ARS Pharmaceuticals, Inc.
Business
ARS Pharmaceuticals is a biopharmaceutical company commercializing neffy, the first FDA and EC-approved needle-free intranasal epinephrine product for emergency treatment of Type I allergic reactions and anaphylaxis. The company markets neffy in approved doses (2 mg and 1 mg) through a direct U.S. sales force, co-promotion partnership, virtual prescriber platform, and direct-to-consumer channels; neffy is also commercialized internationally through licensing partnerships with Alfresa (Japan), Pediatrix (China), Seqirus (Australia/New Zealand), and ALK (Canada, EU, UK, and other territories). ARS is also developing neffy for chronic urticaria indications through clinical trials.
Summary from 10-K filed 2026-03-09
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 84 | 89 | 30,000 | 1 | 6 | |
| Cost of goods sold (including related party amounts of $4,781 and $241, respectively) | 20 | 977,000 | 0 | — | — | |
| Research and development (including related party amounts of $2,255 and $2,066, respectively) | 13 | 20 | 20 | 18 | 20 | |
| Selling, general and administrative (including related party amounts of $475 and $465, respectively) | 230 | 72 | 47 | 603,000 | — | |
| Total operating expenses | 264 | 92 | 68 | 37 | 25 | |
| Loss from operations | −179 | −3 | −68 | −36 | −19 | |
| Interest income | 11 | 11 | — | — | — | |
| Interest expense (including related party amounts of $130 and $0, respectively) | −3 | 0 | — | — | — | |
| Total other income, net | 8 | 11 | 13 | 974,000 | −789,000 | |
| (Loss) income before income tax (benefit) expense | −171 | 8 | −54 | — | — | |
| Income tax (benefit) expense | −80,000 | 288,000 | 0 | — | — | |
| Net (loss) income | −171 | 8 | −54 | −35 | −20 | |
| Unrealized (losses) gains on available-for-sale securities | −95,000 | 171,000 | −358,000 | 407,000 | 0 | |
| Comprehensive (loss) income | −171 | 8 | −55 | −34 | −20 | |
| Net (loss) income per share, basic | −1.74 | 0.08 | −0.57 | −0.87 | −0.7 | |
| Net income (loss) per share, Diluted | −1.74 | 0.08 | −0.57 | −0.87 | −0.7 | |
| Weighted- average common shares outstanding, basic | 99 | 97 | 95 | 40 | 29 | |
| Weighted Average Number of Shares Outstanding, Diluted | 99 | 102 | 95 | 40 | 29 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 41 | 51 | 71 | 211 | 60 | |
| Short-term investments | 204 | 263 | 157 | 64 | 0 | |
| Accounts receivable, net | 25 | 8 | 0 | — | — | |
| Inventories | 8 | 5 | — | — | — | |
| Prepaid expenses and other current assets | 6 | 7 | 3 | 3 | 667,000 | |
| Total current assets | 285 | 334 | 232 | 278 | 61 | |
| Inventories, noncurrent | 23 | 5 | 0 | — | — | |
| Property, plant and equipment, net | 2 | 1 | 574,000 | 329,000 | 72,000 | |
| Intangible assets, net | 14 | 7 | 0 | — | — | |
| Other assets | 3 | 3 | 638,000 | 3 | 23,000 | |
| Total assets | 328 | 351 | 233 | 281 | 61 | |
| Accounts payable and accrued liabilities (including related party amounts of $1,624 and $656, respectively) | 38 | 23 | 2 | 5 | 3 | |
| Contract liability, current | 609,000 | 557,000 | 0 | 283,000 | 1 | |
| Other current liabilities | 588,000 | 42,000 | — | — | — | |
| Total current liabilities | 39 | 23 | 2 | 5 | 8 | |
| Term loans, net (including related party amounts of $4,819 and $0, respectively) | 96 | 0 | — | — | — | |
| Financing liability | 72 | 69 | 0 | — | — | |
| Contract liability, net of current portion | 1 | 2 | 0 | 3 | 3 | |
| Other accrued liabilities | 5 | 0 | — | — | — | |
| Total liabilities | 213 | 94 | 2 | 9 | 17 | |
| Commitments and contingencies (Note 10) | — | — | — | — | — | |
| Preferred Stock, $0.0001 par value per share; 10,000,000 shares authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value per share; 200,000,000 shares authorized at December 31, 2025 and 2024; 99,290,926 and 97,954,172 shares issued and outstanding at December 31, 2025 and 2024, respectively | 10,000 | 10,000 | 10,000 | 9,000 | 3,000 | |
| Additional paid-in capital | 409 | 380 | 362 | 349 | 11 | |
| Accumulated other comprehensive gain, net | 125,000 | 220,000 | 49,000 | 407,000 | 0 | |
| Accumulated deficit | −295 | −123 | −131 | −77 | −42 | |
| Total stockholders' equity | 114 | 257 | 231 | 273 | −31 | |
| Total liabilities and stockholders' equity | 328 | 351 | 233 | 281 | 61 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation expense | 22 | 15 | 9 | 6 | 3 | |
| Provision for inventory reserve | 2 | 0 | — | — | — | |
| Depreciation and amortization expense | 1 | 79,000 | — | — | — | |
| Accretion on investments, net of amortization | −6 | −7 | — | — | — | |
| Other non-cash items | 337,000 | 0 | — | — | — | |
| Accounts receivable | −17 | −8 | 0 | — | — | |
| Inventories | −22 | −6 | 0 | — | — | |
| Prepaid expenses and other assets | 656,000 | −6 | −1 | −1 | 1 | |
| Accounts payable and accrued liabilities | 19 | 16 | −3 | −10 | 974,000 | |
| Contract liability | −350,000 | 2 | −3 | −1 | −3 | |
| Net cash and cash equivalents (used in) provided by operating activities | −171 | 14 | −59 | −40 | −18 | |
| Purchases of short-term investments, available-for-sale | −242 | −356 | −272 | 0 | 0 | |
| Maturities of short-term investments, available-for-sale | 307 | 258 | 185 | 0 | — | |
| Payments of milestone obligations under license agreements | −8 | −8 | 0 | — | — | |
| Purchases of property and equipment | −339,000 | −563,000 | −175,000 | −199,000 | −55,000 | |
| Net cash and cash equivalents provided by (used in) investing activities | 57 | −106 | −87 | −199,000 | −55,000 | |
| Proceeds from term loan, net of issuance costs | 96 | 0 | — | — | — | |
| Proceeds from exercise of common stock options and issuance of common stock under the employee stock purchase plan | 6 | 3 | 7 | 570,000 | 169,000 | |
| Proceeds from milestone obligations met under license agreements recognized as an increase to the financing liability | 3 | 69 | — | — | — | |
| Net cash and cash equivalents provided by financing activities | 105 | 72 | 7 | 191 | 53 | |
| Net decrease in cash and cash equivalents | −10 | −20 | −140 | 150 | 36 | |
| Cash paid for interest | 2 | 0 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is ARS Pharmaceuticals, Inc.'s CIK number?
ARS Pharmaceuticals, Inc.'s SEC CIK number is 0001671858 (1671858). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find ARS Pharmaceuticals, Inc.'s SEC filings?
All of ARS Pharmaceuticals, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did ARS Pharmaceuticals, Inc. last report earnings?
ARS Pharmaceuticals, Inc. (SPRY) most recently filed an earnings 8-K with the SEC on May 15, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-225055). This is ARS Pharmaceuticals, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is ARS Pharmaceuticals, Inc.'s most recent earnings 8-K?
ARS Pharmaceuticals, Inc.'s latest earnings 8-K (Item 2.02) was filed May 15, 2026 under accession 0001193125-26-225055. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View ARS Pharmaceuticals, Inc.'s latest earnings 8-K →
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