ARS Pharmaceuticals: Still A Buy As Neffy Access Improves
ARS Pharmaceuticals is now focused on scaling Neffy. This is their needle-free epinephrine spray for severe allergic reactions, and it's also core to my bull case on SPRY. Recently, we've seen SPRY double down on CVS Caremark, Medicaid, retail affordability, and a larger sales force to improve Neffy's access by 2H2026. Neffy is already generating commercial revenue, and the next test for my bull case is whether repeat sales grow as access improves.