ARS Pharmaceuticals reported Q3 2026 results

Item 2.02 Results of Operations and Financial Condition.

On November 5, 2026, ARS Pharmaceuticals, Inc. (the "Company") announced its financial results for the quarter ended September 30, 2026 in the press release attached hereto as Exhibit 99.1¹ and incorporated herein by reference.

The information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended² (the "Exchange Act"), or subject to the liabilities of that, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933 (the "Securities Act"), whether made before or after today's date, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific references in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibit

Number

Description

99.1

Press Release dated November 5, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ARS PHARMACEUTICALS, INC.

Date: November 5, 2026

By:

/s/ Donn Casale

Donn Casale

President and Chief Executive Officer

(Principal Executive Officer)

ARS Pharma Reports Business Highlights and Third Quarter 2026 Financial Results

Total Q3 revenue of $37.7 million, including $33.4 million in U.S. net product revenue for neffy³ ® neffy U.S. market share reached 5% overall and 9% in field-targeted accounts⁴, supporting the company's updated targeted provider commercial strategy

Reduced SG&A spend reflected in Q3 operating expenses; reaffirm path to cash flow breakeven by year-end 2027⁶

Leadership team strengthened with appointments of Randall Kaye, M.D., as Chief Medical Officer and John Slebir as Chief Legal Officer

Conference call and webcast today at 4:30 p.m. ET / 1:30 p.m. PT

SAN DIEGO, Nov. 5, 2026 -- ARS Pharmaceuticals (Nasdaq: SPRY), a commercial biopharmaceutical company focused on needle-free epinephrine, today reported its financial results for the third quarter ended September 30, 2026, as well as recent corporate and commercial highlights.

"In August, we committed to three corporate priorities – steady market share gains with neffy , greater financial discipline with a path to cash flow breakeven by year-end 2027, and expansion of our needle-free epinephrine platform beyond anaphylaxis. I'm proud to report that our team has delivered on each," said Donn Casale, President and Chief Executive Officer of ARS Pharma. "Market share grew where our field team engaged; operating expenses were in line with guidance, including a 42% reduction in third-quarter SG&A expenses from the first-half 2026 quarterly average⁵; and ARS-2 is on track for interim Phase 2b data in the first quarter of 2027.

"These results build the foundation for our future-looking three-pillar growth strategy – capture market share with neffy in our base market; expand the epinephrine market over time; and extend our platform, starting with our chronic spontaneous urticaria. With new leadership in place across our commercial, medical and legal functions, we have the team, the strategy and the discipline to execute. The opportunity in front of us is significant, and we believe we are well positioned to pursue it with focus and urgency."

Third Quarter 2026 neffy Commercial Highlights

• Market share: Total U.S. market share reached 5% in the third quarter of 2026, up from 4% in the third quarter of 2025.

• Field-targeted market share: Market share among field-targeted accounts, which represent approximately 44% of the total market opportunity, reached approximately 9%, up from 6% for the same period in 2025. By comparison, market share was 2% in non-targeted accounts in the third quarter of 2026.

• Net U.S. product revenue: U.S. net product revenue for neffy of $33.4 million, compared with $31.3 million in the third quarter of 2025.

• Prescriber base: 19,605 total unique prescribers in the third quarter of 2026, up 49% compared with the third quarter of 2025, for a total of more than 44,000 prescribers since launch.

" neffy is a highly differentiated product in a large market with genuine demand, and I am confident it can become the standard of care in the epinephrine market," said Meg Smith, Chief Commercial Officer. "The data show that when we engage providers directly, neffy wins. In my first two months, we completed a comprehensive assessment of our commercial operations, and we are taking decisive action across multiple fronts, including implementing a shift to account-based targeting, sharper provider-focused messaging, and a strengthened market access strategy. We are moving with urgency, and I expect the progress will continue to be reflected in our results, with steady gains over time."

Business Updates

Leadership Appointments

ARS further strengthened its leadership team to execute its updated corporate and commercial strategy. In addition to the appointment of Meg Smith as Chief Commercial Officer in August 2026, the company also appointed:

• Randall Kaye, M.D., M.P.H, Chief Medical Officer (CMO). Dr. Kaye brings more than 30 years of experience in clinical development, medical affairs, and regulatory strategy. He has served as CMO at multiple biopharmaceutical companies, most recently at Longboard Pharmaceuticals, where he led clinical development of bexicaserin (LP352) and supported the company through its $2.6 billion acquisition by Lundbeck in 2024. Earlier, as CMO of Avanir Pharmaceuticals, he designed and implemented the strategy that secured FDA approval of Nuedexta ® . He began his industry career at Pfizer Inc., where he led late-stage clinical development of Zyrtec ® and supported its U.S. launch. Dr. Kaye completed a fellowship in allergy and immunology at Harvard Medical School and a residency in pediatrics at the University of Massachusetts Medical School. He received his M.D. and M.P.H. from The George Washington University School of Medicine.

• John Slebir, Chief Legal Officer and Corporate Secretary. Mr. Slebir brings more than 20 years of experience advising life sciences companies on commercialization, financings, strategic transactions, and governance. Most recently, he served as Senior Vice President, General Counsel, Corporate Secretary and Chief Trading and Compliance Officer at Dynavax Technologies, where he led legal support for the company's $2.2 billion acquisition by Sanofi in 2026. Previously, he spent more than a decade at VIVUS, Inc., including as Senior Vice President, General Counsel and Corporate Secretary.

Pipeline Expansion

ARS-2 is p