ARS Pharmaceuticals logo

ARS Pharmaceuticals(NASDAQ) SPRY

Market Cap$420.66MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2022)-30%
5 Year-56%
1 Year-63%
1 Month-19%
Premium Feature
Moneyball Superscore
58/100
$4.24
-7.02%
-0.32Today
After hours$4.23-$0.01 (-0.24%)
ARS Pharmaceuticals last closing stock price
MetricPriceDate
Last closeUSD 4.232026-10-09
ARS Pharmaceuticals stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week+3.93%USD 4.072026-10-02
1 month-19.12%USD 5.232026-09-09
3 month-46.73%USD 7.942026-07-10
Year to date-63.69%USD 11.652025-12-31
1 year-63.47%USD 11.582025-10-09
3 year+4.96%USD 4.032023-10-10
5 year-56.12%USD 9.642021-10-08
Since inception-30.2%USD 6.062022-11-09

ARS Pharmaceuticals Financials at a Glance

Market Cap

$420.66MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$116.93M

Net Income (TTM)

-$215.43M

EPS (TTM)

-$2.17

P/E Ratio

-1.95

Dividend

$0.00

Beta (Volatility)

1.12 (Average)

Price

$4.24

Volume

1,258,395.687

Open

$4.53

Previous Close

$4.23

Daily Range

$4.20 - $4.56

52-Week Range

$3.99 - $13.15

Estimated Earnings Date

Nov 9, 2026

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About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc. makes a needle-free spray for severe allergies. This medicine stops dangerous reactions without using a traditional shot. It helps patients who are afraid of needles get treatment fast.

Spray Instead of a Needle

  • neffy 2 mg: Intranasal epinephrine spray designed for adults and children weighing 30 kg or more to stop severe allergic reactions.
  • neffy 1 mg: Lower-dose nasal spray for patients weighing 15 kg to less than 30 kg; it is used to treat life-threatening reactions in both children and adults.
  • ARS-2 Program: Experimental nasal treatment for hives and itchy skin; serves patients with chronic spontaneous urticaria, which is a condition that causes ongoing skin irritation.

Building a Global Footprint

  • Launched neffy in the United States in Sept. 2024 to provide a needle-free alternative to traditional allergy injections.
  • Merged with Silverback Therapeutics in Nov. 2022 to provide capital for drug development and commercial operations.
  • Secured a $250 million credit facility in Sept. 2025 to fund growth and clinical manufacturing.
  • Expanded into international markets including Japan, Australia, and China with product launches in Feb. and May 2026.
  • Partnered with ALK-Abell in May 2025 to co-promote treatments to healthcare providers across the United States.

What Sets neffy Apart

The company uses Intravail technology to help the body absorb medication quickly through the nose without using a needle. It has secured commercial insurance coverage for approximately 90% of plans in the United States to reduce costs for patients.

Growth by the Numbers

  • Total revenue was $33.7 million in the three-month period ended June 30, 2026, up 114% year over year.
  • Net product revenue in the United States reached $26.2 million in the second quarter of 2026, up 105% year over year.
  • Net loss reached $123.0 million for the six-month period ended June 30, 2026, compared to $78.8 million in the prior year period.
  • Cash, cash equivalents, and short-term investments totaled $143.8 million as of June 30, 2026.
  • Total market share for epinephrine in the United States grew to 5% in the second quarter of 2026, up from 2.5% a year earlier.

Bottom Line

ARS Pharmaceuticals has evolved from a research firm into a global commercial company with an approved needle-free allergy treatment. Its focus on user-friendly delivery methods addresses a significant unmet need for patients who require emergency medicine.

AI Generated • Aug 14, 2026

Industry

Biotechnology

Employees

163

CEO

Richard E. Lowenthal, MBA

Headquarters

San Diego, CA 92130, US

SPRY Financials

Key Financial Metrics (TTM)

Gross Margin

73.89%

Operating Margin

-184.96%

Net Income Margin

-184.24%

Return on Equity

-256.67%

Return on Capital

-85.20%

Return on Assets

-86.35%

Earnings Yield

-51.28%

Dividend Yield

0.00%

Payout Ratio

0.00%

Stock Overview

Market Cap

$420.66MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

99.45M

Volume

1.26M

Avg. Volume

1.85M

Financials (TTM)

Gross Profit

$86.40M

Operating Income

-$216.27M

EBITDA

-$207.01M

Operating Cash Flow

-$196.41M

Capital Expenditure

-$197.00K

Free Cash Flow

-$196.60M

Cash & ST Invst.

$143.85M

Total Debt

$171.60M

ARS Pharmaceuticals Performance Analysis

ARS Pharmaceuticals annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 1,316,000-76.1%
20232023-12-31USD 30,000-97.7%
20242024-12-31USD 89,149,000297063.3%
20252025-12-31USD 84,278,000-5.5%
ARS Pharmaceuticals sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-30106.8%
Q42025-12-31-13.6%
Q12026-03-31-19.2%
Q22026-06-3048.4%
ARS Pharmaceuticals annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD -0.8723.8%
20232023-12-31USD -0.57-34.2%
20242024-12-31USD 0.08N/A
20252025-12-31USD -1.74N/A
ARS Pharmaceuticals sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-30-13.0%
Q42025-12-3119.2%
Q12026-03-31-45.2%
Q22026-06-30-3.3%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$33.66M

+114.2%

Gross Profit

$20.81M

+93.9%

Gross Margin

61.83%

N/A

Market Cap

$420.66MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$2.16M

N/A

Employees

195

N/A

Net Income

-$62.34M

-38.9%

EBITDA

-$59.44M

-33.3%

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$143.85M

-40.1%

Total Debt

$171.60M

+10231.3%

Accounts Receivable

$46.84M

+79.6%

Inventory

$11.69M

+33.8%

Long Term Debt

$171.60M

+15907.7%

Short Term Debt

$0.00

-100.0%

Return on Assets

-86.35%

N/A

Return on Invested Capital

-1.15%

N/A

Free Cash Flow

-$60.93M

-53.7%

Operating Cash Flow

-$60.93M

-53.9%

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Questions About SPRY

What is the current price of ARS Pharmaceuticals?

ARS Pharmaceuticals is trading at $4.23 per share.

What is the 52-week range for ARS Pharmaceuticals?

Over the past 52 weeks, ARS Pharmaceuticals has traded between $3.99 and $13.15.

How much debt does ARS Pharmaceuticals have?

As of the most recent reporting period, ARS Pharmaceuticals reported total debt of $96.68M.

How much cash does ARS Pharmaceuticals have on hand?

ARS Pharmaceuticals reported $8.16M in cash and cash equivalents in its most recent financial results.

What is ARS Pharmaceuticals’s dividend yield?

ARS Pharmaceuticals does not currently have a dividend yield.

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