Talphera is a specialty pharmaceutical company developing innovative therapies for hospital settings, focused on Niyad (nafamostat mesylate), a regional anticoagulant infused into dialysis circuits during continuous renal replacement therapy to prevent clotting without systemic anticoagulation in patients with acute kidney injury who cannot tolerate or are at risk from standard anticoagulants. Nafamostat, a broad-spectrum synthetic serine protease inhibitor with a short half-life and anti-inflammatory properties, has been used for decades in Japan and South Korea for dialysis anticoagulation and other conditions, and Niyad is currently in clinical development for FDA approval with potential additional applications in other hospital-based indications. The company also maintains a pipeline candidate, LTX-608, for conditions including disseminated intravascular coagulation and acute pancreatitis, with revenue generation dependent on successful regulatory approval and commercialization of these products.