SPRY call is here: $14.08 ARS Pharmaceuticals, Inc. (SPRY) - TIKR Terminal
From a news release:
neffy was first available for shipment on September 23, 2024, and in early October, the U.S. sales force started in the field and neffy became broadly available in retail pharmacies.
Launch to date:
- More than 5,700 healthcare providers had been reached by the neffy sales force
- More than 1,700 healthcare providers submitted a prescription for neffy, using BlinkRx through neffyConnect, a service that provides patients access and co-pay support, as well as free at-home delivery;
- Of the physicians who prescribed neffy, 80% were in the highest decile category;
- More than 1,000 allergists enrolled in the neffy Experience Program, which enables physicians to administer neffy during their in-clinic allergy food challenges; and,
- Product presentations and contract discussions with several of the key payors are underway, with initial coverage decisions expected by yearend.
- Third Quarter 2024 Financial Results
- Revenue: Total revenue was $2.1 million for the quarter ended September 30, 2024, comprised of $0.6 million in net product revenue for neffy sales, which reflects revenues from only one week following product launch in late September, and $1.5 million in collaboration revenue for the same period.
- Research and Development (R&D) Expenses: R&D expenses were $4.4 million for the quarter ended September 30, 2024, the majority of which is comprised of product manufacturing costs prior to the commercial launch of neffy, other product development costs, and compensation costs.
- Selling, General and Administrative (SG&A) Expenses: SG&A expenses were $19.3 million for the quarter ended September 30, 2024, which is mainly comprised of personnel expenses and costs associated with starting the commercial launch of neffy.
- Net Loss: Net loss was $19.1 million for the quarter ended September 30, 2024.
- Cash Position: Cash, cash equivalents and short-term investments were $204.6 million as of September 30, 2024. On a pro-forma basis, the Company’s cash, cash equivalents and short-term investments balance was $349.6 million, adjusted for the $145 million upfront payment from ALK-Abelló in conjunction with the November 2024 licensing agreement. ARS Pharmaceuticals expects its capital to be sufficient to fund its current operating plan for at least three years.
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