Talphera Inc

talphera.com

What Do They Do?

Develops Niyad, a regional anticoagulant for dialysis circuits, and other medicines for use in medically supervised settings.

How Do They Make Money?

FY2025 revenue

Who Are Their Customers?

Hospitals buy ready-to-use syringe presentations of these ingredients mainly from compounding facilities, or dilute products in-house. Talphera's Niyad sales work is pre-launch; a potential launch may use internal resources or a commercial partner.

Do Revenues Turn Into Profits?

No. It lost $14.3M in FY2025.

Operating income, FY2025

−48157% of revenue

▼ −12% (Loss) vs FY2024 (−$15.3M)

Net income, FY2025

−51036% of revenue

▲ +10% (Loss) vs FY2024 (−$13M)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: vs $0 in Q2 FY2025
Net income: ▲ +24% (Loss); vs −$3.5M in Q2 FY2025

Narrower development focus The earlier report described nafamostat and pre-filled syringe candidates as the portfolio. The latest centers development on Niyad and says the syringe candidates may be discontinued.

Second candidate's intended uses The earlier report said the direct-infusion nafamostat candidate would initially target ARDS and DIC. The latest says Talphera is still evaluating its first indication, with DIC or acute pancreatitis among the possibilities.

Comments