Tue, May 14, 9:05 PM (73 days ago)
Talphera, Inc. reported its financial results for the quarter ending March 31, 2024. Key financial highlights include: 1. **Financial Health**: Talphera's cash and cash equivalents increased to $12.1 million from $5.7 million at the end of 2023, with short-term investments rising to $6.5 million. Total assets grew to $28.8 million from $20.4 million. 2. **Revenue and Expenses**: The company did not generate revenue from continuing operations. Operating expenses were $4.2 million, down from $5.3 million in Q1 2023, primarily due to reduced selling, general, and administrative expenses. 3. **Net Loss**: Talphera reported a net loss of $4.0 million, a significant improvement from the $8.2 million loss in Q1 2023, which included a $7.0 million impairment charge from discontinued operations. 4. **Cash Flow**: Net cash used in operating activities decreased to $2.9 million from $5.3 million. Investing activities used $2.7 million, primarily for purchasing investments. Financing activities provided $12.0 million, mainly from the XOMA Purchase Agreement and a private placement. 5. **XOMA Agreement**: Talphera monetized a portion of future DSUVIA-related payments for $8.0 million, retaining a 50% interest after XOMA receives $20.0 million. 6. **Future Outlook**: The company expects to need additional capital within the next 12 months to fund operations and continue product development, particularly for its lead product candidate, Niyad.