Talphera, Inc. (TLPH)

Nasdaq: TLPH · Pharmaceutical Preparations · San Mateo, CA · filing with the SEC since 2008

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Grade4.0

◀ Past 2.1● Present 3.9▶ Future 5.2

3 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Talphera, Inc.

Nine metrics read from its own filings, by tense

Headline grade

4.0/10

◀ Past2.125% of the headline

● Present3.935% of the headline

▶ Future5.240% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 6 read as filed from the record and 3 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

2.1/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

1.1/10

Has it survived what it has been through?

13 warning events since 2017; the latest 2026-03-13.

weight 22% of this tense · 11th percentile among 497 sector filers · read for itself

From the record

Talphera, Inc.'s filings since 2017 show 13 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 10 times, the latest 2026-03-13); a warning not to rely on past financial statements (8-K item 4.02, the latest 2023-03-30); an auditor change (8-K item 4.01, 2 times, the latest 2023-10-05) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

2.3/10

What has it actually done, year after year?

-50.7% a year over 9 filed years; profitable in 1 of 9.

weight 45% of this tense · 23rd percentile among 323 sector filers · read for its customers

From the record

Talphera, Inc.'s 9 filed years say what it did: revenue went from $8 million in fiscal 2017 to $28 thousand in fiscal 2025, down 50.7% a year; it rose in 2 of 6 years; the deepest fall was 100% from fiscal 2017 to fiscal 2022; net income was positive in 1 of 9 of those years (its annual reports).

What it rests on

revenue growth over the filed span-50.7%bottom 4% of its family
the share of years revenue rosebottom 17% of its family
the share of filed years with a profittop 38% of its family
the deepest fall from a revenue peak100.0%bottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

2.4/10

How has it treated the people who own it?

SI estimate 2.4/10, confidence 35 of 100 (one part).

weight 33% of this tense · 24th percentile among 464 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 24% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 464 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Talphera, Inc.'s shareholder treatment is put at 2.4 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 24% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.9/1035% of the headline grade · 3 of 3 filed

Financial health

as filed

3.6/10

Is it financially healthy right now?

ROE -84%: lost 84¢ per shareholder dollar. Leverage 43%: owes 43¢ per asset dollar.

weight 45% of this tense · 36th percentile among 473 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Talphera, Inc. lost about 84 cents for every dollar of shareholders' money. Leverage: it owed about 43 cents per dollar of assets, and net share issuance: its share count grew 64.1% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 41% of its family
return on equitybottom 36% of its family
the share count against the year beforebottom 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

0.3/10

How strong is its position in its industry?

bottom 3% of 315 in its family; net margin -51035.7%.

weight 22% of this tense · 3rd percentile among 315 sector filers · read for its customers

From the record

Talphera, Inc.'s standing among 315 graded names in its industry family: revenue of $28 thousand in fiscal 2025 ranks in the bottom 3% by size; a net margin of -51035.7% ranks in the bottom 4% (its annual reports).

What it rests on

revenue against the family$28,000bottom 3% of its family
net margin-51035.7%bottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed

6.7/10

What are the people in charge doing?

top 33% of 315 in its family for leadership; chief executive since 2017.

weight 33% of this tense · 67th percentile among 315 sector filers · read for its shareholders

From the record

Talphera, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Angotti, Vincent J. (CHIEF EXECUTIVE OFFICER, as filed), filing under that title since 2017-03-07, 9.7 years (top 18% of its family); the 11 officers and directors filing in the last fifteen months have been on the record a median of 9.2 years (top 11%); 7 officer or director changes were reported on Form 8-K since 2023-11-13, against the 11 people in charge now (bottom 30%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

officer and director changes on Form 8-K, against the people in charge7 in three years among 11 peoplebottom 30% of its family
the median years the people in charge have filed9.2 yearstop 11% of its family
the chief executive's years on the record9.7 yearstop 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.2/1040% of the headline grade · 1 of 3 filed, 2 estimated

Room to expand

as filed

4.7/10

How much room does it have to grow?

bottom 46% of 273 in its family for room to expand.

weight 33% of this tense · 46th percentile among 273 sector filers · read for itself

From the record

Talphera, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $6 million against no long-term debt tagged leaves 19.8% of its assets as net cash, bottom 39% of its family; cash from operations less capital spending is -40585.7% of revenue (bottom 4%); research spending of 21546.4% of revenue (top 4%) (its annual report).

What it rests on

cash less debt against assets19.8%bottom 39% of its family
cash from operations less capital spending against revenue-40585.7%bottom 4% of its family
research spending against revenue21546.4%top 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

SI estimate

7.8/10

What could actually drive growth from here?

SI estimate 7.8/10, confidence 35 of 100 (one part).

weight 45% of this tense · 79th percentile among 323 sector filers · read for its customers

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the three-year growth of research spending, which ranks in the top 21% of 323 in its family; the record does not carry three filed years of revenue and two of the four parts: acceleration, the newest year's growth, the growth of research and of capital spending.
What the record cannot read: The record does not carry three filed years of revenue and two of the four parts: acceleration, the newest year's growth, the growth of research and of capital spending.
How it was reasoned: one part: three-year growth of research spending, the one part on file, ranked among 323 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Talphera, Inc.'s growth drivers is put at 7.8 of 10 with a confidence of 35 of 100, because read from one part only, the three-year growth of research spending, which ranks in the top 21% of 323 in its family; the record does not carry three filed years of revenue and two of the four parts: acceleration, the newest year's growth, the growth of research and of capital spending. A filing that carries the missing parts replaces this estimate with the filed reading.

Expectations vs reality

SI estimate

0.5/10

Did its newest year beat what its own record pointed to?

SI estimate 0.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 5th percentile among 284 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, net income against the prior three years' average, which ranks in the bottom 5% of 284 in its family; the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
What the record cannot read: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned: one part: net income against the prior three years' average, the one part on file, ranked among 284 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Talphera, Inc.'s expectations vs reality is put at 0.5 of 10 with a confidence of 35 of 100, because read from one part only, net income against the prior three years' average, which ranks in the bottom 5% of 284 in its family; the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change. A filing that carries the missing parts replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton TLPH · research, not advice