Equity
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	493	493	489	487	470	465	465	465	465	464	458	458
Other Liabilities Noncurrent	-	-	-	-	-	-	-	-	-	-	0	0
Retained Earnings Accumulated Deficit	-478	-474	-472	-468	-463	-460	-457	-455	-452	-448	-444	-440
Liabilities Of Disposal Group Including Discontinu…	-	-	-	-	-	-	-	-	-	-	0	0
Stockholders Equity	14	18	17	19	7	6	8	10	13	16	14	18
Liabilities And Stockholders Equity	27	30	30	31	17	15	18	21	25	29	20	23
Common Stock Par Or Stated Value Per Share	0.001	0.001	0	0.001	0.001	0.001	0	0.001	0.001	0.001	0	0.001
Common Stock Shares Authorized	200	200	200	200	200	200	200	200	200	200	200	200
Common Stock Shares Issued	52	50	49	46	21	17	17	17	17	17	17	17
Shares Outstanding	52	50	49	46	21	17	17	17	17	17	17	17

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10‑Q10‑K

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Interactive Financial Visualizations

10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-13.33%	18.89%	51.11%	-	-	-	-	-	-	-	-	-
2025	0.00%	-11.76%	-21.57%	27.91%	120.93%	211.63%	-4.65%	-10.08%	-25.58%	0.00%	6.25%	8.75%
2024	-4.90%	-7.84%	-11.76%	15.12%	-9.30%	6.98%	-22.47%	-30.34%	-28.09%	-2.00%	2.00%	-8.00%
2023	-	-	-	-	-	-	58.70%	69.57%	104.35%	-18.90%	-17.32%	-18.90%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	4.29	5.30	5.49	6.83	2.93	3.11	3.56	4.42	4.90	5.97	2.57	4.04
Quick Ratio	4.08	5.24	5.35	6.63	2.58	2.71	3.35	4.02	4.28	5.56	2.08	3.75
Working Capital	13.80M	17.31M	17.09M	18.71M	5.07M	4.19M	6.77M	9.43M	12.76M	16.61M	7.06M	10.85M
Leverage & Debt
Debt to Equity	0.86	0.63	0.74	0.60	1.49	1.68	1.28	1.18	0.95	0.76	0.45	0.27
Interest Coverage TTM	-	-	-	-	-	-	-	-138.98	-135.29	-117.90	-66.75	-57.43
Debt Ratio	0.46	0.39	0.43	0.38	0.60	0.63	0.56	0.54	0.49	0.43	0.31	0.21
Efficiency & Turnover
Asset Turnover TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.02	0.02	0.02	-0.00
Per Share Metrics
Diluted EPS TTM	-	-	-	-	-	-	-	-	-	-	-1.29	-1.14
Free Cash Flow Per Share TTM	-0.16	-0.16	-0.27	-0.27	-0.34	-0.51	-0.49	-0.55	-0.55	-0.61	-1.23	-1.14
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Operating Profit Margin TTM	-1,474,700.00%	-1,451,600.00%	-48,157.14%	-46,525.00%	-49,459.26%	-51,596.30%	-	-5,885.77%	-4,044.97%	-2,426.73%	-2,594.32%	25,683.33%
Net Profit Margin TTM	-1,507,600.00%	-1,425,300.00%	-51,035.71%	-44,242.86%	-41,870.37%	-43,122.22%	-	-5,569.75%	-3,430.90%	-2,181.11%	-2,825.96%	26,518.06%
Growth Metrics
Net Revenue Growth (1Y)	-96.30%	-96.30%	-	-90.04%	-93.22%	-95.85%	-100.00%	-490.28%	-310.58%	-247.29%	-	-116.22%
Net Income Growth (1Y)	33.36%	22.42%	9.89%	-20.85%	-17.21%	-18.00%	-29.31%	-18.03%	-44.65%	-133.14%	-143.46%	-148.18%
EPS Growth (1Y)	-39.03%	-53.94%	-33.03%	-49.95%	-37.18%	-22.83%	-60.99%	-47.59%	-76.92%	-114.60%	-122.50%	-121.21%
Valuation Metrics
P/E TTM	-5.16	-3.67	-3.38	-2.98	-1.41	-1.13	-1.03	-1.44	-1.71	-1.79	-0.57	-0.51
P/B TTM	5.40	2.83	2.84	1.92	2.40	2.35	1.68	2.34	1.83	1.56	0.75	0.53
P/S TTM	77,792.70	52,366.19	1,726.72	1,317.63	588.30	486.45	-	80.22	58.59	39.11	16.21	-135.00
Market Cap	77.79M	52.37M	48.35M	36.89M	15.88M	13.13M	13.44M	22.54M	23.32M	25.46M	10.56M	9.72M
Enterprise Value	77.05M	48.54M	42.45M	33.44M	9.09M	7.75M	4.58M	11.43M	9.90M	13.34M	4.83M	-3.67M
Calculated Values
Free Cash Flow TTM	-12.27M	-11.29M	-11.36M	-11.18M	-11.61M	-13.27M	-12.68M	-14.38M	-14.40M	-15.13M	-17.59M	-19.10M
Net Debt	-742.00K	-3.82M	-5.89M	-3.46M	-6.79M	-5.39M	-8.86M	-11.12M	-13.42M	-12.12M	-5.72M	-13.39M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-03-13Purchase

Owner: Angotti, Vincent J.

Title: CHIEF EXECUTIVE OFFICER

Shares: 213,310

Price/Share: $0.59

Value: $125,852.90

Shares Owned: 800,705

Relationship: Director,Officer

Ownership: Direct

2026-02-12Purchase

Owner: Asadorian, Raffi

Title: Chief Financial Officer

Shares: 45,000

Price/Share: $0.81

Value: $36,450.00

Shares Owned: 91,256

Relationship: Officer

Ownership: Direct

2026-02-12Purchase

Owner: Angotti, Vincent J.

Title: CHIEF EXECUTIVE OFFICER

Shares: 105,364

Price/Share: $0.81

Value: $85,344.84

Shares Owned: 586,954

Relationship: Director,Officer

Ownership: Direct

2026-02-12Purchase

Owner: Aslam, Shakil

Title: Chief Medical Officer

Shares: 35,000

Price/Share: $0.81

Value: $28,350.00

Shares Owned: 83,178

Relationship: Officer

Ownership: Direct

2026-02-12Purchase

Owner: Dasu, Badri N

Title: Chief Engineering Officer

Shares: 35,000

Price/Share: $0.81

Value: $28,350.00

Shares Owned: 76,230

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-03-13	Angotti, Vincent J.	Director,Officer	CHIEF EXECUTIVE OFFICER	Direct	Purchase	213,310	0.59	$125,852.90	800,705	4
2026-02-12	Asadorian, Raffi	Officer	Chief Financial Officer	Direct	Purchase	45,000	0.81	$36,450.00	91,256	4
2026-02-12	Angotti, Vincent J.	Director,Officer	CHIEF EXECUTIVE OFFICER	Direct	Purchase	105,364	0.81	$85,344.84	586,954	4
2026-02-12	Aslam, Shakil	Officer	Chief Medical Officer	Direct	Purchase	35,000	0.81	$28,350.00	83,178	4
2026-02-12	Dasu, Badri N	Officer	Chief Engineering Officer	Direct	Purchase	35,000	0.81	$28,350.00	76,230	4
2025-04-02	Angotti, Vincent J.	Director,Officer	CHIEF EXECUTIVE OFFICER	Direct	Purchase	213,310	0.59	$125,852.90	403,769	4
2024-12-05	Angotti, Vincent J.	Director,Officer	CHIEF EXECUTIVE OFFICER	Direct	Purchase	5,000	0.64	$3,200.00	208,066	4
2024-12-02	Asadorian, Raffi	Officer	Chief Financial Officer	Direct	Sale	155	0.77	$119.35	37,578	4
2024-11-27	Angotti, Vincent J.	Director,Officer	CHIEF EXECUTIVE OFFICER	Direct	Purchase	5,000	0.73	$3,650.00	203,066	4
2024-08-30	Angotti, Vincent J.	Director,Officer	CHIEF EXECUTIVE OFFICER	Direct	Purchase	7,260	1.05	$7,623.00	198,066	4
2024-06-14	Aslam, Shakil	Officer	Chief Medical Officer	Direct	Purchase	5,000	1.07	$5,350.00	37,695	4
2024-06-14	Angotti, Vincent J.	Director,Officer	CHIEF EXECUTIVE OFFICER	Direct	Purchase	1,304	1.08	$1,408.32	180,806	4
2023-12-13	Angotti, Vincent J.	Director,Officer	Chief Executive Officer	Direct	Purchase	10,000	0.73	$7,300.00	101,805	4
2023-09-11	Angotti, Vincent J.	Director,Officer	Chief Executive Officer	Direct	Purchase	10,000	0.80	$8,000.00	91,805	4
2023-08-25	Palmer, Pamela P	Director,Officer	Chief Medical Officer	Direct	Sale	7,442	1.09	$8,111.78	30,753	4
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Institutional Ownership

No data available for chart

2026-03-31

31.16%

Inst. Shares: 21,754,901

Shares Outstanding: 69,821,593

2025-12-31

49.16%

Inst. Shares: 20,848,690

Shares Outstanding: 42,410,711

2025-09-30

42.81%

Inst. Shares: 17,745,690

Shares Outstanding: 41,453,382

2025-06-30

15.30%

Inst. Shares: 5,282,647

Shares Outstanding: 34,530,377

2025-03-31

21.03%

Inst. Shares: 5,523,842

Shares Outstanding: 26,268,209

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	21,754,901	69,821,593	31.16%
2025-12-31	20,848,690	42,410,711	49.16%
2025-09-30	17,745,690	41,453,382	42.81%
2025-06-30	5,282,647	34,530,377	15.30%
2025-03-31	5,523,842	26,268,209	21.03%
2024-12-31	4,052,649	25,845,639	15.68%
2024-09-30	4,175,439	26,212,902	15.93%
2024-06-30	4,347,965	26,201,650	16.59%
2024-03-31	4,388,202	24,721,964	17.75%
2023-12-31	3,943,242	14,263,744	27.65%
2023-09-30	3,223,777	16,758,322	19.24%
2023-06-30	1,049,583	10,924,294	9.61%
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TALPHERA, INC. (TLPH) — SEC Financial Statements & Analysis

TALPHERA, INC. (TLPH) is a pharmaceutical preparations company, incorporated in DE. TALPHERA, INC. trades on Nasdaq as: TLPH. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), TALPHERA, INC. reported a -96.30% year-over-year revenue growth, a Debt-to-Equity ratio of 0.86x, a Price-to-Sales (P/S) ratio of 77792.70x (TTM), a Price-to-Book (P/B) ratio of 5.40x (TTM), at a market cap of $77.79M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: -96.30%
Debt To Equity: 0.86x
P/S TTM: 77792.70x
P/B TTM: 5.40x
Market Cap: $77.79M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is TALPHERA, INC. in?

TALPHERA, INC. (TLPH) operates in the Pharmaceutical Preparations industry.

What is TLPH's market cap?

TALPHERA, INC. (TLPH) has a market capitalization of $77.79M as of 2026-06-30.

What exchange does TLPH trade on?

TALPHERA, INC. (TLPH) trades on the Nasdaq.

Where is TALPHERA, INC. incorporated?

TALPHERA, INC. is incorporated in DE.

TALPHERA, INC.

Financial Statements

Custom Table

Interactive Financial Visualizations

Earnings Market Reaction

Performance and Valuation Metrics

Insider Transactions

Institutional Ownership

TALPHERA, INC. (TLPH) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Pharmaceutical Preparations

Wall Street's data.
Main Street's price.

TALPHERA, INC. (TLPH) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Pharmaceutical Preparations

Wall Street's data.Main Street's price.

Wall Street's data.
Main Street's price.