ARS Pharmaceuticals Inc (NASDAQ:SPRY) stock fell 10.06% (As on March 21, 11:24:59 AM UTC-4, Source: Google Finance) after the company reported net income for the fourth quarter of 2024 of $49.9 million. As of December 31, 2024, ARS Pharma had cash, cash equivalents, and short-term investments of $-314.0 million, with 97,954,172 shares of common stock outstanding. The company reiterates its guidance that its financial position is expected to support its operating plans for at least the next three years.

Meanwhile, the company provided highlights on the U.S. commercial launch of neffy, the first and only needle-free epinephrine emergency treatment for Type I allergic reactions, including anaphylaxis, as well as recent business updates. On March 5, 2025, the U.S. FDA approved ARS Pharma’s sNDA for neffy 1 mg as an emergency treatment for Type I allergic reactions, including anaphylaxis, in children aged four and older and weighing 15 kilograms to < 30 kilograms (33 to <66 lb.). neffy 1 mg is expected to be available in pharmacies starting in May 2025. ARS Pharma plans to initiate a post-marketing registry-based study of neffy for the treatment of anaphylaxis in oral food challenge or allergen immunotherapy clinics in April 2025. ARS Pharma plans to initiate a Phase 2b clinical trial in the second quarter of 2025 to evaluate its intranasal epinephrine technology as a treatment for acute flares in patients with chronic spontaneous urticaria, a prevalent skin disease affecting approximately 2 million people in the U.S. The trial is expected to enroll patients in the U.S. and Europe, with topline data anticipated in early 2026.

SPRY in the fourth quarter of FY24 has reported the adjusted earnings per share of 52 cents, beating the analysts’ estimates for the adjusted loss per share of 4 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 35.9 percent to $86.58 million in the fourth quarter of FY24, beating the analysts’ estimates for revenue by 273.26%.

ARS Pharma projects to receive cash proceeds from milestone payments by ALK of approximately $5 million in both the second and fourth quarters of 2025. In accordance with GAAP, for cash payments under the terms of the ALK agreement, approximately half of the projected milestone payments would be recognized as revenue, and the remainder would be added to the financing liability on the company’s balance sheet.