ARS Pharma reports Q3 net loss $51.2M; neffy net product revenue $31.3M

ARS Pharmaceuticals, Inc.

2025-Q3 EPS reported -$1.32 vs consensus -$0.48 ▼ miss (-174.2%)

Q3 2025 total revenue $32.5M, including $31.3M neffy U.S. net product revenue; net loss $51.2M ($0.52/share).
SG&A expenses $74.8M, driven by DTC campaign; cash position $288.2M, including $100M term loan draw.
Over 18,000 HCPs have prescribed neffy (86% increase from Aug 2025); consumer awareness rose from 20% to 56%.
Japan approval for neffy in Sep 2025; U.K. launch of EUR neffy in Oct 2025; EU approval for 1 mg expected H1 2026.
Phase 2b urticaria trial enrolling; topline data anticipated mid-2026; company targets cash-flow breakeven.

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