ARS Pharmaceuticals, Inc. is a biopharmaceutical company focused on the commercialization and development of neffy a needle free intranasal epinephrine spray for the emergency treatment of type I allergic reactions including anaphylaxis. The product uses a proprietary formulation of epinephrine combined with the absorption enhancer Intravail to enable low dose nasal delivery that matches the exposure of injectable epinephrine. neffy 2 mg is approved for adults and children weighing 30 kg or more while neffy 1 mg is approved for children aged 4 years and older who weigh between 15 kg and 30 kg. The therapy has received regulatory approval in the United States the European Union the United Kingdom Japan Australia and China and is under review by Health Canada with a decision expected in 2026. It represents the first approved needle free epinephrine therapy in more than three decades.

Revenue is generated primarily from the sale of neffy to wholesalers and pharmacies as well as from milestone payments and royalties under collaboration agreements with partners such as Alfresa Pediatrix Seqirus and ALK. The company also receives upfront payments and sales based milestones from these agreements which contribute to its overall income. In the United States ARS Pharmaceuticals maintains a direct sales force of 106 representatives targeting high volume prescribers and a co promotion team of approximately 70 representatives working with ALK US to reach pediatricians. The firm supports its sales effort with a direct to consumer marketing campaign that includes streaming television broadcast and cable advertising as well as digital channels and disease awareness initiatives. Additionally the company operates a virtual prescriber platform getneffy.com that allows patients to obtain a prescription online and has launched disease education programs with advocacy groups.

The company operates in a market dominated by epinephrine auto injectors such as EpiPen from Viatris and its generic equivalents from Teva as well as Adrenaclick Auvi Q and Symjepi. ARS Pharmaceuticals differentiates itself with its needle free delivery system which eliminates needle related pain and improves ease of use and portability. Being the first approved nasal spray epinephrine product gives the company a first mover advantage and a protected intellectual property portfolio extending to 2038. Clinical studies show that neffy delivers comparable pharmacodynamic responses to injectable epinephrine with similar reductions in systolic blood pressure and heart rate during allergic reactions. Real world data from the neffy experience program indicated that approximately 90% of patients treated with a single dose during anaphylaxis event achieved symptom control matching the efficacy of traditional injection. The product also avoids needle associated risks such as accidental injection into blood vessels lacerations or caregiver self injury which are reported with auto injector use.

The company serves patients who experience severe allergic reactions and their caregivers as well as healthcare providers including allergists pediatricians and primary care physicians who prescribe the product. Distribution occurs through pharmaceutical wholesalers and retail pharmacies that stock the medication for patient access. As of February 2026 more than 22,500 physicians had prescribed neffy since its launch indicating a growing base of clinical adopters. The firm reports that approximately 93% of commercial insurance plans provide some level of coverage for neffy while 57% offer coverage without prior authorization and eight of 50 state Medicaid programs cover the drug without prior authorization. These coverage statistics help drive patient access and support the commercial rollout in the United States.