ARS Pharmaceuticals, Inc.
SPRYHealthcareNASDAQBiotechnology · Last scanned Jul 18, 2026
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Daily timeframePart of the healthcare sector, ARS Pharmaceuticals, Inc. (SPRY) is listed under Biotechnology. The $695.1M market capitalization puts SPRY squarely in small-cap range for its industry. The company is involved in the development of neffy, a needle-free intranasal delivery of epinephrine for emergency treatment of Type I allergic reactions, including anaphylaxis.
Market Cap
$695.1M
Beta
0.88
P/E (TTM)
—
P/E (Fwd)
-7.42
EPS (TTM)
$-1.88
EPS (Fwd)
$-0.94
ROE
-136.4%
ROA
-41.1%
Cash
$201.0M
Total Debt
$171.2M
Free CF
-$98.3M
52W Change
-60.9%
Annual Financials
Cash vs Debt
ARS Pharmaceuticals, Inc. holds $201.0M in cash against $171.2M in total debt, giving it a net cash position. This means the company could theoretically pay off all its debt and still have cash remaining. The company is burning cash, with free cash flow at -$98.3M. This typically occurs when a company is investing aggressively in growth, but sustained cash burn can strain the balance sheet. ROE of -136.4% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has been uneven over recent years, ranging from $1.3M to $84.3M.
Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for ARS Pharmaceuticals, Inc. and its sector.