ARS Pharmaceuticals, Inc. (SPRY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to ARS Pharmaceuticals conference call. At this time, all participants are in a listen-only mode. After the company's prepared remarks, we will open the line for questions. Please be advised that today's conference is being recorded. I'll now turn the call over to Justin Chokmah, Chief Business Officer. Please go ahead. Good morning, and thank you for joining our third quarter 2025 earnings conference call. With me on the call are Richard Lowenthal, our co-founder, president, and CEO, Eric Paris, our chief commercial officer, and Kathy Scott, our CFO. This morning, we issued a press release detailing financial results and commercial highlights. That press release and the slide presentation, which we'll refer to today during today's call, are available in the investors and media section of our website at ars-pharma.com. Before we begin, please note that today's remarks and slide presentation may contain forward-looking statements. Actual results may differ materially. Please refer to our press release and SEC filings for further risk disclosures. With that, I'll turn the call over to Rich. Thank you, Justin. Good morning, everybody, and thank you for joining us to discuss what has been a pivotal quarter for ARS Pharma, driven by the continued momentum of NAFI in the U.S. and around the world. Third quarter marks a true inflection point for our business. As you can see on slide three, U.S. net product revenue for NEFI grew again quarter over quarter, reaching $31.3 million in Q3, representing a 2.5-fold increase from the prior quarter and exceeding consensus expectations of $28.3 million. This change reflects a strong growth in new patient starts and overall demand for NEFI. Surveys among NEFI users indicate that we can expect durable utilizat...