---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-097467"
form_type: "8-K"
ticker: "SPRY"
cik: "0001671858"
company_name: "ARS Pharmaceuticals, Inc."
filed_at: "2026-03-09T23:59:59+00:00"
generated_at: "2026-05-15T17:54:47.766673+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ARS Pharma reports $72.2M neffy sales in first full year; net loss $171.3M

## Summary
- Full-year U.S. neffy net product revenue $72.2M; total revenue $84.3M including $9.7M partner revenue.
- FY 2025 net loss $171.3M ($1.74/sh); Q4 net loss $41.3M ($0.42/sh).
- Cash $245.0M at Dec 31, 2025; expects to fund operations through cash-flow break-even.
- Sales force to expand from 106 to 150 in Q2 2026; >22,500 HCPs prescribed neffy, 50% repeat.
- Phase 2b CSU trial interim data H2 2026; Canada approval expected Q2 2026 with ALK.

## SEC filing metadata
- accession: 0001193125-26-097467
- form_type: 8-K
- ticker: SPRY
- cik: 0001671858
- company_name: ARS Pharmaceuticals, Inc.
- filed_at: 2026-03-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1671858/000119312526097467/0001193125-26-097467-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1671858/000119312526097467/spry-20260309.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-097467
- JSON: https://secwatch.observer/filing/0001193125-26-097467.json
- Plain text: https://secwatch.observer/filing/0001193125-26-097467.txt

## Key facts
- Earnings Releases
  ARS Pharmaceuticals, Inc. reported financial results for quarter and year ended December 31, 2025.
  - Period: quarter and year ended December 31, 2025
  - Result: reported results
  source text: On March 9, 2026, ARS Pharmaceuticals, Inc. (the “Company”) announced its financial results for the quarter and year ended December 31, 2025 in the press release attached hereto as Exhibit 99.1 and incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1671858/000119312526097467/0001193125-26-097467-index.htm

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