Talphera appoints Joseph Todisco to board, grants CorMedix board designation rights

Talphera, Inc. (NASDAQ:TLPH) announced the appointment of Joseph Todisco as a Class III director and member of the compensation committee, effective Tuesday. Todisco will serve until the company’s 2026 annual meeting of stockholders or until a successor is appointed.

According to a press release statement, Todisco, age 49, is currently the Chief Executive Officer of CorMedix Inc. and has served on its board since March 2022. His previous experience includes senior roles at Amneal Pharmaceuticals, including Executive Vice President and Chief Commercial Officer, as well as co-founding Gemini Laboratories. Todisco also held positions at Ranbaxy, Par Pharmaceutical, Oppenheimer & Company, and Marsh & McLennan Companies. He holds an MBA in Finance from Fordham Graduate School of Business and a BA in Economics from Georgetown University.

In connection with his appointment, Todisco received an initial grant of 6,397 restricted stock units and options to purchase 38,381 shares of Talphera common stock at an exercise price of $1.11 per share, under the company’s 2020 Equity Incentive Plan. These awards vest in three equal annual installments over a three-year period, beginning Tuesday, contingent on continued board service. Talphera also plans to enter into a non-employee director indemnification agreement with Todisco.

There are no family relationships between Todisco and Talphera directors or executive officers, and no other material interests requiring disclosure.

Todisco’s appointment follows a securities purchase agreement between Talphera and CorMedix in September. As long as CorMedix and its affiliates hold at least 25% of the shares purchased in the initial private placement, CorMedix retains the right to designate one Talphera board member, subject to Nasdaq rules.

Additionally, under the agreement, following the public announcement of key clinical study results for Talphera’s Niyad product candidate, CorMedix will have an exclusive 60-day period to negotiate a potential acquisition of Talphera. If no agreement is reached, Talphera may not enter into a less favorable acquisition agreement with another party for nine months without CorMedix’s written consent. These rights terminate upon certain conditions, including the end of the clinical study or by December 31, 2027.

All information is based on a recent SEC filing.

In other recent news, Talphera Inc. announced during its Q2 2025 earnings call that it is navigating market challenges, including supply chain issues impacting the anticoagulation sector. The company reported strategic reductions in operating expenses and shared significant updates on its clinical trials. Talphera is working towards potentially becoming the first FDA-approved regional anticoagulant for continuous renal replacement therapy (CRRT). Additionally, Talphera has reached 25% enrollment in its NEPHRO CRRT pivotal clinical trial, with 17 patients enrolled out of the 70-patient target. This milestone was achieved primarily due to an acceleration in recruitment from new clinical sites. Over 90% of the enrolled patients are now coming from these newly added target profile sites. These developments reflect Talphera’s ongoing efforts to advance its clinical programs amidst challenging market conditions.

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