ARS Pharmaceuticals, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
SPRY$3.57+13.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(158,544) | $(129,974) |
| Non-cash adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 27,940 | 16,358 |
| Depreciation and amortization expense | 1,228 | 950 |
| Accretion on investments, net of amortization | (2,070) | (4,520) |
| Other non-cash items | 2,503 | 2,434 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (27,363) | (28,382) |
| Inventories | (2,564) | (12,269) |
| Prepaid expenses and other assets | (2,599) | 372 |
| Accounts payable and accrued liabilities | 22,064 | 27,945 |
| Contract liability | (181) | (295) |
| Net cash and cash equivalents used in operating activities | (139,586) | (127,381) |
| Cash flows from investing activities: | ||
| Purchases of short-term investments, available-for-sale | (67,681) | (193,147) |
| Proceeds from maturities and sales of short-term investments, available-for-sale | 160,458 | 232,000 |
| Payments of milestone obligations under license agreements | — | (5,860) |
| Purchases of property and equipment | — | (339) |
| Net cash and cash equivalents provided by investing activities | 92,777 | 32,654 |
| Cash flows from financing activities: | ||
| Proceeds from term loan, net of issuance costs | 24,973 | 96,989 |
| Proceeds from milestone obligations met and royalties earned under license agreements recognized as an increase to the financing liability | 2,735 | 2,577 |
| Proceeds from exercise of common stock options and issuance of common stock under the employee stock purchase plan | 3,405 | 3,901 |
| Net cash and cash equivalents provided by financing activities | 31,113 | 103,467 |
| Net (decrease) increase in cash and cash equivalents | (15,696) | 8,740 |
| Cash and cash equivalents at beginning of period | 41,317 | 50,817 |
| Cash and cash equivalents at end of period | $25,621 | $59,557 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $7,011 | $— |
| Non-cash investing and financing activities: | ||
| Intangible assets included in accounts payable and accrued liabilities | $— | $2,000 |
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