TLPH
Talphera, Inc.
NasdaqCMUSDEQUITY
Healthcare
DELAYED
Neutral
+7/100
Last price
1.11
▼ 0.05 (4.31%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
Lower pane
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
1.16
Prev close
1.16
Day high
1.18
Day low
1.10
Volume
115.76K
Market cap
$57.62M
P/E (TTM)
—
52W range
0.69 – 1.57
Day trading desk
Gap from prior close
0.00%
Prior close 1.16
VWAP
1.11
-0.18% from price
Relative volume
0.89×
Normal
Session range
7.27%
1.10 – 1.18
Position in range
12%
Near session low
ATR (14D)
0.04
3.60% of price
Prior day high
1.19
PDH
Prior day low
1.13
PDL
Bid / ask spread
—
Quote not published
Session volume
232.74K
Avg 260.93K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
-5.13%
-7.1%
1M
-7.50%
-8.7%
3M
-11.20%
-15.7%
6M
+40.51%
+22.3%
YTD
-2.63%
-16.9%
1Y
+16.84%
+0.4%
3Y
+91.38%
+9.1%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on TLPH open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
11.11M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Jun 22, 26 | TODISCO JOSEPH Director |
STOCK | 5.10K | $0 | Direct |
| Jun 22, 26 | BOZILENKO MARINA Director |
STOCK | 5.10K | $0 | Direct |
| Jun 22, 26 | JAIN ABHINAV Director |
STOCK | 5.10K | $0 | Direct |
| Jun 22, 26 | WAN MARK ALLEN Director |
STOCK | 5.10K | $0 | Direct |
| Jun 22, 26 | HOFFMAN STEPHEN J. M.D., PH.D. Director |
STOCK | 5.10K | $0 | Direct |
| Jun 22, 26 | ADAMS ADRIAN Director |
STOCK | 5.10K | $0 | Direct |
| Jun 22, 26 | BROADFOOT JILL MARIE Director |
STOCK | 5.10K | $0 | Direct |
| Mar 13, 26 | ANGOTTI VINCENT J Chief Executive Officer |
BUY | 213.31K | $169.97K | Direct |
| Feb 12, 26 | ANGOTTI VINCENT J Chief Executive Officer |
BUY | 105.36K | $85.59K | Direct |
| Feb 12, 26 | DASU BADRI N Officer |
BUY | 35.00K | $28.43K | Direct |
| Feb 12, 26 | ASADORIAN RAFFI Chief Financial Officer |
BUY | 45.00K | $36.55K | Direct |
| Feb 12, 26 | ASLAM SHAKIL Officer |
BUY | 35.00K | $28.43K | Direct |
| Oct 23, 25 | BOZILENKO MARINA Director |
STOCK | 4.27K | $0 | Direct |
| Oct 23, 25 | JAIN ABHINAV Director |
STOCK | 4.27K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ADAMS ADRIAN |
Director | 22.71K | Stock Award(Grant) |
ANGOTTI VINCENT J |
Chief Executive Officer | 800.71K | Purchase |
ASADORIAN RAFFI |
Chief Financial Officer | 179.58K | Purchase |
ASLAM SHAKIL |
Officer | 83.18K | Purchase |
BOZILENKO MARINA |
Director | 14.15K | Stock Award(Grant) |
BROADFOOT JILL MARIE |
Director | 13.65K | Stock Award(Grant) |
DASU BADRI N |
Officer | 73.88K | Purchase |
HOFFMAN STEPHEN J. M.D., PH.D. |
Director | 13.96K | Stock Award(Grant) |
JAIN ABHINAV |
Director | 12.41K | Stock Award(Grant) |
WAN MARK ALLEN |
Director | 13.96K | Stock Award(Grant) |
Fundamentals
Market cap$57.62M
Enterprise value$47.04M
Revenue (TTM)$1.00K
Gross profit$-6.70M
EBITDA—
Net income$-15.08M
EPS (TTM)$-0.26
Free cash flow$-6.87M
Total cash$17.08M
Total debt$6.50M
Book value / share$0.28
Shares outstanding51.91M
Float25.23M
Short % of float1.67%
Dividend yield0.00%
Beta (5Y)0.68
Valuation & profitability ratios
Trailing P/E—
Forward P/E-4.97
PEG ratio—
Price / sales—
Price / book3.99
EV / revenue47,038.43
EV / EBITDA—
Gross margin0.00%
Operating margin-1474700.00%
Profit margin0.00%
Return on equity-143.36%
Return on assets-42.55%
Debt / equity45.11
Current ratio4.30
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $28.00K | $0 | $651.00K | $0 | — | — |
| Operating revenue | $28.00K | $0 | $651.00K | $0 | — | — |
| Cost of revenue | — | — | — | $2.59M | $3.75M | — |
| Gross profit | — | — | — | -$820.00K | -$935.00K | — |
| Research & development | $6.03M | $6.72M | $5.55M | $3.34M | — | -10.2% |
| Selling, general & admin | $7.48M | $8.53M | $11.99M | $17.01M | — | -12.4% |
| Total operating expense | $13.51M | $15.25M | $17.54M | $20.35M | — | -11.4% |
| Operating income | -$13.48M | -$15.25M | -$16.89M | -$20.35M | — | +11.6% |
| Net interest income | $436.00K | $285.00K | $1.28M | $386.00K | — | +53.0% |
| Pre-tax income | -$14.36M | -$13.00M | -$10.29M | $59.14M | — | -10.5% |
| Tax provision | — | — | $0 | $13.00K | $5.00K | — |
| Net income | -$14.29M | -$13.00M | -$18.40M | $47.76M | — | -9.9% |
| Net income to common | -$14.29M | -$13.00M | -$18.40M | $42.33M | — | -9.9% |
| Basic EPS | -0.34 | -0.50 | -1.29 | 5.73 | — | +32.0% |
| Diluted EPS | -0.34 | -0.50 | -1.29 | 5.72 | — | +32.0% |
| EBIT | -$14.36M | -$12.61M | -$10.15M | $60.25M | — | -13.9% |
| EBITDA | -$14.36M | -$12.61M | -$9.84M | $61.90M | — | -13.9% |
| Basic shares | 42.41M | 25.85M | 14.26M | 7.39M | — | +64.1% |
| Diluted shares | 42.41M | 25.85M | 14.26M | 7.41M | — | +64.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $5.89M | $8.86M | $5.72M | $15.28M | — | -33.5% |
| Cash & short-term investments | $20.38M | $8.86M | $9.38M | $15.77M | — | +130.0% |
| Accounts receivable | — | — | — | $309.00K | $160.00K | — |
| Inventory | — | — | — | $1.18M | $1.11M | — |
| Total current assets | $20.90M | $9.42M | $11.58M | $24.57M | — | +121.9% |
| Property, plant & equipment | — | — | — | $13.86M | $20.23M | — |
| Goodwill & intangibles | $8.82M | $8.82M | $8.82M | $8.82M | — | 0.0% |
| Total assets | $29.72M | $18.24M | $20.39M | $47.49M | — | +63.0% |
| Total current liabilities | $3.81M | $2.65M | $4.51M | $13.77M | — | +43.9% |
| Current debt | — | — | — | $5.36M | $8.80M | — |
| Long-term debt | — | — | — | — | $5.01M | — |
| Total debt | — | — | — | $5.36M | $18.62M | — |
| Total liabilities | $12.68M | $10.23M | $6.29M | $25.67M | — | +23.9% |
| Retained earnings | -$471.52M | -$457.23M | -$444.23M | -$425.83M | — | -3.1% |
| Shareholder equity | $17.04M | $8.00M | $14.11M | $21.81M | — | +112.9% |
| Working capital | $17.09M | $6.77M | $7.06M | $10.80M | — | +152.5% |
| Net tangible assets | $8.22M | -$818.00K | $5.29M | $12.99M | — | +1,104.4% |
| Shares issued | 49.33M | 17.03M | 16.95M | 8.24M | — | +189.7% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$14.29M | -$13.00M | -$18.40M | $47.76M | — | -9.9% |
| Depreciation & amortisation | — | $0 | $311.00K | $1.65M | $1.97M | — |
| Stock-based compensation | $699.00K | $989.00K | $1.73M | $2.89M | — | -29.3% |
| Change in working capital | $1.08M | -$224.00K | -$1.54M | -$1.39M | — | +583.0% |
| Operating cash flow | -$11.36M | -$12.68M | -$17.49M | -$28.33M | — | +10.4% |
| Capital expenditure | — | — | -$100.00K | -$364.00K | -$1.83M | — |
| Investing cash flow | -$14.35M | $3.78M | -$528.00K | $36.45M | — | -479.4% |
| Share buybacks | — | — | $0 | -$315.00K | $0 | — |
| Financing cash flow | $22.74M | $12.04M | $3.47M | -$507.00K | — | +88.8% |
| Free cash flow | -$11.36M | -$12.68M | -$17.59M | -$28.70M | — | +10.4% |
| End cash position | $5.89M | $8.86M | $5.72M | $20.27M | — | -33.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $1.00K | $0 | — |
| Operating revenue | $0 | $0 | $0 | $1.00K | $0 | — |
| Research & development | $1.69M | $1.65M | $1.56M | $1.80M | $1.50M | +2.4% |
| Selling, general & admin | $2.23M | $2.30M | $1.89M | $1.62M | $2.19M | -2.8% |
| Total operating expense | $3.92M | $3.95M | $3.45M | $3.42M | $3.69M | -0.6% |
| Operating income | -$3.92M | -$3.95M | -$3.45M | -$3.42M | -$3.69M | +0.6% |
| Net interest income | $172.00K | $169.00K | $203.00K | $81.00K | $83.00K | +1.8% |
| Pre-tax income | -$4.31M | -$2.56M | -$3.77M | -$4.44M | -$3.49M | -68.7% |
| Net income | -$4.31M | -$2.56M | -$3.77M | -$4.44M | -$3.49M | -68.7% |
| Net income to common | -$4.31M | -$2.56M | -$3.77M | -$4.44M | -$3.49M | -68.7% |
| Basic EPS | -0.06 | -0.04 | -0.06 | -0.11 | -0.10 | -50.0% |
| Diluted EPS | -0.06 | -0.04 | -0.06 | -0.11 | -0.10 | -50.0% |
| EBIT | -$3.92M | -$3.95M | -$3.77M | -$4.44M | -$3.69M | +0.6% |
| EBITDA | -$3.92M | -$3.95M | -$3.77M | -$4.44M | -$3.69M | +0.6% |
| Basic shares | 75.53M | 69.82M | 66.95M | 41.45M | 34.53M | +8.2% |
| Diluted shares | 75.53M | 69.82M | 66.95M | 41.45M | 34.53M | +8.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $742.00K | $3.82M | $5.89M | $3.46M | $6.79M | -80.6% |
| Cash & short-term investments | $17.08M | $21.11M | $20.38M | $21.29M | $6.79M | -19.1% |
| Total current assets | $17.99M | $21.34M | $20.90M | $21.92M | $7.70M | -15.7% |
| Goodwill & intangibles | $8.82M | $8.82M | $8.82M | $8.82M | $8.82M | 0.0% |
| Total assets | $26.81M | $30.16M | $29.72M | $30.74M | $16.52M | -11.1% |
| Total current liabilities | $4.19M | $4.03M | $3.81M | $3.21M | $2.63M | +4.0% |
| Total liabilities | $12.40M | $11.68M | $12.68M | $11.56M | $9.89M | +6.2% |
| Retained earnings | -$478.39M | -$474.08M | -$471.52M | -$467.75M | -$463.31M | -0.9% |
| Shareholder equity | $14.41M | $18.48M | $17.04M | $19.18M | $6.63M | -22.0% |
| Working capital | $13.80M | $17.31M | $17.09M | $18.71M | $5.07M | -20.3% |
| Net tangible assets | $5.59M | $9.66M | $8.22M | $10.36M | -$2.19M | -42.2% |
| Shares issued | 51.91M | 50.05M | 49.33M | 45.59M | 20.52M | +3.7% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$4.31M | -$2.56M | -$3.77M | -$4.44M | -$3.49M | -68.7% |
| Stock-based compensation | $243.00K | $214.00K | $185.00K | $152.00K | $166.00K | +13.6% |
| Change in working capital | -$262.00K | $249.00K | $754.00K | $697.00K | $523.00K | -205.2% |
| Operating cash flow | -$3.92M | -$3.40M | -$2.44M | -$2.51M | -$2.95M | -15.4% |
| Investing cash flow | $1.10M | -$2.71M | $3.47M | -$17.82M | $0 | +140.7% |
| Financing cash flow | -$261.00K | $4.04M | $1.40M | $16.99M | $4.35M | -106.5% |
| Free cash flow | -$3.92M | -$3.40M | -$2.44M | -$2.51M | -$2.95M | -15.4% |
| End cash position | $742.00K | $3.82M | $5.89M | $3.46M | $6.79M | -80.6% |
Options analytics
Put / call volume
2.19
Put-heavy session
Put / call open interest
0.01
Positioning, not flow
Max pain
2.00
+80.2% from spot
ATM implied vol
0.0%
Nearest strike to spot
Skew (10% OTM)
+12.5%
Puts bid over calls
Call volume
31
Contracts, this expiry
Put volume
68
Contracts, this expiry
Heaviest call OI
2.50
1.35K contracts
Heaviest put OI
0.50
20 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.07 | -0.05 | +23.5% |
| Mar 2026 | -0.08 | -0.05 | +36.1% |
| Dec 2025 | -0.08 | -0.06 | +20.0% |
| Sep 2025 | -0.13 | -0.13 | -6.7% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.06 | 2 | $0 | -100.0% |
| Next quarter | -0.06 | 2 | $0 | 0.0% |
| Current year | -0.21 | 2 | $0 | -100.0% |
| Next year | -0.22 | 3 | $447.00K | 0.0% |
Analyst targets & ownership
Mean target$3.13
High target$3.50
Low target$3.00
Implied upside181.53%
Analyst count4
ConsensusNONE
Strong buy / Buy1 / 3
Hold0
Sell / Strong sell0 / 0
Held by insiders21.41%
Held by institutions46.03%
Institutions holding52
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
1.15
-3.90% from price
SMA 20
1.18
-5.69% from price
SMA 50
1.23
-9.99% from price
SMA 100
1.13
-2.10% from price
SMA 200
1.02
+9.33% from price
EMA 12
1.15
-3.88% from price
EMA 26
1.18
-5.84% from price
EMA 50
1.19
-6.47% from price
RSI (14)
36.9
Neutral
MACD (12,26,9)
-0.02
Hist -0.00
ATR (14)
0.04
3.60% of price
Realised vol 30D
30.1%
Annualised
Bollinger upper
1.25
20, 2σ
Bollinger lower
1.11
20, 2σ
50 / 200 cross
Golden
1.23 vs 1.02
Trend bias
Above 200
+9.33%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.06
More volatile than market
Correlation to SPY
0.18
Largely independent
Realised vol 30D
30.1%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-50.7%
Peak to trough
Max drawdown 5Y
-98.1%
Peak to trough
ATR 14
0.04
3.60% of price
Beta (reported)
0.68
5Y monthly, from filing
Short interest
Shares short
700.72K
Prior 515.15K
Change vs prior
+36.0%
Shorts adding
% of float
1.67%
Normal
% of shares out
1.35%
Against total outstanding
Days to cover
4.0
Liquid
Float
25.23M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Apr 30, 26 | WestPark Capital | INITIATED | — | Buy |
| Apr 1, 25 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Jan 21, 25 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Aug 16, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| May 15, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| May 6, 24 | Maxim Group | INITIATED | — | Buy |
| Mar 7, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Jan 22, 24 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Dec 7, 23 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Oct 2, 23 | Alliance Global Partners | INITIATED | — | Buy |
| Sep 25, 23 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| Aug 18, 23 | HC Wainwright & Co. | UPGRADE | Neutral | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split1:20
Split dateOct 26, 2022
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-08-12
Corporate Changes & Voting Matters
8-K · 2026-06-23
Corporate Changes & Voting Matters
8-K · 2026-05-13
Proxy Statements
DEF 14A · 2026-04-29
A correspondence can be sent as a document with another submission type or can be sent as a separate submission
CORRESP · 2026-03-30
Offering Registrations
S-3 · 2026-03-25
Periodic Financial Reports
10-K · 2026-03-23
Corporate Changes & Voting Matters
8-K · 2026-03-16
Headlines
Talphera (TLPH) Upgraded to Buy: Here's What You Should Know
Zacks · 16d ago
Talphera to Participate in the H.C. Wainwright 28th Annual Global Investment Conference
PR Newswire · 34d ago
Talphera (TLPH) Q2 2026 Earnings Call Transcript
Motley Fool · 48d ago
Talphera, Inc. Q2 2026 Earnings Call Summary
Moby · 54d ago
Talphera Inc (TLPH) (Q2 2026) Earnings Call Highlights: NEPHRO Study Enrollment Hits 75% as ...
GuruFocus.com · 55d ago
Talphera Q2 Earnings Call Highlights
MarketBeat · 55d ago
Talphera: Q2 Earnings Snapshot
Associated Press · 55d ago
Talphera Announces Second Quarter 2026 Financial Results and Provides Corporate Update
PR Newswire · 55d ago
PRIVATE STRATEGY · BY QUALIFICATION
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