Short answer
ARS Pharmaceuticals, Inc. (SPRY) filed its Q1 2026 10-Q quarterly report on May 15, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $23M (up 184.5% year over year) with net income of −$61M.
Q1 2026 key financials · XBRL
- Revenue
- $23M
- +184.5% YoY
- Net income
- −$61M
- −78.6% YoY
- Operating margin
- -265.2%
- EPS (diluted)
- −$0.61
- −74.3% YoY
Source: XBRL data from the ARS Pharmaceuticals, Inc. (SPRY) Q1 2026 10-Q on SEC EDGAR. USD.
ARS Pharmaceuticals, Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Segment or product-line performance not provided; neffy identified as core commercial product
- Cash position, operating cash flow, and capital deployment not provided
- Outlook: neffy commercialization, market acceptance, coverage, competition, funding needs, and regulatory timing as key uncertainties
Risk Factors
- New generic-competition trigger: Cipla filed ANDAs for neffy 1 mg and 2 mg in March 2026, prompting April 2026 patent litigation
- Most material update: Lupin’s February 2026 paragraph IV notice added an ANDA for neffy 1 mg alongside its August 2025 2 mg filing
- Regulatory and legal exposure: Lupin and Cipla lawsuits could impose costly, time-consuming litigation with unpredictable outcomes
- Near-term commercial risk: neffy remains the company’s only approved product and depends on physician, patient, and payor adoption
- Financial risk: Generic entry could significantly reduce branded neffy sales through lower-priced pharmacy substitution
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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