SAN DIEGO - ARS Pharmaceuticals, Inc. (NASDAQ: SPRY), a biopharmaceutical company, has announced the availability of neffy® (epinephrine nasal spray) by prescription across the United States. The FDA approved neffy 2 mg last month for treating Type I Allergic Reactions, including anaphylaxis, in individuals over 30 kg (66 lbs.).
Through neffyConnect and a collaboration with BlinkRx, an online pharmacy, eligible commercially insured patients can obtain two single-use neffy devices for a co-pay of $25. For those without insurance or whose plans do not cover neffy, the company offers a cash price of $199 for two devices. Patients qualifying for the ARS Patient Assistance Program can receive neffy free of charge.
National retail pharmacies will stock neffy, and patients can download a $25 co-pay savings card from neffy.com. The company is also providing free carrying cases for the devices.
neffy represents the first needle-free epinephrine treatment option for severe allergic reactions. According to Eric Karas, ARS Pharmaceuticals' chief commercial officer, the launch marks a significant development for both the company and the severe allergy community.
Dr. Carlos Camargo of Massachusetts General Hospital and Harvard Medical School has endorsed the new treatment, noting its potential to improve clinical outcomes and reduce emergency room visits due to its ease of use compared to traditional epinephrine auto-injectors.
ARS Pharmaceuticals aims to expand access to neffy internationally, with EURneffy (the trade name for neffy in the EU) expected to be available in certain EU Member States by Q4 2024 following European Commission approval. Additionally, the company has submitted a supplemental New Drug Application to the FDA for neffy 1 mg, targeting pediatric patients weighing 15 to 30 kg (33 to 66 lbs.).
The introduction of neffy is based on a press release statement from ARS Pharmaceuticals.
In other recent news, ARS Pharmaceuticals has made significant strides in the medical field with the FDA approval of Neffy, a needle-free epinephrine treatment for Type I Allergic Reactions. The company has also submitted a supplemental New Drug Application for neffy 1 mg, aimed at addressing needle fear in children. On the financial front, Cantor Fitzgerald initiated coverage of ARS Pharmaceuticals with an Overweight rating, indicating a positive outlook on the company's potential.
The European Commission has approved EURneffy, the first needle-free adrenaline nasal spray for emergency treatment of severe allergic reactions in the European Union, marking a significant milestone in allergy treatment. The product's patents in Europe are valid until 2039, and it will benefit from an eight-year data protection period in the EU.
These are recent developments in the company's operations. ARS Pharmaceuticals continues to innovate in the field of allergy treatment, with its products receiving positive feedback from both the FDA and European Medicines Agency's Committee for Medicinal Products for Human Use. The company's shareholders elected three Class I directors and ratified Ernst & Young LLP as the independent auditor for the current fiscal year, further solidifying the company's governance structure.
InvestingPro Insights
ARS Pharmaceuticals, Inc. (NASDAQ: SPRY) is making waves in the healthcare sector with the introduction of neffy®, a needle-free epinephrine treatment. As the company expands its reach, investors and stakeholders are keenly observing its financial health and market performance. According to InvestingPro data, SPRY holds a market capitalization of approximately $1.43 billion. Despite the challenges of being a biopharmaceutical company in a competitive market, SPRY has demonstrated a remarkable revenue growth rate of 128.31% over the last twelve months as of Q2 2024. This growth is further underscored by a quarterly revenue increase of 4900% in Q2 2024.
InvestingPro Tips highlight that analysts expect sales growth in the current year, indicating a positive outlook for the company's financial trajectory. Additionally, SPRY's strong performance is reflected in its price total returns, with a one-year return of 272.98%, showcasing significant investor confidence. However, it's important to note that SPRY is not currently profitable, with a negative operating income margin and a P/E ratio of -31.82, suggesting that the company is still in a growth phase where it is prioritizing expansion and market penetration over immediate profits.
For those interested in deeper financial analysis and additional InvestingPro Tips, there are 15 more tips available that provide insights into SPRY's cash position, debt management, and valuation multiples. These tips can be accessed by visiting the dedicated InvestingPro page for ARS Pharmaceuticals, Inc. at https://www.investing.com/pro/SPRY.
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