TLPH

Company Overview — What Does TALPHERA, INC. Do?

Talphera, Inc., a specialty pharmaceutical company, focuses on the development and commercialization of therapies for use in medically supervised settings. Its lead product candidate is Niyad, a lyophilized formulation of nafamostat, which is under an investigational device exemption as an anticoagulant for the extracorporeal circuit. It is also developing LTX-608, an anti-inflammatory and antiviral potential for the treatment of multiple conditions, including COVID-19, disseminated intravascular coagulation (DIC), acute respiratory distress syndrome (ARDS), and acute pancreatitis; Fedsyra, a pre-filled ephedrine syringe; and PFS-02, a pre-filled phenylephrine syringe. The company was formerly known as AcelRx Pharmaceuticals, Inc. and changed its name to Talphera, Inc. in January 2024. Talphera, Inc. was incorporated in 2005 and is headquartered in San Mateo, California. TALPHERA, INC. (TLPH) is classified as a micro-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Vincent J. Angotti and employs approximately 19 people, headquartered in REDWOOD CITY, California. With a market capitalization of $39M, TLPH is one of the notable companies in the Healthcare sector.

TALPHERA, INC. (TLPH) Stock Rating — Avoid (April 2026)

As of April 2026, TALPHERA, INC. receives a Avoid rating with a composite score of 30.3/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.TLPH ranks #4,202 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, TALPHERA, INC. ranks #750 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

TLPH Stock Price and 52-Week Range

TALPHERA, INC. (TLPH) currently trades at $0.79. The stock lost $0.03 (3.2%) in the most recent trading session. The 52-week high for TLPH is $1.57, which means the stock is currently trading -49.9% from its annual peak. The 52-week low is $0.38, putting the stock 107.0% above its annual trough. Recent trading volume was 59K shares, suggesting relatively thin trading activity.

Is TLPH Overvalued or Undervalued? — Valuation Analysis

TALPHERA, INC. (TLPH) carries a value factor score of 16/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 2.33x, versus the sector average of 2.75x. The price-to-sales ratio is 1415.16x, compared to 1.66x for the average Healthcare stock.

At current multiples, TALPHERA, INC. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

TALPHERA, INC. Profitability — ROE, Margins, and Quality Score

TALPHERA, INC. (TLPH) earns a quality factor score of 14/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -81.4%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -46.7% versus the sector average of -33.1%.

On a margin basis, TALPHERA, INC. reports gross margins of 100.0%, compared to 71.5% for the sector. The operating margin is -176500.0% (sector: -66.1%). Net profit margin stands at -226601.9%, versus -58.7% for the average Healthcare stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

TLPH Debt, Balance Sheet, and Financial Health

TALPHERA, INC. has a debt-to-equity ratio of 74.0%, compared to the Healthcare sector average of 32.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 5.49x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $3M.

TLPH has a beta of 0.75, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for TALPHERA, INC. is 37/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

TALPHERA, INC. Revenue and Earnings History — Quarterly Trend

In TTM 2026, TALPHERA, INC. reported revenue of $28,000 and earnings per share (EPS) of $-0.34. Net income for the quarter was $-14M. Gross margin was 100.0%. Operating income came in at $-10M.

In FY 2025, TALPHERA, INC. reported revenue of $28,000 and earnings per share (EPS) of $-0.34. Net income for the quarter was $-14M. Operating income came in at $-13M.

In Q3 2025, TALPHERA, INC. reported revenue of $1,000 and earnings per share (EPS) of $-0.11. Net income for the quarter was $-4M. Operating income came in at $-3M.

In Q2 2025, TALPHERA, INC. reported revenue of $0 and earnings per share (EPS) of $-0.10. Net income for the quarter was $-3M. Operating income came in at $-4M.

Over the past 8 quarters, TALPHERA, INC. has demonstrated a growth trajectory, with revenue expanding from $0 to $28,000. Investors analyzing TLPH stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

TLPH Dividend Yield and Income Analysis

TALPHERA, INC. (TLPH) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

TLPH Momentum and Technical Analysis Profile

TALPHERA, INC. (TLPH) has a momentum factor score of 44/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 64/100 reflects moderate short selling activity.

TLPH vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, TALPHERA, INC. (TLPH) ranks #750 out of 838 stocks based on the Blank Capital composite score. This places TLPH in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing TLPH against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full TLPH vs S&P 500 (SPY) comparison to assess how TALPHERA, INC. stacks up against the broader market across all factor dimensions.

TLPH Next Earnings Date

No upcoming earnings date has been announced for TALPHERA, INC. (TLPH) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy TLPH? — Investment Thesis Summary

The quantitative profile for TALPHERA, INC. suggests caution. The quality score of 14/100 flags below-average profitability. The value score of 16/100 indicates premium valuation. High volatility (stability score 37/100) increases portfolio risk.

In summary, TALPHERA, INC. (TLPH) earns a Avoid rating with a composite score of 30.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on TLPH stock.

Related Resources for TLPH Investors

Explore more research and tools: TLPH vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare TLPH head-to-head with peers: TLPH vs AZN, TLPH vs SLGL, TLPH vs VMD.