ARS Pharmaceuticals, Inc. (SPRY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to ARS Pharmaceuticals' fourth quarter and full year 2025 earnings 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 will now turn the call over to Justin Chukma, Chief Business Officer. Please go ahead. Good morning and thank you for joining our fourth quarter and full year 2025 earnings conference call. With me on the call are Richard Lowenthal, our co-founder, president, and CEO, Eric Karras, our chief commercial officer, and Kathy Scott, our chief financial officer. Earlier this morning, we issued a press release detailing our financial results and commercial highlights for the fourth quarter and full year 2025. That press release and the slide presentation that we will refer to during today's call are available in the Investors and Media section of our website. Before we begin, please note that today's remarks 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. 2025 was our first full year for ARS as a commercial company. It was a year focused on building infrastructure, educating the market, and learning as we introduce a new treatment into a well-established therapeutic category. NEFI is the only FDA-approved needle-free treatment for type 1 allergic reactions, including anaphylaxis. Real-world data from our NEFI experience program published in the Annals of Allergy, Asthma, and Immunology, showed that approximately 90% of patients experiencing anaphylaxis...