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Mar 31, 2025
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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