Talphera (TLPH) Registration Filing summary

Company overview and business model

• Specialty pharmaceutical company focused on developing and commercializing innovative therapies for medically supervised settings, with a portfolio including Niyad (regional anticoagulant for dialysis), LTX-608 (nafamostat formulation), and two pre-filled syringe product candidates (Fedsyra and phenylephrine).

• Strategy centers on developing, obtaining approval for, and commercializing Niyad, with plans to expand into additional acute care therapies.

• Incorporated in Delaware, with a history of name changes and principal offices in San Mateo, CA.

Financial performance and metrics

• Raised approximately $4.9 million in gross proceeds from the first tranche of a private placement in March 2025, with commitments for two additional tranches of $4.9 million each, contingent on clinical milestones and stock price performance.

• As of April 30, 2025, 20,503,463 shares of common stock were issued and outstanding, with no preferred stock outstanding.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling stockholders; all proceeds from this offering go to the selling stockholders.