Talphera Unveils $29 Million Private Placement Driven by CorMedix and Institutional Investors
Private Placement Agreement: Talphera, Inc. has entered into securities purchase agreements for a private placement of common stock and pre-funded warrants, potentially raising up to $29 million, with $17 million from the first closing and $12 million contingent on study results.
Funding and Strategic Support: The funding will support Talphera through the potential approval of Niyad PMA, with CEO Vince Angotti highlighting confidence from CorMedix and institutional investors, as well as accelerated enrollment in the NEPHRO CRRT study.
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- Patient Enrollment Progress: Talphera has enrolled 35 out of 70 patients in the NEPHRO-CRRT clinical trial, achieving a 50% enrollment milestone that demonstrates the effectiveness of new target clinical sites, which is expected to accelerate the study's progress and enhance market competitiveness.
- Clinical Trial Adjustments: With FDA agreement, Talphera implemented significant changes to the NEPHRO CRRT trial, including a nearly 60% reduction in total enrollment numbers and revised criteria aimed at improving patient recruitment efficiency and data quality.
- Expert Sharing Event: The company plans to host a virtual investor and analyst event on March 23, 2026, featuring two nephrology experts who will share their experiences in the CRRT field, further boosting investor confidence in the company's products.
- FDA Application Outlook: Talphera anticipates filing a PMA this year, which, if approved, would make it the only FDA-approved regional anticoagulant for CRRT, addressing the urgent market need for better anticoagulants and holding significant commercial potential.
- Patient Enrollment Progress: Talphera has achieved 50% enrollment in the NEPHRO-CRRT clinical trial with 35 out of 70 patients enrolled, a milestone facilitated by FDA approval and the introduction of new clinical sites, which is expected to accelerate subsequent recruitment.
- Trial Adjustments: In 2025, Talphera implemented significant changes to the NEPHRO CRRT trial, including a nearly 60% reduction in total enrollment numbers and updated target profiles for clinical sites, focusing on medical ICUs, which has improved recruitment efficiency.
- Expert Sharing Event: The company plans to host a virtual investor and analyst event on March 23, 2026, featuring two key experts who will share their experiences in the CRRT field, further enhancing investor confidence in the company's products.
- FDA Application Outlook: Talphera anticipates filing a PMA this year, which, if approved, would make it the only FDA-approved regional anticoagulant for CRRT, addressing the urgent market need for better anticoagulants and holding significant market potential.

Financing Update: Talphera, Inc. closed a $17 million first tranche financing led by CorMedix, Inc., with expectations of sufficient capital through a potential PMA approval of their product Niyad in late 2026.
Clinical Study Progress: Five out of nine target clinical sites for the NEPHRO study are activated, with completion expected in the first half of 2026, and positive enrollment momentum reported.
Financial Performance: For Q3 2025, Talphera reported a net loss of $4.4 million, slightly higher than the previous year, with cash and investments totaling $21.3 million as of September 30, 2025.
Future Guidance: The company anticipates cash operating expenses for 2025 to be between $14 million and $15 million, a reduction from previous estimates, as they continue to advance the NEPHRO CRRT registration trial.

Financial Results Announcement: Talphera, Inc. will release its third quarter 2025 financial results on November 12, 2025, followed by a live webcast and conference call at 4:30 p.m. ET to discuss the results and business updates.
Webcast and Conference Call Details: The webcast can be accessed through Talphera's website, and a replay will be available for 90 days. Investors can join the conference call using specific dial-in numbers and a conference ID.
Company Overview: Talphera, Inc. is a specialty pharmaceutical company focused on developing innovative therapies for medically supervised settings, with its lead product candidate, Niyad™, currently under investigation as an anticoagulant.
Regulatory Status: Niyad™ has received Breakthrough Device Designation from the FDA, highlighting its potential significance in medical applications.

Surge in Biotech Stocks: U.S.-listed biotech and healthcare stocks experienced significant after-hours gains, with Turn Therapeutics Inc. leading the way, surging 134.29% after its Nasdaq debut.
Momentum and Anticipation: Other companies like Talphera Inc. and Ionis Pharmaceuticals Inc. also saw notable increases, driven by momentum and upcoming presentations, indicating a strong interest in the biotech sector.

Nebius Group's Contract with Microsoft: Nebius Group N.V. shares surged 49.6% in pre-market trading after announcing a $19.4 billion, five-year GPU infrastructure contract with Microsoft for its new data center in Vineland, New Jersey.
Pre-Market Stock Movements: Several stocks experienced significant pre-market trading changes, with Big Tree Cloud Holdings rising 625.1% and Santech Holdings increasing 533.3%, while NFT Limited and Taitron Components saw declines of 32.2% and 28.8%, respectively.



