Talphera announced a private placement of up to $29 million at a market-conform price. The announcement was reported by Reuters and published on September 8, 2025. The article is paywalled and marked as reserved for members, inviting readers to register to unlock the full text. The public notice describes the planned private placement but does not disclose investor names or detailed terms beyond the maximum amount and market pricing. The article provides no information on use of proceeds, instrument specifics, past rounds, founding year, location, or operating metrics. Talphera’s lead candidate, Niyad, is a lyophilized formulation of nafamostat being studied under an IDE as an anticoagulant for the extracorporeal circuit and has received FDA Breakthrough Device Designation. The company is also developing two in‑licensed pre-filled syringes, Fedsyra (ephedrine) and PFS‑02 (phenylephrine). Talphera expects top-line NEPHRO registration trial data in Q3 2024, a PMA submission before the end of 2024, and is targeting potential FDA approval of Niyad in the first half of 2025. Management reported a preliminary cash balance of approximately $9.4 million at December 31, 2023 and expects cash operating expenses of $21–23 million in 2024. To support development through potential approval, Talphera announced committed capital combining a non-dilutive royalty monetization and an equity offering. The company also retains an interest in DSUVIA royalties and milestones following a prior sale to Alora, which generates specified royalty rates and up to $116.5 million in sales‑based milestones.

Total raised

$43M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2025