If your allergies are so severe that a single peanut could send you straight to the afterlife (we all went to school with this person), chances are you’ve had to carry around that medieval torture device known as the EpiPen.

But thanks to ARS Pharmaceuticals, stabbing yourself with a needle during an allergic reaction may soon be a thing of the past. Neffy is the first-ever FDA-approved nasal spray epinephrine treatment. No needles. No dramatic leg-jabbing. No tears. Just a quick sniff, and PRESTO… you’re back to living your best life. It’s groundbreaking, and Wall Street is inhaling the hype.

ARS stock jumped 26% on Thursday after they dropped a Q4 earnings report that made analysts look like they forgot how to use a calculator. Revenue clocked in at $86.6 million vs. expectations of $5.7 million. (I’m assuming someone at the firm fat-fingered the forecast or mixed it up with Neffy’s marketing budget.) Net income hit $49.9 million… yes, profit, from a small-cap biotech. Rarer than a stress-free flight on Spirit Airlines. Neffy itself raked in $7.3 million since its September launch, narrowly beating expectations, but Wall Street clearly thinks that’s just the warm-up act.

Sure, Neffy wasn’t the primary revenue driver this quarter… collaboration deals carried most of the financial weight… but investors are too busy doing their happy dance to care. The company is now sitting on a $314 million cash pile with a three-year runway, meaning they won’t be passing around the collection plate anytime soon. 

It doesn’t hurt that Neffy isn’t another generic pharma product. It’s the “where have you been all my life?” solution for millions of needle-fearing allergy sufferers. 

Analysts are bullish, and here’s why… Right now, over 60% of commercial insurance plans cover Neffy, and by Q3, ARS expects that number to surpass 80%. That means fewer out-of-pocket costs for patients and wider adoption in the marketplace.

Imagine a flight attendant trying to stab a panicked passenger with an EpiPen during turbulence. Now picture them just spraying medication up someone’s nose. Which scenario doesn’t end with a lawsuit? Exactly. Schools, emergency responders, and airlines are all looking at Neffy as a safer, more practical alternative to traditional injectors.

What makes this even more exciting is that the company’s about to blast it into public consciousness with a major direct-to-consumer campaign launching this year (get ready for some cheesy commercials). With a war chest of cash, they’re aiming to make “Neffy” as synonymous with allergy relief as “Kleenex” is with tissues.

Analysts are overwhelmingly bullish on ARS Pharmaceuticals. The $2.5 billion U.S. epinephrine market is ripe for disruption, and Neffy’s needle-free convenience could take a significant bite out of EpiPen’s market share. Leerink Partners analyst Roanna Ruiz highlights multiple tailwinds for the stock, and Raymond James believes that even after its recent 26% pop to $14.77 (before falling 13% today), ARS still has room to climb over $28 as Neffy adoption picks up speed.

Stocks.News has positions in ARS Pharmaceuticals mentioned in article.