04:46 PM EDT, 09/29/2025 (MT Newswires) -- ARS Pharmaceuticals ( SPRY ) said Monday it has obtained a senior secured term loan facility of up to $250 million with an affiliate of RA Capital Management, its largest shareholder, and an affiliate of OMERS Life Sciences as lenders.

ARS has borrowed an initial $100 million that will be mainly used to boost Neffy's commercial growth in the US, the company said, adding funds will also back marketing and medical projects to produce evidence about Neffy's effectiveness.

After the initial loan is funded, a $25 million delayed draw term loan will be available between six and 12 months from the closing date, a $25 million delayed draw term loan will be available for 18 months following the closing date and subject to reaching trailing 12-month net US revenue of $100 million, and an uncommitted $100 million incremental term loan will be available if the lenders agree to provide additional loans, ARS said.

Proceeds will be used for commercial execution and general corporate purposes, ARS said.

The company's shares were up 1.8% in after-hours activity.