ARS Pharmaceuticals (SPRY) investor relations material

Early adoption and market expansion

• Over 20,000 prescribers have written prescriptions for Neffy, with the number doubling in the last three months.

• Real-world data shows Neffy performs comparably to injectable epinephrine, supporting physician confidence.

• About 80% of prescriptions are from switchers, while 20% represent market expansion, including patients who never filled or never received prior prescriptions.

• Direct-to-consumer campaigns have raised awareness from under 20% to over 50%, reaching both patients and lower-prescribing physicians.

• Institutional buyers and public venues are increasingly interested due to the needle-free, easy-to-administer format.

Access, payer dynamics, and patient programs

• Most major payers, including UnitedHealth, Express Scripts, and Optum, provide good coverage; CVS and some Blue Cross plans remain challenging.

• Eight states have granted preferred Medicaid status, with ongoing efforts to expand further.

• The Get Neffy on Us program eliminates copays for commercially insured patients and offers a streamlined virtual prescription process.

• Virtual prescribing reduces barriers for both patients and physicians, allowing for quick, remote access and less administrative burden.

Clinical data and physician engagement

• Real-world outcomes from over 680 patients show a 90% response rate to a single dose, matching injection data.

• Published data and experience programs have increased physician trust and repeat prescribing.

• Advisory boards and educational efforts are reinforcing confidence among allergists and broader prescriber groups.