ARS Pharmaceuticals reported no new commercial formulary additions for neffy in the July 1, 2026 cycle; Florida Medicaid adds unrestricted coverage and neffy remains accessible via direct coverage and cash pricing. The company cut 2026 cash-based operating expenses to $248 million and reaffirmed a path to cash-flow breakeven in 2027.
ARS Pharmaceuticals received no new commercial formulary additions for neffy in the July 1, 2026 cycle but continues discussions with remaining payers. Florida’s Medicaid program will add neffy to its unrestricted formulary effective July 1, and the product remains broadly accessible to commercially insured patients through direct coverage and cash pricing.
The company lowered full-year 2026 cash-based operating expenses, excluding COGS, to approximately $248 million by prioritizing commercial investment and enforcing cost discipline in the second half of the year. This reduction underpins management’s confidence in achieving cash-flow breakeven in 2027 based on continued neffy base business growth.
ARS Pharmaceuticals is building a commercial franchise around neffy to fund pipeline advancement, with a Phase 2b trial in chronic spontaneous urticaria having completed interim enrollment. Interim data from this program are expected in Q4 2026, positioning the company for potential expansion into a market of an estimated 1.6 million U.S. patients.
