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Talphera, Inc. (TLPH) stock analysis

TLPHNasdaqPharmaceutical PreparationsFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 12, 2026Score 5/30
$1.05+0.00 (0.00%)

Close on Nov 11, 2026Market cap $54.50MP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value0Growth0Performance0Health5Dividend0

Weak5 of 30 checks passed

Talphera passes 5 of the 30 checks behind our score; 19 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
0/6
Past performance
0/6
Financial health
5/6
Dividend
0/6

What stands out

  • No debt

    Talphera has no borrowings on its latest balance sheet.

  • Interest well covered

    No meaningful interest expense to cover.

  • Debt covered by cash flow

    There is no debt to cover.

  • Debt not rising

    With no debt today, leverage cannot have risen.

What to watch

  • Elevated bankruptcy risk

    The Altman Z-score is -23.55; above 3 is the safe zone and below 1.8 the distress zone.

  • P/B above the industry

    Talphera's price-to-book of 3.78 is above the Drugs median of 2.29.

  • Growing slower than the industry

    Revenue grew -96.3% over the last twelve months; the Drugs median is 8.0%.

  • Return on equity below the industry

    Talphera's return on equity of -143% is below the Drugs median of -58.8%.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B above the industry

    Talphera's price-to-book of 3.78 is above the Drugs median of 2.29.

  • Price against fair value

    We could not estimate a fair value: it needs at least two valuation methods with positive inputs.

  • Margin of safety

    Depends on the fair value estimate.

Growth0/6

  • Revenue growth over 3 years

    Needs three years of positive revenue.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew -96.3% over the last twelve months; the Drugs median is 8.0%.

  • Guidance issued

    The latest outlook (2026 Cash operating expenses, or selling, general and administrative, and research and development expenses, excluding stock-based compensation, Mar 23, 2026) was issued for the first time, so it neither adds nor takes away points.

  • Gross margin trend

    This company does not report gross profit.

Past performance0/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on invested capital

    Needs operating income and invested capital.

  • Return on equity below the industry

    Talphera's return on equity of -143% is below the Drugs median of -58.8%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin against its history

    Needs five years of revenue and net income.

  • Net margin below the industry

    Talphera's net margin of -1507600% is below the Drugs median of -53.0%.

Financial health5/6

  • No debt

    Talphera has no borrowings on its latest balance sheet.

  • Debt not rising

    With no debt today, leverage cannot have risen.

  • Debt covered by cash flow

    There is no debt to cover.

  • Interest well covered

    No meaningful interest expense to cover.

  • Short-term assets cover short-term debts

    Current assets are 4.29 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is -23.55; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Talphera has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Talphera. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Drugs median 25.1

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

High risk

Average value traded per day
$127.45K
Value traded per 1% price move
$63.77K

Downside

High risk

Typical loss in a bad month
25.6%
Volatility (annualized)
71%
Sharpe ratio, 1 year
-0.30
Beta to the S&P 500 (5Y)
0.64

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

–

Operating margin

-48157.1%−47400.8 pts over 5 years

Net margin

-51035.7%−50290.2 pts over 5 years

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