Latest revenue
$22.7M
as of 2026-03-31
Latest net income
$-60.6M
as of 2026-03-31
Net margin
-267.3%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $788.5M
- Enterprise value
- $788.5M
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $18.90
- 52-wk low
- $6.66
- Beta
- —
- Shares out
- 99.3M
5-year trend
What this company does
Item 1. Business. As used in this Annual Report, unless the context indicates or otherwise requires, “ARS,” “ARS Pharma,” the “company,” “we,” “us,” “our,” and other similar terms refer to ARS Pharmaceuticals, Inc., a Delaware corporation and its consolidated subsidiaries. neffy and EURneffy are trademarks of ours that we use in this Annual Report. This Annual Report also includes trademarks, trade names, and service marks that are the property of other organizations. Solely for convenience, our trademarks and trade names referred to in this Annual Report appear without the ® or ™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest…
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Generated from SPRY's filing dated 2026-03-09
Key risks
Item 1A. Risk Factors We operate in a dynamic and rapidly changing environment that involves numerous risks and uncertainties. Certain factors may have a material adverse effect on our business, financial condition and results of operations, and you should carefully consider them. Accordingly, in evaluating our business, we encourage you to consider the following discussion of risk factors, in its entirety, in addition to other information contained in this Annual Report and our other public filings with the SEC. Other events that we do not currently anticipate or that we currently deem immaterial may also affect our results of operations and financial condition. Risks Related to Our…
AI summary unavailable — showing raw filing excerpt
Generated from SPRY's filing dated 2026-03-09
Profitability
Operating margin
-212.9%
6057.0%Net margin
-203.3%
2365.5%Return on equity
-149.9%
4913.7%Return on assets
-52.3%
2395.4%Leverage
Debt / equity
1.87×
408.3%Long-term debt / equity
0.84×
Debt / assets
65.1%
142.4%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $22.7M | +184.5% | $-60.6M | -78.6% | -267.3% |
Q4 2025 2025-12-31 | $28.1M | -67.6% | $-41.3M | -182.8% | -147.1% |
Q3 2025 2025-09-30 | $32.5M | +1471.6% | $-51.2M | -167.4% | -157.4% |
Q2 2025 2025-06-30 | $15.7M | +3043.4% | $-44.9M | -258.6% | -285.6% |
Q1 2025 2025-03-31 | $8.0M | — | $-33.9M | -229.8% | -425.7% |
Q4 2024 2024-12-31 | $86.6M | — | $49.9M | — | 57.7% |
Q3 2024 2024-09-30 | $2.1M | — | $-19.1M | -28.7% | -925.0% |
Q2 2024 2024-06-30 | $500.0K | +4900.0% | $-12.5M | +27.9% | -2503.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Pharmaceutical Preparations · SIC 2834
Your notes
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Insider activity
Insider buying
$0
Insider selling
$17.4M
Net activity
−$17.4M
Distinct insiders
7
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns SPRY
Institutional value
$200.0M
Total shares held
26.9M
Distinct holders
114
-76 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 5.0M | $40.2M | -73.1K (-1.4%) | Trimmed |
| 2 | abrdn plc | 4.1M | $33.0M | +557.6K (+15.7%) | Added |
| 3 | FRANKLIN RESOURCES INC | 3.3M | $26.3M | +735.5K (+28.9%) | Added |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 2.5M | $20.4M | — | New |
| 5 | UBS Group AG | 2.3M | $18.2M | +49.5K (+2.2%) | Added |
| 6 | GENERAL AMERICAN INVESTORS CO INC | 727.2K | $5.8M | +167.2K (+29.9%) | Added |
| 7 | LEVIN CAPITAL STRATEGIES, L.P. | 552.6K | $4.4M | -194.9K (-26.1%) | Trimmed |
| 8 | VANGUARD PORTFOLIO MANAGEMENT LLC | 510.6K | $4.1M | — | New |
| 9 | Empire Life Investments Inc. | 499.1K | $4.0M | +146.5K (+41.6%) | Added |
| 10 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 464.7K | $3.7M | +160.2K (+52.6%) | Added |
| 11 | VANGUARD FIDUCIARY TRUST CO | 446.3K | $3.6M | — | New |
| 12 | FIRST TRUST ADVISORS LP | 422.0K | $3.4M | — | New |
| 13 | JPMORGAN CHASE & CO | 382.8K | $3.0M | -34.3K (-8.2%) | Trimmed |
| 14 | INVESTMENT MANAGEMENT ASSOCIATES INC /ADV | 359.1K | $2.9M | +47.6K (+15.3%) | Added |
| 15 | CenterBook Partners LP | 291.2K | $2.3M | -277.2K (-48.8%) | Trimmed |
| 16 | AMERICAN ASSETS INC | 7.0K | $1.7M | -48.0K (-87.3%) | Trimmed |
| 17 | Tejara Capital Ltd | 210.4K | $1.7M | — | New |
| 18 | DIMENSIONAL FUND ADVISORS LP | 172.3K | $1.4M | -3.8K (-2.1%) | Trimmed |
| 19 | LANDSCAPE CAPITAL MANAGEMENT, L.L.C. | 168.8K | $1.4M | — | New |
| 20 | Bank of New York Mellon Corp | 164.1K | $1.3M | +1.1K (+0.6%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
Coming once SPRY's latest filing finishes processing.