TALPHERA, INC. (TLPH) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
TLPH currently has 51.9M outstanding shares. with significant dilution risk as 276M authorized shares could dilute existing holders by 531.8%. The company has significantly diluted shareholders by 158.82% over the past 2 years, indicating aggressive capital raising.
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 13, 2026 |
10-Q filing | 51.9M shares outstanding |
52M | 280M |
| Mar 23, 2026 |
10-K filing | 50.0M shares outstanding |
50M | 280M |
| Mar 16, 2026 |
8-K filing: Talphera, Inc. completed the third closing of a private placement, issuing 639,931 shares of common stock at $0.586 per share and pre-funded warrants to purchase up to 6,399,316 shares at $0.585 per warrant. |
47M | 280M |
| Nov 12, 2025 |
10-Q filing | 46.6M shares outstanding |
47M | 280M |
| Oct 28, 2025 |
S-3 filing: This S-3 filing registers for resale up to 1,023,890 shares of common stock and 1,706,484 shares of common stock issuable upon exercise of pre-funded warrants by selling stockholders who acquired these securities through a prior private placement. |
21M | 310M |
| Sep 22, 2025 |
S-3 filing: This prospectus relates to the proposed resale from time to time by the selling stockholders of up to 25,036,360 shares of common stock and 5,845,455 shares of common stock issuable upon exercise of pre-funded warrants. |
21M | 300M |
| Sep 10, 2025 |
8-K filing: Talphera, Inc. issued and sold 25,036,360 shares of common stock at $0.55 per share and pre-funded warrants to purchase up to 5,845,455 shares of common stock at $0.549 per share in a private placement, resulting in gross proceeds of approximately $17 million. ($16.98M proceeds) |
21M | 270M |
| Aug 14, 2025 |
10-Q filing | 20.5M shares outstanding |
21M | 270M |
| May 14, 2025 |
10-Q filing | 20.5M shares outstanding |
21M | 270M |
| May 02, 2025 |
S-3 filing: This prospectus relates to the proposed resale from time to time by the selling stockholders of up to 3,405,118 shares of common stock and 4,999,316 shares of common stock issuable upon exercise of pre-funded warrants. |
17M | 280M |
| Apr 02, 2025 |
8-K filing: Talphera, Inc. entered into a securities purchase agreement for a private placement involving the issuance and sale of common stock and pre-funded warrants in three tranches, with the first closing on April 2, 2025, resulting in gross proceeds of approximately $4.9 million. ($4.9M proceeds) |
17M | 270M |
| Mar 31, 2025 |
10-K filing | 17.1M shares outstanding |
17M | 270M |
| Nov 13, 2024 |
10-Q filing | 17.0M shares outstanding |
17M | 270M |
| Aug 14, 2024 |
10-Q filing | 17.0M shares outstanding |
17M | 270M |
| May 14, 2024 |
10-Q filing | 17.0M shares outstanding |
17M | 270M |
| Mar 06, 2024 |
10-K filing | 17.0M shares outstanding |
17M | 270M |
| Feb 06, 2024 |
S-3 filing: This S-3 filing relates to the proposed resale of common stock issuable upon exercise of pre-funded warrants by selling stockholders. |
17M | 270M |
| Nov 22, 2023 |
S-3 filing: The filing is an S-3 registration statement for the potential offering of up to $150,000,000 of common stock, preferred stock, debt securities, and/or warrants. |
17M | 260M |
| Nov 14, 2023 |
10-Q filing | 16.8M shares outstanding |
17M | 15M |
| Aug 10, 2023 |
10-Q filing | 10.9M shares outstanding |
11M | 21M |
| Aug 02, 2023 |
S-3 filing: This S-3 filing registers the resale of common stock and warrants by selling stockholders; the company will not receive any proceeds from the sale of these securities. |
11M | 21M |
| Jul 21, 2023 |
8-K filing: AcelRx Pharmaceuticals, Inc. completed a private placement on July 20, 2023, issuing 5,340,591 shares of common stock, pre-funded warrants for 2,012,356 shares, Series A warrants for 7,352,947 shares, and Series B warrants for 7,352,947 shares, resulting in gross proceeds of approximately $10.0 million. ($10.0M proceeds) |
11M | 0 |
| May 10, 2023 |
10-Q filing | 10.9M shares outstanding |
11M | 0 |
| Mar 31, 2023 |
10-K filing | 8.2M shares outstanding |
8.2M | 1.5M |
| Dec 29, 2022 |
8-K filing: AcelRx Pharmaceuticals, Inc. entered into a securities purchase agreement for the issuance and sale of common stock, pre-funded warrants, and common warrants, with aggregate gross proceeds expected to be approximately $7.5 million. ($7.5M proceeds) |
7.4M | 2.4M |
| Nov 15, 2022 |
S-3 filing: This S-3 filing relates to the proposed resale of common stock issuable upon the exercise of a warrant held by Lincoln Park Capital Fund, LLC. The company will not receive any proceeds from the sale of these shares. |
7.4M | 2.4M |
| Nov 14, 2022 |
10-Q filing | 7.4M shares outstanding |
7.4M | 2.3M |
| Oct 25, 2022 |
Stock Split
8-K filing | Stock split 1-for-20 | Outstanding: 147,209,065 → 7,360,453 |
7.4M | 2.3M |
| Aug 11, 2022 |
10-Q filing | 147.2M shares outstanding |
150M | 47M |
| May 16, 2022 |
10-Q filing | 145.6M shares outstanding |
150M | 48M |
| Apr 22, 2022 |
S-3/A filing: This S-3/A filing relates to the proposed resale from time to time by the selling stockholders of up to 11,017,058 shares of common stock and up to $26.0 million of contingent consideration payable in cash or common stock at our option, upon the achievement of regulatory and sales-based milestones. |
140M | 57M |
| Apr 15, 2022 |
S-3 filing: This is an S-3 filing for the resale of up to 11,017,058 shares of common stock by selling stockholders and up to $26.0 million of contingent consideration payable in cash or common stock. |
140M | 57M |
| Mar 10, 2022 |
10-K filing | 136.8M shares outstanding |
140M | 46M |
| Nov 15, 2021 |
10-Q filing | 119.3M shares outstanding |
120M | 63M |
| Nov 15, 2021 |
8-K filing: AcelRx Pharmaceuticals, Inc. entered into a securities purchase agreement for the issuance and sale of 17,500,000 shares of common stock and warrants to Armistice Capital and Rock Springs Capital. ($14.0M proceeds) |
120M | 64M |
| Aug 16, 2021 |
10-Q filing | 119.2M shares outstanding |
120M | 64M |
| May 17, 2021 |
10-Q filing | 119.1M shares outstanding |
120M | 64M |
| Mar 15, 2021 |
10-K filing | 98.8M shares outstanding |
99M | 84M |
| Jan 21, 2021 |
8-K filing: AcelRx Pharmaceuticals, Inc. entered into an underwriting agreement with Cantor Fitzgerald & Co. for a public offering of 14,500,000 shares of common stock at $1.7625 per share, with an option for the underwriter to purchase an additional 2,175,000 shares. ($25.56M proceeds) |
90M | 92M |
| Dec 10, 2020 |
8-K filing: AcelRx Pharmaceuticals, Inc. completed an offering of 8,333,333 shares of common stock at $1.20 per share, resulting in gross proceeds of $10 million. ($10.0M proceeds) |
90M | 92M |
| Nov 05, 2020 |
10-Q filing | 90.5M shares outstanding |
90M | 92M |
| Aug 10, 2020 |
10-Q filing | 80.9M shares outstanding |
81M | 100M |
| Jul 23, 2020 |
8-K filing: The Company entered into a securities purchase agreement with Armistice Capital and Rock Springs Capital for the issuance and sale of 9,433,962 shares of common stock at $1.06 per share, resulting in gross proceeds of approximately $10 million. ($10.0M proceeds) |
81M | 100M |
| Jun 12, 2020 |
S-3 filing: The company is filing an S-3 to register the offering of up to $150,000,000 of common stock, preferred stock, and debt securities. |
81M | 100M |
| Jun 08, 2020 |
POS AM filing: This is a Post-Effective Amendment to deregister all shares of Common Stock previously registered due to termination of the Merger Agreement. |
81M | 0 |
| May 11, 2020 |
10-Q filing | 80.8M shares outstanding |
81M | 0 |
| Mar 16, 2020 |
10-K filing | 80.4M shares outstanding |
80M | 0 |