Rodney Reeves's questions to ARS Pharmaceuticals (SPRY) leadership • Q2 2025
Question
Representing Rodney Reeves of Leerink Partners, an analyst asked about the potential ceiling for commercial coverage without prior authorization, particularly concerning CVS Caremark, and the potential revenue impact of achieving full coverage without PAs.
Answer
Co-Founder, President, and CEO Richard Lowenthal stated that the company has not seen signs of a ceiling for coverage. He explained that while a majority of CVS Caremark members still require a prior authorization, these are being approved over 80% of the time. As other payers grant open access, it frees up physician capacity to manage the remaining PAs, ensuring steady access.