Neffy nasal spray included in Express Scripts formularies enhances access for patients with Type 1 allergic reactions.
Quiver AI Summary
ARS Pharmaceuticals, Inc. announced that neffy® (epinephrine nasal spray) has been added to the Express Scripts commercial formularies effective November 22, 2024, significantly increasing access for patients and caregivers managing Type 1 allergic reactions, including anaphylaxis. Neffy, the first FDA-approved epinephrine nasal spray and a needle-free alternative to injections, is designed for easy and rapid administration in emergency situations, making it more convenient for users to carry. The inclusion of neffy on a major pharmacy benefits platform reflects ARS Pharma’s commitment to enhancing access to allergy treatments. The company anticipates additional payers will follow suit and offers programs to help patients navigate coverage and affordability issues.
Potential Positives
- The inclusion of neffy on Express Scripts’ Commercial National Formularies significantly expands access to millions of commercially insured patients, improving availability of life-saving allergy treatment.
- neffy is the first FDA-approved epinephrine nasal spray, offering a needle-free alternative and enhancing patient safety and compliance during emergency situations.
- The company's commitment to reducing barriers to care is reinforced by the swift nine-week turnaround from product introduction to formulary inclusion, indicating strong market responsiveness.
- ARS Pharmaceuticals anticipates further payer inclusions, suggesting potential for broader market acceptance and increased patient access in the near future.
Potential Negatives
- While the inclusion of neffy on Express Scripts' formularies is a positive development, the press release does not address any potential safety concerns or complications that could arise from the use of neffy, which could impact patient perception and market acceptance.
- The press release acknowledges the presence of multiple risks and uncertainties associated with neffy, including potential complications for patients with underlying health conditions and the implications of the drug's FDA label and future indications.
- The reference to only 3.2 million patients consistently filling their prescriptions for epinephrine autoinjectors suggests challenges in patient compliance, which may impact the adoption rates of neffy despite its advantages.
FAQ
What is neffy and its primary use?
neffy is an FDA-approved nasal spray for emergency treatment of Type I allergic reactions, including anaphylaxis, in patients weighing 30 kg or more.
When was neffy added to Express Scripts formularies?
neffy was included on Express Scripts' commercial formularies effective November 22, 2024, expanding patient access nationwide.
How does neffy compare to traditional epinephrine injections?
neffy offers a needle-free alternative for administering epinephrine, making it easier and more intuitive for patients and caregivers.
What are the benefits of neffy's design?
neffy's simple design enables rapid administration, is portable, and has a shelf life of 30 months, enhancing accessibility during emergencies.
What support does ARS Pharmaceuticals offer for neffy users?
ARS Pharmaceuticals provides various programs to assist patients and caregivers with coverage and affordability challenges related to neffy.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPRY Insider Trading Activity
$SPRY insiders have traded $SPRY stock on the open market 109 times in the past 6 months. Of those trades, 0 have been purchases and 109 have been sales.
Here’s a breakdown of recent trading of $SPRY stock by insiders over the last 6 months:
- SARINA TANIMOTO (CHIEF MEDICAL OFFICER) has traded it 33 times. They made 0 purchases and 33 sales, selling 1,200,000 shares.
- RICHARD E LOWENTHAL (PRESIDENT AND CEO) has traded it 33 times. They made 0 purchases and 33 sales, selling 1,200,000 shares.
- JUSTIN CHAKMA (Chief Business Officer) has traded it 11 times. They made 0 purchases and 11 sales, selling 529,245 shares.
- BRIAN DORSEY (Chief Operating Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 120,000 shares.
- ERIC KARAS (Chief Commercial Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 30,000 shares.
- LAURA SHAWVER has traded it 4 times. They made 0 purchases and 4 sales, selling 200,000 shares.
- JAMES E FLYNN has traded it 8 times. They made 0 purchases and 8 sales, selling 563,270 shares.
- KATHLEEN D. SCOTT (Chief Financial Officer) has traded it 2 times. They made 0 purchases and 2 sales, selling 25,000 shares.
- PETER A. THOMPSON has traded it 5 times. They made 0 purchases and 5 sales, selling 952,377 shares.
- ADVISORS LLC ORBIMED has traded it 5 times. They made 0 purchases and 5 sales, selling 952,377 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SPRY Hedge Fund Activity
We have seen 102 institutional investors add shares of $SPRY stock to their portfolio, and 50 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- K2 PRINCIPAL FUND, L.P. removed 2,341,672 shares (-95.1%) from their portfolio in Q3 2024
- ORBIMED ADVISORS LLC removed 952,377 shares (-10.3%) from their portfolio in Q3 2024
- PERCEPTIVE ADVISORS LLC removed 867,319 shares (-100.0%) from their portfolio in Q3 2024
- NEXTECH INVEST LTD. removed 797,000 shares (-41.7%) from their portfolio in Q3 2024
- WOODLINE PARTNERS LP added 704,863 shares (+250.7%) to their portfolio in Q3 2024
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- FIRST TURN MANAGEMENT, LLC added 593,291 shares (+inf%) to their portfolio in Q3 2024
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Full Release
Inclusion of
neffy
on Express Scripts commercial formularies was
effective November 22, 2024
and expands access to patients and caregivers managing Type 1 Allergic Reactions
SAN DIEGO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- ARS Pharmaceuticals, Inc. (Nasdaq: SPRY), a biopharmaceutical company dedicated to empowering at-risk patients and caregivers to better protect themselves from allergic reactions that could lead to anaphylaxis, announced today that Express Scripts, the pharmacy benefits business of Evernorth Health Services, has added
neffy
®
(epinephrine nasal spray) to its Commercial national formularies. This decision makes
neffy
broadly available to millions of their commercially insured patients across the country.
neffy
2 mg is for the treatment of Type I Allergic Reactions, including anaphylaxis, in adults and children who weigh ≥30 kg (66 lbs.). It is the first and only FDA-approved epinephrine nasal spray that provides a needle-free alternative to traditional injectable epinephrine and the first new delivery method for epinephrine in more than 35 years. Its simple and intuitive design enables rapid administration, helping patients and caregivers act quickly and confidently, and the small size is easy to carry. Additionally,
neffy
has a shelf-life of 30 months and temperatures exclusions up to 122 degrees Fahrenheit.
“The inclusion of
neffy
on Express Scripts’ Commercial National Formularies significantly improves access to life-saving allergy treatment,” said Sal Grausso, Head of Market Access at ARS Pharma. “This highlights the importance of providing a user-friendly solution that empowers patients and caregivers to respond quickly and effectively to severe allergic reactions, demonstrating the value of
neffy
in addressing unmet medical needs in the allergy community. We’re also very pleased with the quick turnaround between product introduction and the inclusion of
neffy
on Express Scripts’ formularies in only nine weeks. We will be working diligently to ensure continued access for as many patients and caregivers as possible.”
This expanded access aligns with ARS Pharma’s commitment to reducing barriers to care and improving outcomes for patients who rely on epinephrine during allergy emergencies. ARS Pharma anticipates other payers to join Express Scripts in providing access to
neffy
in the coming weeks.
To support patients in navigating coverage and affordability challenges, ARS Pharma offers a number of programs for patients and caregivers. For more information, visit
www.neffy.com/savings
.
About
neffy
®
neffy
is an intranasal epinephrine product for patients with Type I Allergic reactions including food, medications, and insect bites that could lead to life-threatening anaphylaxis.
INDICATION AND IMPORTANT SAFETY INFORMATION FOR
neffy
(epinephrine nasal spray)
INDICATION
neffy
2 mg is indicated for emergency treatment of Type I allergic reactions, including anaphylaxis, in adult and pediatric patients who weigh 30 kg or greater.
IMPORTANT SAFETY INFORMATION
It is recommended that patients are prescribed and have immediate access to two
neffy
nasal sprays at all times. In the absence of clinical improvement or if symptoms worsen after initial treatment, administer a second dose of
neffy
in the same nostril with a new nasal spray starting 5 minutes after the first dose.
neffy
is for use in the nose only.
Advise patients when to seek emergency medical assistance for close monitoring of the anaphylactic episode and in the event further treatment is required.
Absorption of
neffy
may be affected by underlying structural or anatomical nasal conditions.
Administer with caution to patients who have heart disease; epinephrine may aggravate angina pectoris or produce ventricular arrhythmias. Arrhythmias, including fatal ventricular fibrillation, have been reported, particularly in patients with underlying cardiac disease or taking cardiac glycosides, diuretics, or anti-arrhythmics.
The presence of a sulfite in
neffy
should not deter use.
neffy
may alter nasal mucosa for up to 2 weeks after administration and increase systemic absorption of nasal products, including
neffy
.
Patients with certain medical conditions or who take certain medications for allergies, depression, thyroid disorders, diabetes, and hypertension, may be at greater risk for adverse reactions.
Epinephrine can temporarily exacerbate the underlying condition or increase symptoms in patients with the following: hyperthyroidism, Parkinson’s disease, diabetes, renal impairment. Epinephrine should be administered with caution in patients with these conditions, including elderly patients and pregnant women.
Adverse reactions to
neffy
may include throat irritation, intranasal paresthesia, headache, nasal discomfort, feeling jittery, paresthesia, fatigue, tremor, rhinorrhea, nasal pruritus, sneezing, abdominal pain, gingival pain, hypoesthesia oral, nasal congestion, dizziness, nausea, and vomiting.
These are not all of the possible side effects of
neffy
. To report suspected adverse reactions, contact ARS Pharmaceuticals Operations, Inc. at 1-877-MY-NEFFY (877-696-3339) or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.
For additional information on
neffy
, please see Full Prescribing Information at www.
neffy
.com.
About Type I Allergic Reactions Including Anaphylaxis
Type I allergic reactions are serious and potentially life-threatening events that can occur within minutes of exposure to an allergen and require immediate treatment with epinephrine, the only FDA-approved medication for these reactions. While epinephrine autoinjectors have been shown to be highly effective, there are well published limitations that result in many patients and caregivers delaying or not administering treatment in an emergency situation. These limitations include fear of the needle, lack of portability, needle-related safety concerns, lack of reliability, and complexity of the devices. There are approximately 40 million people in the United States who experience Type I Allergic reactions. Of this group, over the last three years, approximately 20 million people have been diagnosed and treated for severe Type I allergic reactions that may lead to anaphylaxis, but (in 2023, for example) only 3.2 million filled their active epinephrine autoinjector prescription, and of those, only half consistently carry their prescribed autoinjector. Even if patients or caregivers carry an autoinjector, more than half either delay or do not administer the device when needed in an emergency.
About ARS Pharmaceuticals, Inc.
ARS Pharmaceuticals is a biopharmaceutical company dedicated to empowering at-risk patients and their caregivers to better protect patients from allergic reactions that could lead to anaphylaxis. The Company is commercializing
neffy
®
2 mg (trade name
EUR
neffy
®
in the EU) (previously referred to as ARS-1), an epinephrine nasal spray indicated in the U.S. for emergency treatment of Type I allergic reactions, including anaphylaxis, in adult and pediatric patients who weigh 30 kg or greater, and in the EU for emergency treatment of allergic reactions (anaphylaxis) due to insect stings or bites, foods, medicinal products, and other allergens as well as idiopathic or exercise induced anaphylaxis in adults and children who weigh 30 kg or greater. For more information, visit www.ars-pharma.com.
Forward-Looking Statements
Statements in this press release that are not purely historical in nature are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: the expected impact from the inclusion of
neffy
on Express Scripts’ Commercial National Formularies; ARS Pharmaceuticals’ expectation that ther payors will provide access to
neffy
and the timing by which they will provide such access; the needle-free profile of
neffy
increasing the likelihood that patients will both carry and administer adrenaline; the potential market and demand for
neffy
; and other statements that are not historical fact. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipate,” “expects,” “if,” “may,” “potential,” “on track to,” “plans,” “will,” “would,” and similar expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon ARS Pharmaceuticals’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation: potential safety and other complications from
neffy
; the labelling for
neffy
in any future indication or patient population, if approved; the scope, progress and expansion of developing and commercializing
neffy
; the potential for payors to delay, limit or deny coverage for
neffy
; the size and growth of the market therefor and the rate and degree of market acceptance thereof vis-à-vis intramuscular injectable products; ARS Pharmaceuticals’ ability to protect its intellectual property position; and the impact of government laws and regulations. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” in ARS Pharmaceuticals’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the Securities and Exchange Commission on November 13, 2024. These documents can also be accessed on ARS Pharmaceuticals’ website at www.ars-pharma.com by clicking on the link “Financials & Filings” under the “Investors & Media” tab.
The forward-looking statements included in this press release are made only as of the date hereof. ARS Pharmaceuticals assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
ARS Investor Contact:
Justin Chakma
ARS Pharmaceuticals
justinc@ars-pharma.com
ARS Media Contact:
Christy Curran
Sam Brown Inc.
615.414.8668
christycurran@sambrown.com
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