ARS Pharmaceuticals(NASDAQ) SPRY

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.