Every 10-Q that ARS Pharmaceuticals, Inc. (SPRY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SPRY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SPRY filings page.
ARS Pharmaceuticals, Inc. reported strong top-line growth but significantly higher losses for the quarter and six months ended June 30, 2026. Total revenue for the quarter rose to $33.7 million from $15.7 million a year earlier, driven mainly by higher net product revenue from neffy and increased supply revenue. For the first half of 2026, revenue was $56.3 million versus $23.7 million in 2025.
Operating expenses expanded sharply, with selling, general and administrative costs of $77.6 million in the quarter and $149.8 million year‑to‑date, including advertising spend of $31.0 million and $67.4 million, respectively. The company posted a quarterly net loss of $62.3 million and a six‑month net loss of $123.0 million, both wider than in 2025, and used $105.9 million of cash in operating activities in the first half.
As of June 30, 2026, ARS held $143.8 million in cash, cash equivalents and short‑term investments, term loans of $96.7 million, and a financing liability of $74.9 million related to its ALK collaboration. Management states that existing liquidity is sufficient to meet anticipated cash requirements for at least 12 months after issuance of the financial statements, while the business remains highly dependent on the commercialization of neffy and on key collaboration agreements.
ARS Pharmaceuticals reported much higher early 2026 sales but a larger loss as it ramps up commercialization of neffy, its needle-free intranasal epinephrine. Total revenue for the three months ended March 31, 2026 was $22.7 million, up from $8.0 million a year earlier, driven mainly by $17.5 million of net product revenue plus collaboration and supply revenue.
Operating expenses rose sharply as the company invested in launch and growth, with selling, general and administrative costs increasing to $72.2 million from $41.1 million. Net loss widened to $60.6 million, or $0.61 per share, compared with $33.9 million, or $0.35 per share. As of March 31, 2026, ARS held $201.0 million in cash, cash equivalents and short-term investments, and management states this is sufficient to meet anticipated needs for at least 12 months while it continues building the neffy franchise and advancing global partnerships.
ARS Pharmaceuticals (SPRY) reported Q3 2025 results with neffy momentum driving higher sales but widening losses. Product revenue, net was $31,300 (in thousands) versus $568 (in thousands) a year ago, lifting total revenue to $32,501 (in thousands) from $2,068 (in thousands).
Spending scaled with launch activity: cost of goods sold was $8,191 (in thousands), R&D $2,751 (in thousands), and SG&A $74,751 (in thousands). The quarter’s net loss was $(51,151) (in thousands), or $(0.52) per share. Cash, cash equivalents, and short‑term investments totaled $288.2 million as of September 30, 2025, supported by new term debt; term loans, net were $96,229 (in thousands) and a financing liability was $72,044 (in thousands).
The company transitioned in August 2025 from a title model to direct sales, recognizing revenue upon delivery and title transfer to wholesalers and pharmacies. Shares outstanding were 98,848,611 as of November 6, 2025.
ARS Pharmaceuticals is a biopharmaceutical company commercializing neffy, the first FDA- and European Commission-approved needle-free intranasal epinephrine product, which launched commercially in September 2024. For the quarter ended June 30, 2025 the company reported product revenue of $12.8 million and total revenue of $15.7 million, up from $0.5 million in the year-ago quarter due to initial commercial sales and collaboration revenue.
The company reported a net loss of $44.9 million for the quarter and $78.8 million for the six months, driven by operating expenses of $63.3 million in Q2, including $54.3 million of selling, general and administrative costs. As of June 30, 2025 ARS held $51.5 million in cash and $188.6 million in short-term investments (totaling about $240.1 million), which management states is sufficient to meet anticipated cash requirements for at least the next 12 months. Significant collaboration activity includes a $145.0 million upfront from ALK and a $5.0 million milestone earned on first commercial sale in the ALK territory.