ARS Pharmaceuticals (SPRY) Cantor Global Healthcare Conference 2025 summary

Launch progress and market dynamics

• Neffy launched 10 months ago, focusing on improving access and converting major payers to open access.

• A direct-to-consumer (DTC) campaign began in mid-May, with linear TV ads starting in July, aiming to boost awareness and patient-driven demand.

• Early adopters among physicians are increasing their prescribing rates after initial caution, signaling growing confidence.

• About 10,000 doctors have prescribed Neffy, with adoption accelerating among those who started early.

• The DTC campaign is credited with a significant rise in consumer awareness, from 20% to 49% in recent surveys.

Marketing strategy and consumer engagement

• The campaign leverages a memorable jingle and the slogan “Hello, Neffy, goodbye needles,” focusing on product differentiation.

• Commercials highlight the device’s small size and convenience, with a free carry case soon to be included in packaging.

• Market research shows the campaign outperforms industry benchmarks, resonating especially with parents and caregivers.

• The company emphasizes education for both patients and physicians to drive preference and adoption.

Access, pricing, and payer landscape

• Discontinuation of the GoodRx program in July was due to negative economics from coupon stacking, causing a temporary dip in market share but improving revenue quality.

• The $199 price remains available through BlinkRx, which offers better economics and more control.

• Average copay for Neffy with commercial coverage is $37, lower than the $48 for generic auto-injectors, with 80% of patients paying $25 or less.

• Ongoing efforts target removing prior authorizations and expanding open access, with expectations for Prime PBM formulary inclusion by January.