What is the 13F Pro Quality Score for TLPH?

13F Pro ranks TALPHERA, INC. (TLPH) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View TLPH's current score at https://13fpro.ai/research/TLPH (free sign-up required for the full ranking).

Where does 13F Pro source TLPH data?

All TALPHERA, INC. fundamentals and ownership data come directly from SEC EDGAR. TALPHERA, INC. files with the SEC under CIK 1427925. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is TLPH in?

TALPHERA, INC. (TLPH) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is TLPH research updated on 13F Pro?

TLPH's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

TALPHERA, INC.(TLPH)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Below size threshold

Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $29.5M in revenue.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

TLPH Stock Analysis & AI Quality Score

AI stock analysis and institutional research for TALPHERA, INC. (TLPH), a Healthcare sector company. TLPH is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $29.5m in revenue. Based on the latest XBRL financial filings (Q1 2026), TALPHERA, INC. reports net income of $-2.6M, free cash flow of $-3.4M. Top institutional holders of TLPH by reported 13-F value include AIGH Capital Management, Rock Springs Capital Management, Nantahala Capital Management,, based on the most recent SEC filings. TLPH trades on the Nasdaq exchange and files with the SEC under CIK 1427925. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TLPH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for TALPHERA, INC. directly from SEC EDGAR.

Revenue

Q1 2026

$0.00

Net Income

Q1 2026

$-2.6M

Free Cash Flow

Q1 2026

$-3.4M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-100.0% YoY

$0.00FY 2024

FY21 $378.0KFY22 $0.00FY23 $651.0KFY24 $0.00

Net Income

+29.3% YoY

$-13.0MFY 2024

FY21 $-35.1MFY22 $47.8MFY23 $-18.4MFY24 $-13.0M

Operating Income

+9.7% YoY

$-15.3MFY 2024

FY21 $-18.1MFY22 $-25.3MFY23 $-16.9MFY24 $-15.3M

EPS (Diluted)

—FY 2024

FY21 $-5.86FY22 $5.72FY23 $-1.29FY24 —

Total Assets

-10.6% YoY

$18.2MFY 2024

FY21 $77.9MFY22 $47.5MFY23 $20.4MFY24 $18.2M

Total Debt

—FY 2024

FY21 $22.6MFY22 $10.7MFY23 $0.00FY24 —

Op. Cash Flow

+27.5% YoY

$-12.7MFY 2024

FY21 $-30.0MFY22 $-28.3MFY23 $-17.5MFY24 $-12.7M

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2019	FY 2018
Revenue	$0.00 -100.0%	$651.0K	$0.00 -100.0%	$378.0K -83.5%	$2.3M +6.4%	$2.2M
Net Income	$-13.0M +29.3%	$-18.4M -138.5%	$47.8M +236.1%	$-35.1M +34.1%	$-53.2M -12.9%	$-47.1M
Operating Income	$-15.3M +9.7%	$-16.9M +33.2%	$-25.3M -39.7%	$-18.1M +66.6%	$-54.2M -51.7%	$-35.7M
EPS (Diluted)	—	$-1.29 -122.6%	$5.72 +197.6%	$-5.86	—	—
Total Assets	$18.2M -10.6%	$20.4M -57.1%	$47.5M -39.0%	$77.9M -14.7%	$91.4M -24.2%	$120.5M
Total Debt	—	$0.00 -100.0%	$10.7M -52.5%	$22.6M -24.1%	$29.8M +44.5%	$20.6M
Operating Cash Flow	$-12.7M +27.5%	$-17.5M +38.3%	$-28.3M +5.6%	$-30.0M +41.4%	$-51.2M -76.0%	$-29.1M

AI Insight: TLPH Financial Trends

Pre-revenue biotech burning cash with no commercial traction; equity base stabilizing after Q3 2025 capital infusion.

• Revenue remains at $0M across all eight quarters with no commercialization milestone reached since Q2 2024.

• Net losses stabilized at $3–4M per quarter; operating cash burn moderated to $2–3M in recent quarters versus $5M in Q2 2024.

• Equity recovered from $6M low in Q1 2025 to $18M in Q1 2026, indicating capital raise in Q3 2025.

⚠ Operating margin deteriorated from $-3M to $-4M in latest quarter despite stable net loss; operating efficiency unclear.

⚠ Sustained $0M revenue with no visibility to commercialization timeline poses existential runway risk.

AI Insight: TLPH Ratio Trends

TALPH remains deeply unprofitable with deteriorating capital efficiency; ROA improved modestly to -33.9% in Q1 2026 but ROIC worsened to -85.5%.

• ROA improved from -69.2% in Q1 2025 to -33.9% in Q1 2026, cutting losses nearly in half over 12 months.

• ROIC has declined each quarter since Q3 2025 (−71.4% to −85.5%), signaling worsening returns on invested capital.

• ROE remains severely negative at −55.3% in Q1 2026; company has not achieved positive shareholder returns in any reported period.

⚠ ROIC deterioration despite ROA improvement suggests balance-sheet restructuring or capital deployment issues require scrutiny.

⚠ No operating margin, net margin, or leverage data available; inability to assess profitability path or debt sustainability.

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Available Research

13F Pro tracks comprehensive data for TALPHERA, INC. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of TLPH

AIGH Capital Management LLC
$3.5M4,661,502 sh
Rock Springs Capital Management LP
$2.7M3,589,186 sh
Nantahala Capital Management, LLC
$2.6M3,492,519 sh
Rosalind Advisors, Inc.
$2.5M3,353,916 sh
Bleichroeder LP
$976.8K1,307,787 sh
CANTOR FITZGERALD, L. P.
$662.9K887,481 sh
Empery Asset Management, LP
$441.0K590,481 sh
Caption Management, LLC
$419.6K561,820 sh
Almitas Capital LLC
$348.9K467,152 sh
VANGUARD CAPITAL MANAGEMENT LLC
$329.9K441,611 sh

Fund	Value	Shares
AIGH Capital Management LLC	$3.5M	4,661,502
Rock Springs Capital Management LP	$2.7M	3,589,186
Nantahala Capital Management, LLC	$2.6M	3,492,519
Rosalind Advisors, Inc.	$2.5M	3,353,916
Bleichroeder LP	$976.8K	1,307,787
CANTOR FITZGERALD, L. P.	$662.9K	887,481
Empery Asset Management, LP	$441.0K	590,481
Caption Management, LLC	$419.6K	561,820
Almitas Capital LLC	$348.9K	467,152
VANGUARD CAPITAL MANAGEMENT LLC	$329.9K	441,611

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Is TLPH a good stock to buy?

13F Pro's AI-powered analysis of TALPHERA, INC. (TLPH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for TLPH are available on the TLPH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own TLPH?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling TLPH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of TALPHERA, INC.'s investment landscape.