Popular
SPRY · Medicine & biotech · U.S.

ARS Pharma

Makes neffy, a needle-free nose spray for severe allergic reactions.

Company Health

31
/100
Weak
A quick check of the business from its yearly reports (2022–2025). It doesn’t say whether the stock is a good buy.
Does it make money?
0 of 25 · Poor
It lost money last year: $203 of every $100 in sales.
Is it growing?
25 of 25 · Good
Sales grew about 300% a year over the last 3 years.
Can it handle what it owes?
6 of 25 · Poor
Its business used cash last year, and it owes $65 of every $100 it owns.
Does it bring in spare cash?
0 of 25 · Poor
It spent more cash than it brought in: $203 of every $100 in sales.

Who owns it

1 of 23 own it · Nobody changed their stake
bought lately
owns it
doesn’t own it
Didn’t report owning it: Whale Rock, Appaloosa, Melqart, Coatue, D1 Capital, Light Street, Lone Pine, TCI, Pershing Square, Duquesne, Himalaya Capital, Greenlight, Giverny Capital, Fundsmith, Semper Augustus, Akre
Their letters don’t mention it: Arquitos, Laughing Water, Alluvial, Bireme, Kingdom Capital, Saga Partners
From each fund’s latest 13F report (Jun 30, 2026). Funds that don’t file one: from their own letters.

The numbers

From ARS Pharma’s yearly reports. Tap a year to see its figures.

Sales and profit

Sales grew from $5.51 million in 2021 to $84.3 million in 2025, and it made a profit in 1 of the 6 years.
2025
Sales
$84.3 million
Loss
$171 million

Spare cash each year

It had cash to spare in 1 of the 6 years, but in 2025 it spent $171 million more than it brought in.
2025
Cash shortfall
$171 million
Spare cash is the cash its business brought in, minus what it spent on buildings and equipment.

What it owns and what it owes

At the end of 2025 it owned $328 million, including $41.3 million in cash, and owed $213 million.

Key facts

From its yearly report for 2025.
Sales
$84.3 million
Loss
$171 million
Cash shortfall
$171 million
Cash in the bank
$41.3 million
Everything it owes
$213 million
Year ends
December
Money shown in
U.S. dollars
Latest yearly report
10-K, filed Mar 9, 2026
Figures from ARS Pharma’s yearly reports to the SEC (EDGAR), collected Oct 12, 2026.
Not investment advice. Holdings come from public SEC reports and the funds’ own letters, and can be up to 4½ months old. How this works
Privacy policy