Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Today, Talphera, Inc. (NASDAQ:TLPH) announced it has been granted an additional 180-day period by Nasdaq to comply with the $1.00 minimum bid price requirement, according to a filing with the Securities and Exchange Commission. The San Mateo, California-based pharmaceutical company must achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days by December 1, 2025. Currently trading at $0.49, the stock has declined over 50% in the past year, according to InvestingPro data, which shows the company’s market capitalization now stands at approximately $10 million.
Previously, on December 6, 2024, Nasdaq notified Talphera that its stock had closed below $1.00 for 30 consecutive business days, failing to meet the Nasdaq Global Select Market’s listing standards. Initially, the company was given until June 4, 2025, to regain compliance.
Talphera has since transferred its listing to the Nasdaq Capital Market, which allows for a second 180-day grace period under specific criteria. The company’s common stock continues to trade under the symbol "TLPH."
The firm is actively monitoring its stock price and considering measures, including a potential reverse stock split, to address the deficiency. Failure to meet the requirement by the deadline could result in delisting, though Talphera would have the option to appeal to the Nasdaq Hearings Panel.
This update is based on a statement from Talphera’s SEC filing.
In other recent news, Talphera Inc. reported a significant reduction in its cash operating expenses for the first quarter of 2025, bringing them down to $2.9 million from $4.2 million in the same period last year. The company also highlighted its ongoing nephro CRRT trial, which has received FDA-approved changes to the study design, aiming to streamline and expedite the trial process. Talphera’s financing strategy, structured in three tranches, has already seen the first tranche received, with further funding contingent on specific patient enrollment milestones. The company’s cash balance as of March 31, 2025, stood at $5.4 million, with a pro forma cash balance of $9.8 million after the recent financing. CEO Vince Angotti emphasized the company’s strategic focus on addressing unmet medical needs in CRRT. Additionally, Talphera plans to activate more clinical trial sites to enhance patient enrollment for its nephro CRRT trial. The company has also reduced its expected cash operating expense guidance for 2025 to between $17 million and $19 million. These developments reflect Talphera’s commitment to operational efficiency and strategic growth in the coming years.
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