ARS Pharmaceuticals Reports $6.5M in Q4 Revenue

By Tamara Parker • Monday, January 13 15:23 • Permanent Link

ARS Pharmaceuticals, Inc. (NASDAQ: SPRY) has announced its preliminary financial results for the fourth quarter of 2024. The company reported approximately $6.5 million in net product revenue for its Neffy® (epinephrine nasal spray) during the quarter, with total net product sales for 2024 reaching around $7.1 million since Neffy became available to wholesalers and pharmacies on September 23, 2024.

In addition to its revenue figures, ARS Pharmaceuticals also disclosed a cash position of approximately $314.0 million as of December 31, 2024. The company reiterated its guidance that this cash, along with cash equivalents and short-term investments, is expected to be sufficient to fund its current operating plan for at least three years.

Looking forward to 2025, the company outlined key strategic priorities for accelerating Neffy sales in the U.S. These include increasing demand and traction among target prescribers, expanding commercial access of Neffy, and increasing consumer awareness of the needle-free epinephrine option.

In terms of specific achievements, ARS Pharmaceuticals reported that more than 3,000 healthcare providers have prescribed Neffy to date, with over 80% falling into the highest decile categories for prescribing epinephrine. Additionally, the company noted that Express Scripts, the second largest pharmacy benefits manager in the U.S., added Neffy to its commercial national formularies in November 2024.

Looking ahead, ARS Pharmaceuticals is preparing to launch a branded Neffy direct-to-consumer marketing campaign beginning in May 2025. This campaign is designed to build momentum ahead of the 'back-to-school' season and will extend throughout the summer, aiming to drive brand recognition and encourage patients to request Neffy by name.

Furthermore, the company has filed a supplemental new drug application (sNDA) with the U.S. FDA for Neffy for children who weigh 15 to 30 kg, with a Prescription Drug User Fee Act (PDUFA) target action date of March 6, 2025. If approved, the product availability of Neffy 1 mg for this patient population is expected in the second quarter of 2025.

ARS Pharmaceuticals also provided some important safety information for Neffy, advising patients when to seek emergency medical assistance and highlighting potential adverse reactions to the product.

The market has reacted to these announcements by moving the company's shares 2.2% to a price of $11.48. For the full picture, make sure to review ARS Pharmaceuticals's 8-K report.

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