Monitor the full Phase 2 topline results expected by the end of Q1 2026 and the initiation of the pivotal Phase 3 study planned for Q4 2026. The company's ability to raise additional capital will be critical for its survival beyond mid-2027.
Executive Summary
Nasus Pharma is a clinical-stage Israeli pharmaceutical company developing intranasal powder-based drugs for emergency conditions like anaphylaxis and opioid overdose. The company has paused development of its naloxone candidate (NS001) to focus on its lead product, intranasal epinephrine (NS002). While early clinical data shows NS002 achieves faster and higher drug absorption compared to EpiPen, the trials were small and not powered for statistical significance. The company has raised $25 million from an IPO and a private placement but has no revenue, has incurred significant losses, and faces substantial doubt about its ability to continue as a going concern without additional funding.
Key Facts
- Company is a clinical-stage pharmaceutical company headquartered in Israel, focused on intranasal powder-based drugs for emergency conditions.
- Lead product NS002 (intranasal epinephrine) showed faster systemic absorption and higher peak concentrations than EpiPen in a Phase 2 study, but the trial was not powered for statistical significance.
- Development of NS001 (intranasal naloxone) has been paused to focus on NS002 and other pipeline programs.
- Company has raised $25 million from an IPO and private placement but has no revenue and an accumulated deficit of $13.9 million as of June 30, 2025.
- The company faces substantial doubt about its ability to continue as a going concern and will need substantial additional funding to complete development and commercialization.
- The company has identified material weaknesses in its internal control over financial reporting.
Financial Impact
The company has no revenue and has incurred significant losses. As of June 30, 2025, it had an accumulated deficit of $13.9 million. The company expects its current cash will fund operations only through May 2027.
Risk Factors
- Substantial doubt about the company's ability to continue as a going concern
- Need for substantial additional funding to complete development
- Clinical trial results are from small studies not powered for statistical significance
- Material weaknesses in internal control over financial reporting
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| F-1 Filing (Primary) | 0001493152-26-008581 |
| Exhibit: ex-107.htm | 0001493152-26-008581 |
| Exhibit: ex5-1.htm | 0001493152-26-008581 |
| Exhibit: ex23-1.htm | 0001493152-26-008581 |
| Document: 0001493152-26-008581-index-headers.html | 0001493152-26-008581 |
| Document: 0001493152-26-008581-index.html | 0001493152-26-008581 |
| Document: 0001493152-26-008581.txt | 0001493152-26-008581 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | 6-K | $3.51 | awaiting T+20 | — | $3.49 (−0.57%) |
Sep 23, 2026 4w ago | 3 | $3.64 $3.06 | ▼ −15.93% | ▼ −16.62% | $3.49 (−4.12%) |
Sep 18, 2026 5w ago | 424B5 | $3.44 $3.21 | ▲ +6.83% | ▲ +5.92% | $3.49 (−1.45%) |
Sep 14, 2026 6w ago | 6-K | $3.65 $3.32 | ▼ −9.04% | ▼ −11.30% | $3.49 (−4.38%) |
Sep 14, 2026 6w ago | EFFECT | $3.65 $3.32 | ▼ −9.04% | ▼ −11.30% | $3.49 (−4.38%) |
Aug 21, 2026 9w ago | EFFECT | $4.00 $3.44 | ▼ −14.00% | ▼ −13.47% | $3.49 (−12.75%) |
Aug 19, 2026 9w ago | 6-K | $3.84 $3.53 | ▼ −8.07% | ▼ −6.12% | $3.49 (−9.11%) |
Aug 17, 2026 10w ago | 6-K | $3.70 $3.59 | ▼ −2.97% | ▼ −1.00% | $3.49 (−5.68%) |
Aug 17, 2026 10w ago | Press Release | $3.70 $3.59 | ▼ −2.97% | ▼ −1.00% | $3.49 (−5.68%) |
Apr 1, 2026 29w ago | EFFECT | $2.55 $2.56 | ▼ −0.39% | ▲ +9.33% | $3.49 (−36.86%) |
US Market Status
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