ARS Pharmaceuticals Inc (NASDAQ:SPRY) shares surged 9.44% in pre-market trading on Thursday following the release of its fourth quarter and full-year 2024 financial results, which significantly exceeded analyst expectations.
The biopharmaceutical company, known for its needle-free epinephrine nasal spray neffy, reported a quarterly earnings per share of $0.48, dramatically outperforming the analyst consensus estimate of $(0.14). This represents a 442.86% beat and a substantial improvement from the $(0.07) loss per share in the same quarter last year. Revenue for Q4 2024 came in at $86.60 million, surpassing the analyst estimate of $15.82 million by an impressive 447.48%.
The strong financial performance was bolstered by several positive business updates. ARS Pharmaceuticals reported $7.3 million in total neffy U.S. net product revenue for 2024 since its launch in late September. The company also announced FDA approval for neffy 1 mg for younger children, expanding its market reach. Furthermore, ARS Pharmaceuticals highlighted its strong cash position of $314.0 million at year-end 2024, which it expects will support increased commercialization efforts in 2025 while maintaining an operating runway of at least three years. These factors, combined with ongoing positive developments in physician adoption, patient feedback, and payer coverage, have contributed to investor enthusiasm and the significant pre-market stock price increase.
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