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Mar 31
AcelRx Q1 2025 Earnings Report
AcelRx, now Talphera, reported minimal revenue and reduced net loss in Q1 2025 amid clinical progress and financing support.
Key Takeaways
Talphera reported $27,000 in revenue and a net loss of $2.6 million in Q1 2025, reflecting lower operating expenses compared to the prior year. The company made progress on its NEPHRO CRRT trial and secured the first tranche of a $14.8 million financing to support clinical development.
Revenue for Q1 2025 was $27,000 compared to zero in Q1 2024.
Net loss narrowed to $2.6 million from $4.0 million a year ago.
Cash and investments totaled $5.4 million at quarter end.
Total operating expenses decreased to $2.9 million, down from $4.2 million in Q1 2024.
AcelRx
AcelRx
Forward Guidance
Talphera expects to complete enrollment of its NEPHRO CRRT trial by year-end, supported by new clinical sites and milestone-based financing.
Positive Outlook
- NEPHRO CRRT study size reduced and remains 90% powered.
- Three new clinical sites activated, with five more expected mid-year.
- First tranche of $4.4M financing closed, supporting trial funding.
- Cash operating expenses guided between $17M and $19M for full year.
- Engagement from newly targeted study sites reported as high.
Challenges Ahead
- Minimal revenue generation in Q1 highlights reliance on financing.
- Ongoing net losses despite cost reductions.
- Second and third tranches of financing contingent on enrollment and stock milestones.
- Discontinued operations only contributed $73,000 in income.
- Remaining financing dependent on stock price performance.