Ars Pharmaceuticals, Inc. (SPRY)
NASDAQ:SPRY
Earnings Data
Report Date
May 19, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.49Last Year’s EPS
-0.35Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call portrayed solid early commercial traction and meaningful operational progress: first full-year net product revenue of $72.2M, strong aided awareness gains (20% to 60%), >22,500 prescribers with 50% repeat writers, a $245M cash runway, and encouraging real-world effectiveness data (~90% single-dose success). However, growth is constrained by structural market dynamics (refill dominance, e-prescribing, prior authorization), a high gross-to-net impact (~low- to mid-50% range), and substantial SG&A spending ($230.1M) relative to current product revenue. Management outlined concrete mitigation actions—salesforce expansion funded via reallocation, continued DTC/digital conversion (getneffy.com ~10% of scripts), and ongoing payer negotiations—that suggest a pathway to steadier growth and eventual refill-driven renewals in late 2026–2027. Overall, positives around adoption, awareness, cash sufficiency, and product performance slightly outweigh the near-term commercialization and margin headwinds.Company Guidance
First Full Year Commercial Revenue
ARS generated $72.2 million in U.S. net product revenue in 2025 (first full commercial year) and $84.3 million in total revenue (including $9.7M collaboration and $2.4M supply revenue), demonstrating initial commercial traction.
Strong Cash Position
Year-end cash, cash equivalents and short-term investments totaled $245 million, which management states is sufficient to fund U.S. commercial expansion and programs through expected cash-flow breakeven.
Prescriber Adoption and Repeat Writing
More than 22,500 health care providers prescribed neffy by year-end 2025, with ~50% repeat writers and ~80% of prescriptions concentrated in decile 7-10 (high-volume allergists and pediatricians), indicating targeted adoption in priority accounts.
DTC Awareness Lift
Aided brand awareness increased from ~20% pre-campaign to ~60% post-campaign (a +40 percentage-point improvement). Approximately 55% of caregivers/patients recall seeing a neffy advertisement, exceeding industry norms.
Digital Conversion and Get neffy on Us Traction
Getneffy.com has facilitated ~10% of neffy prescriptions and provides virtual visits plus zero co-pay options for eligible commercially insured patients, improving conversion pathways and reducing in-office friction.
Real-World Effectiveness Data
Real-world data from the neffy Experience program showed ~90% of patients experiencing anaphylaxis were effectively treated with a single dose, consistent with injection-based epinephrine results and supporting neffy's safety and effectiveness profile.
Commercial Coverage Expansion
Management reported ~93% overall commercial coverage across plans (inclusive of those that may require prior authorization) and unrestricted Medicaid coverage in 8 states, with ongoing payer discussions to broaden access further.
Operational Plan to Increase Field Intensity
Planned salesforce expansion from 106 to 150 reps (beginning Q2 2026) to increase frequency of engagement in high-volume accounts; expansion funded via reallocation of existing commercial resources and expected to be neutral to 2026 SG&A run rate.
International and Pipeline Progress
International partners advancing regulatory approvals and partner-led launches in Europe, China, Japan and Australia in 2026; Phase IIb program for chronic spontaneous urticaria flares on track with interim data expected H2 2026 and Phase III planned to start mid-2027.
SPRY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SPRY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 09, 2026 | $9.06 | $9.05 | -0.11% |
Nov 10, 2025 | $8.85 | $8.88 | +0.34% |
Aug 13, 2025 | $16.66 | $15.82 | -5.04% |
May 14, 2025 | $13.35 | $12.10 | -9.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ars Pharmaceuticals, Inc. (SPRY) report earnings?
Ars Pharmaceuticals, Inc. (SPRY) is schdueled to report earning on May 19, 2026, After Close (Confirmed).
What is Ars Pharmaceuticals, Inc. (SPRY) earnings time?
Ars Pharmaceuticals, Inc. (SPRY) earnings time is at May 19, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is SPRY EPS forecast?
SPRY EPS forecast for the fiscal quarter 2026 (Q1) is -0.49.