ARS Pharmaceuticals Highlights Strong Neffy Growth and Global Expansion

Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks ARS Pharmaceuticals ( (SPRY) ) just unveiled an announcement. On May 15, 2026, ARS Pharmaceuticals reported first-quarter 2026 revenue of $22.7 million, driven largely by $17.5 million in U.S. neffy sales, alongside collaboration and supply revenue from partners. The company posted a net loss of $60.6 million as it continued to invest heavily in commercialization and R&D, but ended the quarter with $201 million in cash and said this should fund operations through cash-flow break-even. Commercial momentum for neffy accelerated, with payor access improving via a proposal in late-stage review at CVS Caremark, expansion to nine unrestricted state Medicaid formularies and completion of a sales force build-out to 148 representatives. Prescribing broadened to more than 28,000 healthcare providers and over 10,000 schools joined the neffyinSchools program, while an FDA label change in March 2026 removed age criteria so all patients weighing at least 33 pounds can use neffy. ARS also advanced pricing and access initiatives, including a new retail point-of-sale program launched in May that converts denied claims to a $199 cash price to reduce prescription abandonment. Internationally, Health Canada approved neffy on April 15, 2026 and the European Commission authorized EURneffy 1 mg on March 31, 2026 for younger pediatric patients, positioning partner ALK to launch the product across Canada and the EU. On the pipeline front, the company’s Phase 2b trial of intranasal epinephrine for chronic spontaneous urticaria reached full enrollment for its interim analysis population, with data expected in the fourth quarter of 2026. Taken together, the results and operational updates underscore ARS Pharma’s strategy of absorbing near-term losses to build neffy into a globally scaled, needle-free epinephrine franchise while extending its technology into chronic allergic conditions. The most recent analyst rating on (SPRY) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on ARS Pharmaceuticals stock, see the SPRY Stock Forecast page. Spark’s Take on SPRY Stock According to Spark, TipRanks’ AI Analyst, SPRY is a Neutral. The score is held down primarily by weak financial performance (large losses, meaningful revenue decline, and heavy cash burn). Offsetting factors include a solid, low-leverage balance sheet and a moderately constructive earnings-call outlook on adoption and runway to breakeven, while technicals are only mildly supportive and valuation remains constrained by negative earnings. To see Spark’s full report on SPRY stock, click here. More about ARS Pharmaceuticals ARS Pharmaceuticals, Inc. is a biopharmaceutical company focused on treatments for severe allergic reactions, including anaphylaxis. Its lead product, neffy, is an epinephrine nasal spray that is the first and only needle-free epinephrine treatment approved by both the FDA and the European Commission, with a growing global presence through partners in Europe and Canada. The company targets at-risk patients and caregivers seeking alternatives to injectable epinephrine, and is expanding access through U.S. commercial channels, state Medicaid plans, school programs and international partners. ARS is also developing its intranasal epinephrine platform for additional indications such as chronic spontaneous urticaria, aiming to broaden its reach in allergy and immunology care. Average Trading Volume: 1,496,072 Technical Sentiment Signal: Sell Current Market Cap: $788.4M