By Chris Wack
Shares of ARS Pharmaceuticals slipped after the biopharmaceutical company reported a first-quarter loss that was wider than analysts had expected.
The stock was down 9%, to $12.12, in midday trading Wednesday, but has gained about 14% since the start of the year.
The San Diego company reported a first-quarter loss of $34.1 million, or 35 cents a share. Analysts polled by FactSet were looking for a loss of $31.2 million, or 34 cents a share.
Revenue for the quarter was $8 million, compared with the $7.5 million analysts were expecting.
Product revenue from its neffy sales in the U.S. were $7.8 million, and $200,000 in revenue came from a collaboration with Denmark's ALK-Abello. Neffy is a nasal spray used for emergency treatment of allergic reactions, including anaphylaxis.
ARS said it had cash, cash equivalents and short-term investments of $275.7 million as of March 31.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 14, 2025 12:51 ET (16:51 GMT)
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