ARS Pharmaceuticals (NASDAQ:SPRY) reported first-quarter 2026 revenue of $22.7 million as executives said the company is working to expand access, reduce prescribing friction and build momentum for neffy, its needle-free epinephrine treatment for allergic reactions including…
aphylaxis. Co-founder, President and Chief Executive Officer Richard Lowenthal said the company generated $17.5 million in U.S. net product revenue for neffy during the quarter, with prescription volume tripling year over year and revenue more than doubling
He characterized the quarter as a “strong start” to 2026, particularly because the first two months of the year are typically the lowest-volume period for epinephrine products due to the reset of health insurance deductibles. Lowenthal said ARS is focused on three priorities for neffy: access, affordability and adoption. He noted that epinephrine is a mature, refill-driven market, with about half of prescriptions typically coming from renewals that may be written electronically without an office visit.
As a newer entrant, neffy has relied more heavily on new in-office prescriptions, but Lowenthal said improved payer access, reduced prescribing friction and the maturation of refill cycles should support more scalable growth over time. Access Efforts Center on Prior Authorization Lowenthal said ARS ended the first quarter with about 90% commercial coverage for neffy, with 57% of covered lives having access without prior authorization. He said the company views prior authorization requirements and misperceptions about out-of-pocket costs as key barriers to prescriber adoption.