Talphera, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Talphera, Inc. (TLPH) filed its Q1 2024 10-Q, detailing financial activities and warrant issuances.</b>

AI Summary

TALPHERA, INC. (TLPH) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Talphera, Inc. (formerly AcelRx Pharmaceuticals Inc.) filed its Q1 2024 10-Q report on May 14, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key dates mentioned include the issuance of Prefunded 2024 Warrants on January 17, 2024. The company's business address is 1850 Gateway Drive, Suite 175, San Mateo, CA 94404. The SIC code for Talphera, Inc. is 2834 (Pharmaceutical Preparations).

Why It Matters

For investors and stakeholders tracking TALPHERA, INC., this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Talphera, Inc. during the first quarter of 2024. The mention of various warrant issuances and modifications, such as the Prefunded 2024 Warrants and Modified January 2024 Warrants, indicates potential future equity dilution or capital raising activities.

Risk Assessment

Risk Level: low — TALPHERA, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major negative events.

Analyst Insight

Monitor future filings for detailed financial results and any updates on the company's product pipeline and commercialization efforts.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-14 — Filing Date (FILED AS OF DATE)
• 2024-01-17 — Prefunded 2024 Warrants Issuance Date (tlph:Prefunded2024WarrantsMember)
• 2008-02-22 — Date of Name Change (FORMER COMPANY)

Key Players & Entities

• TALPHERA, INC. (company) — FILER
• ACELRX PHARMACEUTICALS INC (company) — FORMER COMPANY
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-14 (date) — FILED AS OF DATE
• 2834 (other) — STANDARD INDUSTRIAL CLASSIFICATION
• 1850 GATEWAY DRIVE (address) — BUSINESS ADDRESS
• SAN MATEO (location) — BUSINESS ADDRESS CITY
• 650-216-3500 (phone) — BUSINESS PHONE

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-14: 10-Q Filing Date — Date Talphera, Inc. submitted its quarterly report.
• 2024-01-17: Prefunded 2024 Warrants Issued — Significant date related to warrant issuance and potential equity changes.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial condition and performance.)

Warrant

A security that gives the holder the right, but not the obligation, to purchase shares of a company's stock at a specific price. (Indicates potential future share issuance and dilution, impacting existing shareholders.)

Key Financial Figures

• $0.001 — ge on Which Registered: Common Stock, $0.001 par value TLPH The Nasdaq Global Ma

Filing Documents

• acrx20240331_10q.htm (10-Q) — 1238KB
• ex_666699.htm (EX-10.1) — 338KB
• ex_666709.htm (EX-31.1) — 8KB
• ex_666710.htm (EX-31.2) — 8KB
• ex_666711.htm (EX-32.1) — 6KB
• 0001437749-24-016694.txt (&nbsp;) — 6073KB
• tlph-20240331.xsd (EX-101.SCH) — 52KB
• tlph-20240331_def.xml (EX-101.DEF) — 360KB
• tlph-20240331_lab.xml (EX-101.LAB) — 313KB
• tlph-20240331_pre.xml (EX-101.PRE) — 383KB
• tlph-20240331_cal.xml (EX-101.CAL) — 33KB
• acrx20240331_10q_htm.xml (XML) — 836KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 5 Item 1.

Financial Statements

Financial Statements 5 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (unaudited) 5 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 (unaudited) 7 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

OTHER INFORMATION

PART II. OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 3. Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 56 Unless the context indicates otherwise, the terms "Talphera," "we," "us" and "our" refer to Talphera, Inc., and its consolidated subsidiary. "Niyad" and "Fedsyra" are trademarks, and "Zalviso" are registered trademarks, all owned by Talphera, Inc. This Quarterly Report also contains trademarks and trade names that are the property of their respective owners. 2

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q, or Form 10-Q, contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are subject to the "safe harbor" created by that section. The forward-looking statements in this Form 10-Q are contained principally under "Part I. Financial Information - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Part II. Other Information - Item 1A. Risk Factors". In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Form 10-Q, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Many important factors affect our ability to achieve our objectives, including: our ability to obtain additional required financing and to continue as a going concern; our ability to manage our operating costs and reduce our cash burn; the accuracy of our estimates regarding the sufficiency of our cash resources, future revenues, expenses, and capital requirements; our ability to maintain listing of our securities trading on the Nasdaq exchange; the historical performance and high volatility in the market price o

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Talphera, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share and per share data) March 31, 2024 December 31, 2023 (1) Assets Current Assets: Cash and cash equivalents $ 12,122 $ 5,721 Short-term investments 6,462 3,660 Prepaid expenses and other current assets 1,369 2,195 Total current assets 19,953 11,576 In-process research and development asset 8,819 8,819 Total assets $ 28,772 $ 20,395 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $ 1,274 $ 1,336 Accrued and other liabilities 1,340 2,445 Liabilities of discontinued operations, current portion 730 731 Total current liabilities 3,344 4,512 Warrant liability 2,780 1,778 Liability related to the sale of future payments 6,314 — Total liabilities 12,438 6,290 Commitments and Contingencies Stockholders' Equity: Common stock, $ 0.001 par value— 200,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 16,992,726 and 16,952,219 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 17 17 Additional paid-in capital 464,497 458,314 Accumulated deficit ( 448,180 ) ( 444,226 ) Total stockholders' equity 16,334 14,105 Total Liabilities and Stockholders' Equity $ 28,772 $ 20,395 (1) The condensed consolidated balance sheet as of December 31, 2023 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. See notes to condensed consolidated financial statements. 5 Talphera, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share data) Three Months Ended March 31, 2024 2023 Operating costs and expenses: Research and development $ 1,433 $ 1,047 Selling, general and administrative 2,804 4,281

View Full Filing

View this 10-Q filing on SEC EDGAR