---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-273107"
form_type: "8-K"
ticker: "SPRY"
cik: "0001671858"
company_name: "ARS Pharmaceuticals, Inc."
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:27:17.627056+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-273107
- form_type: 8-K
- ticker: SPRY
- cik: 0001671858
- company_name: ARS Pharmaceuticals, Inc.
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1671858/000119312525273107/0001193125-25-273107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1671858/000119312525273107/spry-20251110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-273107
- JSON: https://secwatch.observer/filing/0001193125-25-273107.json
- Plain text: https://secwatch.observer/filing/0001193125-25-273107.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.