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Talphera Inc.(TLPH)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
4-STAR RATING
PASS
LAST CLOSE
$1.17
09/21/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for TLPH

09/21/2026: TLPH (4-star) is currently NOT-A-BUY. Pass it for now.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit 96.8%
Avg. Invested days 39
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 4.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/21/2026

Upturn Scorecard

Upturn Star Rating

TLPH receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by soft unit economics, and weak price momentum.

Company Fundamentals

TLPH has moderate overall fundamentals (3 stars), with moderate financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-9.9%), soft cash generation (FCF margin -40585.7%), slightly negative revenue growth (+0.0%).

Financial Health Rating

TLPH's financial health is supported by moderate efficiency, including operating-expense and cost-of-revenue discipline (opex 48257.1% of revenue). Cash strength is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

Free-cash-flow growth is TLPH's strongest growth driver at +10.4% FY2025 versus FY2024 (solid, 4 stars). By comparison, while revenue growth (+0.0%, slightly negative) and earnings growth (-9.9%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

Institutional ownership is 46.0% and approximately 48.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 21.41% supports management-shareholder alignment.

Top 5 Institutional Investors

AIGH Capital Management, LLC 8.87%
Rock Springs Capital Management LP 6.91%
Nantahala Capital Management, LLC 6.73%
Rosalind Advisors, Inc. 6.46%
Bleichroeder LP 2.52%

Unit Economics (Per $1K Revenue)

TLPH generates approximately $1,000 of gross profit, $-481,571 of operating income, and $-405,857 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

Effective Tax Rate: 0.51%

Quantitative Style Profile

TLPH has a relatively low-volatility profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

Low VolatilitySmall / Mid Cap Risk

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 60.73M USD
Price to earnings Ratio -
1Y Target Price 3.12
Price to earnings Ratio -
1Y Target Price 3.12
Volume (30-day avg) 236.9K shares
Beta 0.69
52 Weeks Range 0.69 - 1.57
Updated Date 09/22/2026
52 Weeks Range 0.69 - 1.57
Updated Date 09/22/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.23
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Valuation

Trailing PE -
Forward PE 1.02
Enterprise Value 43.13M
Price to Sales(TTM) 60729.78
Enterprise Value 43.13M
Price to Sales(TTM) 60729.78
Enterprise Value to Revenue 43134.72
Enterprise Value to EBITDA 0.11
Shares Outstanding 51.91M
Shares Floating 25.23M
Shares Outstanding 51.91M
Shares Floating 25.23M
Percent Insiders 21.41
Percent Institutions 46.03

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Talphera Inc.

Exchange NASDAQ
Headquarters San Mateo, CA, United States
IPO Launch date 2011-02-11
CEO & Director Mr. Vincent J. Angotti
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Full time employees 12
Full time employees 12

Talphera, Inc., a specialty pharmaceutical company, focuses on the development and commercialization of therapies for use in medically supervised settings. The company's lead product candidate, Niyad, is a lyophilized formulation of nafamostat that acts as a regional anticoagulant for infusion into the extracorporeal circuit. It is also developing LTX-608, a lyophilized vial containing nafamostat for IV infusion for disseminated intravascular coagulation, acute respiratory distress syndrome, acute pancreatitis, and an anti-viral treatment; Fedsyra, an ephedrine pre-filled syringe for injection; and a phenylephrine pre-filled syringe for injection. The company was formerly known as AcelRx Pharmaceuticals, Inc. and changed its name to Talphera, Inc. in January 2024. The company was incorporated in 2005 and is headquartered in San Mateo, California.