Talphera Inc., a specialty pharmaceutical company, has announced its second quarter 2025 financial results. The company reported a cash and cash equivalents balance of $6.8 million as of June 30, 2025. Talphera also provided an expense guidance for 2025, forecasting cash operating expenses, excluding stock-based compensation, to be in the range of $16 million to $17 million. This is a reduction from the previously provided range of $17 million to $19 million. In terms of business updates, Talphera has made progress in its NEPHRO CRRT registration trial, with 15 patients enrolled and completion projected by the end of the year. The company also announced the closing of the first tranche of a $4.9 million financing as part of a three-tranche deal for up to $14.8 million. The financing was led by existing investors and includes a member of management.