SAN
MATEO, Calif., March 1,
2024 /PRNewswire/ -- Talphera, Inc. (Nasdaq:
TLPH), (Talphera), a specialty pharmaceutical company focused on
the development and commercialization of innovative therapies for
use in medically supervised settings, today announced as part of
its commitment to operating with best practices in corporate
governance, its Board of Directors has decided to reduce the size
of the Board from ten to seven directors. Three directors,
Howard Rosen, Richard Afable and Pamela Palmer have voluntarily agreed to resign
from the Board of Directors, effective immediately. Dr. Palmer will
continue in her current role of Chief Medical Officer and member of
the executive leadership team, with a focus on successfully
completing the Niyad™ registrational study later this
year.
Adrian Adams, Chairman of the
Talphera Board, said, "Our decision to reduce the size of the Board
reflects our commitment to operating consistent with best practices
in corporate governance and to better align the Board's size and
composition with Talphera's current strategy. We believe having a
smaller Board will improve efficiency as we focus on obtaining FDA
approval for Niyad and enhancing value for shareholders. Our
continuing directors provide diverse and deep experience in the
pharmaceutical industry, including corporate finance, corporate
development and M&A expertise."
Mr. Adams added, "Howie and Rick have made significant and
valuable contributions to the Company over the many years they have
served on the Board. We have appreciated their expertise, vision
and judgment during times of significant transition for the
Company. On behalf of the Board and the entire Company, I want to
thank them both for their commitment to Talphera over the
years. I also want to thank Pam, Howie and Rick for their support
and professionalism in effecting these Board changes to ensure
Talphera is in the best possible position to deliver value to our
shareholders."
About Talphera, Inc.
Talphera, Inc. is a specialty
pharmaceutical company focused on the development and
commercialization of innovative therapies for use in medically
supervised settings. Talphera's lead product candidate, Niyad™ is a
lyophilized formulation of nafamostat and is currently being
studied under an investigational device exemption, or IDE, as an
anticoagulant for the extracorporeal circuit, and has received
Breakthrough Device Designation status from the FDA. Talphera is
also developing two pre-filled syringes in-licensed from its
partner Aguettant: Fedsyra™, a pre-filled ephedrine syringe, and
PFS-02, a pre-filled phenylephrine syringe. This release is
intended for investors only. For additional information about
Talphera, please visit www.talphera.com.
About Niyad™ and Nafamostat
Nafamostat is a broad
spectrum, synthetic serine protease inhibitor with anticoagulant,
anti-inflammatory and potential anti-viral activities. Niyad™ is a
lyophilized formulation of nafamostat and is currently being
studied under an investigational device exemption (IDE), as an
anticoagulant for the extracorporeal circuit, and has received
Breakthrough Device Designation Status from the FDA. LTX-608 is a
proprietary nafamostat formulation for direct IV infusion that may
be investigated and developed for the treatment of acute
respiratory distress syndrome (ARDS), disseminated intravascular
coagulation (DIC), acute pancreatitis and as an antiviral, amongst
other potential targets.
Forward-looking statements
This press release contains
forward-looking statements based upon Talphera's current
expectations. These and any other forward-looking statements are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements may be
identified by the use of forward-looking terminology such as
"potential," "potentially," "believe," "expect," "anticipate,"
"may," "will," "if," "enable," "should," "seek," "approximately,"
"intends," "intended," "plans," "planned," "planning," "targeted,"
"estimates," "sufficient," "benefits," or the negative of these
words or other comparable terminology, and include Talphera's
statements regarding having a smaller board will improve our
efficiency and deliver enhanced value to shareholder. The
discussion of strategy, plans or intentions may also include
forward-looking statements, which are predictions, projections and
other statements about future events that are based on current
expectations and assumptions. These forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those projected, anticipated or implied by
such statements, including: (i) risks relating to Talphera's
product development activities and ongoing commercial business
operations; (ii) risks related to the ability of Talphera and its
business partners to implement development plans, launch plans,
forecasts and other business expectations; (iii) risks related to
unexpected variations in market growth and demand for Talphera 's
commercial and developmental products and technologies; (iv) risks
related to Talphera 's liquidity and its ability to maintain
capital resources sufficient to conduct the required clinical
studies; and (v) risks relating to Talphera's ability to obtain
regulatory approvals for its developmental product candidates.
Although it is not possible to predict or identify all such risks
and uncertainties, they may include, but are not limited to, those
described under the caption "Risk Factors" and elsewhere in
Talphera 's annual, quarterly and current reports (i.e., Form 10-K,
Form 10-Q and Form 8-K) as filed or furnished with the SEC and any
subsequent public filings. You are cautioned not to place undue
reliance on any such forward-looking statements, which speak only
as of the date such statements were first made. To the degree
financial information is included in this press release, it is in
summary form only and must be considered in the context of the full
details provided in Talphera 's most recent annual, quarterly or
current report as filed or furnished with the SEC. Talphera 's SEC
reports are available at www.talphera.com under the "Investors"
tab. Except to the extent required by law, Talphera undertakes no
obligation to publicly release the result of any revisions to these
forward-looking statements to reflect new information, events or
circumstances after the date hereof, or to reflect the occurrence
of unanticipated events.
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SOURCE Talphera, Inc.