Revolutionary needle-free epinephrine achieves $15.7M quarterly revenue with accelerating market adoption
ARS Pharmaceuticals delivered exceptional Q2 2025 results with $15.7 million in total revenue, including $12.8 million in neffy U.S. net product revenue, demonstrating the strong commercial potential of the world’s first needle-free epinephrine treatment.
Prescription volumes for neffy increased approximately 180% from the end of Q1 to the end of Q2 2025, with commercial coverage reaching 93% as of quarter end. This represents remarkable growth for a product that launched in late September 2024.
Market Breakthrough: neffy (epinephrine nasal spray) addresses a critical unmet need in severe allergic reactions, offering an alternative to traditional EpiPen injections that many patients and caregivers find difficult to use in emergency situations.
The product’s success is driven by expanded payor coverage, a strategic pediatric partnership with ALK-Abelló, and new direct-to-consumer marketing initiatives that are raising awareness among allergic patients and healthcare providers.
Growth Drivers: Key factors contributing to neffy’s rapid adoption include:
- Needle-free delivery addressing injection anxiety and hesitation
- FDA approval for children aged four and older, expanding the addressable market
- Strong commercial coverage reaching 93% of patients
- Co-promotion agreement extending reach to nearly 20,000 healthcare providers
ARS Pharmaceuticals’ revenue jumped 3,040% in Q2 compared to the prior year, reflecting the transformative impact of neffy’s commercial launch on the company’s financial profile.
Future Outlook: With a substantial cash position and accelerating prescription growth, ARS is well-positioned to continue expanding neffy’s market penetration while exploring additional indications and geographic markets for its needle-free delivery platform.
