Talphera Reports Third Quarter 2025 Financial Results and Corporate Developments

Talphera, Inc. (Nasdaq: TLPH), a company specializing in pharmaceuticals aimed at innovative therapies for medically supervised settings, has recently revealed its financial performance for the third quarter of 2025 along with some significant corporate updates. As of September 30, 2025, cash and investments held by the company totaled $21.3 million. This figure is bolstered by the successful closing of a $17 million initial tranche of financing, primarily driven by a strategic investment from CorMedix, Inc.

Financial Snapshot

In the financial overview provided, Talphera's combined research and development (R&D) and selling, general and administrative (SGA) expenses for the third quarter stood at $3.4 million, which shows a decrease from $3.7 million during the same quarter in 2024. Notably, the total operating costs for the third quarter amounted to $3.4 million, leading to a net loss from continuing operations of $4.4 million. In comparison, net losses for Q3 2024 reached $3.4 million, demonstrating the financial hurdles the company continues to face despite potential growth opportunities.

Looking forward, Talphera expects cash operating expenses, which include SGA and R&D expenses, to be maintained in the range of $14 million to $15 million for the full year 2025. This estimate represents a decrease from prior projections of $16 million to $17 million.

Clinical Progress and Future Plans

As part of its ongoing developmental efforts, Talphera is excited about the progress of its NEPHRO clinical study. Currently, five of the nine targeted clinical sites have been activated and actively enrolling patients. The company anticipates the completion of this NEPHRO study by the first half of 2026. This prospect offers hope for a potential approval of Niyad, Talphera's leading product, which is undergoing a study as an anticoagulant in various clinical settings.

Corporate Insights

CEO Vince Angotti expressed optimism about the strategic collaboration with CorMedix, emphasizing how their investment enhances the attractiveness of the Niyad market opportunity. This partnership has also granted CorMedix the right to nominate a member to Talphera's board and the first negotiation opportunity for a potential acquisition following the announcement of Phase 3 study results.

In other corporate moves, Talphera appointed Joseph Todisco, CEO of CorMedix, to its board of directors in October 2025, aiming to strengthen ties between both companies. The NEPHRO study focuses on the efficacy of Niyad as an alternative to existing CRRT anticoagulants, a much-needed option for clinicians seeking alternatives for patients challenged by anticoagulation therapies.

Conclusion

In summary, the third quarter of 2025 has brought significant achievements and financial milestones for Talphera. The ongoing collaborations, financial backing, and promising clinical trial advancements place the company in a stronger position as it moves towards the conclusion of its studies and potential new market offerings. Stakeholders can keep an eye on Talphera's continued developments as they work towards transforming medical practices in anticoagulation therapy.