Overview

* ARS Pharmaceuticals Q3 2025 revenue at $32.5 mln, driven by neffy U.S. sales

* Net loss for Q3 2025 was $51.2 mln, reflecting high SG&A expenses

* Company holds $288.2 mln in cash and investments, funding operations to cash-flow break-even

Outlook

* Company expects unrestricted payor access with gross-to-net retention of at least 50%

* ARS Pharma anticipates regulatory approvals in Canada and China in 2026

* Company expects cash reserves to fund operations through cash-flow break-even

Result Drivers

* DTC CAMPAIGNS - Direct-to-consumer investments increased patient awareness and prescriber confidence in neffy

* SG&A EXPENSES - for the third quarter of 2025 were $74.8 million, reflecting the company's substantial investment in the national DTC marketing campaign

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$0.52

Q3 Net -$51.15

Income mln

Q3 Cash $288.20

& mln

Investme

nts

Q3 $85.69

Operatin mln

g

Expenses

Q3 -$53.19

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy."

* Wall Street's median 12-month price target for ARS Pharmaceuticals Inc ( SPRY ) is $30.00, about 70.5% above its November 7 closing price of $8.85

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)