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Nasus Pharma Ltd. is a clinical-stage drug developer focused on emergency treatments delivered through the nose. Most of its effort and financial resources go to NS002, a powdered epinephrine candidate for emergency treatment of allergic reactions. Its Nasax technology combines drug particles with larger lactose carrier particles for nasal delivery. Development of NS001, its nasal naloxone powder candidate for opioid overdose, is paused while the company seeks a partner to advance it.
The company has no approved pharmaceutical products and has not generated product revenue. It plans to commercialize its medicines and seek pharmaceutical partners with development, sales and marketing capabilities. Any future product revenue depends on successful clinical testing and regulatory approval before sale, followed by acceptance by physicians and patients and coverage from government and private payors. For now, investors supply most of its operating funding through equity financing, and it needs additional capital to advance development and commercialization.
Nasus Pharma has no manufacturing facilities and expects to rely on third parties for late-stage trial and commercial drug supplies. Aptar is the sole supplier of the nasal delivery device used for its epinephrine and naloxone powders, making that supply relationship important to development and any future launch.
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Nasus Pharma’s prospects hinge on funding and approval of NS002 amid needle-free competition from Orexo and Bryn Pharma, with Aptar France contracted as its exclusive nasal-device supplier.
ARS Pharmaceuticals already sells neffy nasal epinephrine for severe allergic reactions, directly competing with Nasus Pharma’s NS002 candidate. Its U.S. sales to pharmaceutical wholesalers supplying healthcare providers offer a concrete measure of demand for nasal treatment without an injection.
Aquestive Therapeutics’ epinephrine film placed under the tongue pursues the same needle-free severe-allergy market as Nasus Pharma’s nasal NS002 candidate; Aquestive also earns revenue from drug products marketed by licensees. Its epinephrine candidate received an FDA Complete Response Letter, making its approval progress a development to watch for this competing treatment.
Viatris markets EpiPen and generic injectable epinephrine, established treatments for allergy emergencies that Nasus Pharma’s nasal NS002 seeks to displace. Watch pricing on these injections: competitor discounts could force Nasus to lower prices or offer more favorable terms.
Teva Pharmaceutical Industries sells generic injectable epinephrine that competes with Nasus Pharma’s nasal NS002, and distributes nasal naloxone that overlaps Nasus’s paused NS001 program. The epinephrine business is the more immediate comparison, since Nasus now focuses on NS002 and seeks a partner to continue NS001 development.
ARS Pharmaceuticals, Inc. earningsSPRY
ARS Pharmaceuticals’ report will show whether providers and patients are buying nasal epinephrine, a test of the market Nasus Pharma’s NS002 would enter.
Read ARS Pharmaceuticals’ sales to pharmaceutical wholesalers, which supply healthcare providers. Rising sales show demand reaching the channel and suggest NS002 could have customers to win; weak sales leave demand unproven, so Nasus Pharma still has to show that providers and patients will accept its product.
