Home / Going-concern warnings / TALPHERA, INC.
Filed 2026-05-13 路 Form 10-Q 路 Accession 0001437749-26-016748 nano
Price before filing: $0.8575 (2026-05-12 close, split/dividend-adjusted)
Market cap at flag: $38.2M (2026-05-13) 路 Latest: $81.6M (2026-10-16)
| Window | TLPH | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +1.9% | +0.5% | +1.4% | 2026-06-12 |
| 90 days | +71.4% | +4.7% | +66.8% | 2026-08-11 |
| 180 days | pending | pending | until 2026-11-09 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 4 insiders bought $304K (5 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-02-12 | ASADORIAN RAFFI Chief Financial Officer | Purchase | 45,000 | $0.81 | $37K | no | Form 4 |
| 2026-02-12 | Angotti Vincent J. CHIEF EXECUTIVE OFFICER, Director | Purchase | 105,364 | $0.81 | $86K | no | Form 4 |
| 2026-02-12 | Aslam Shakil Chief Medical Officer | Purchase | 35,000 | $0.81 | $28K | no | Form 4 |
| 2026-02-12 | Dasu Badri N Chief Engineering Officer | Purchase | 35,000 | $0.81 | $28K | no | Form 4 |
| 2026-03-13 | Angotti Vincent J. CHIEF EXECUTIVE OFFICER, Director | Purchase | 213,310 | $0.59 | $125K | no | Form 4 |
| 2026-05-13: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-02-12 to 2026-06-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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