Nasus Pharma Ltd
NSRX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for NSRX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · NSRX
Nasus Pharma Ltd is a clinical-stage specialty pharmaceutical company developing intranasal powder drugs for emergency medical conditions, with lead candidates Intranasal Epinephrine (NS002) and Intranasal Naloxone, but faces substantial doubt about its ability to continue as a going concern.
Key risk: Going concern uncertainty
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Dec 31, 2025.
Tracking 3 clinical trials for Nasus Pharma Ltd.
Nasus Pharma Ltd is a clinical-stage specialty pharmaceutical company developing intranasal powder drugs for emergency medical conditions, with lead candidates Intranasal Epinephrine (NS002) and Intranasal Naloxone, but faces substantial doubt about its ability to continue as a going concern.
- Nasus Pharma is a clinical-stage specialty pharmaceutical company focused on intranasal drugs for emergency medical conditions [sec · filed 2026-03-25].
- Lead product candidate NS002 (Intranasal Epinephrine) has completed Phase 2 studies; a pivotal Phase 3 study is planned for Q4 2026 [sec · filed 2026-03-25].
- Intranasal Naloxone has completed a pivotal study [sec · filed 2026-03-25].
- As of March 25, 2026, cash and equivalents were approximately $15.0 million, raised from an IPO ($10M) and a February 2026 Private Placement ($15M) [sec · filed 2026-03-25].
- The company has identified material weaknesses in internal control over financial reporting and states that current cash is insufficient to fund projected operating requirements, raising substantial doubt about going concern [sec · filed 2026-03-25].
What works
- Intranasal administration leverages the rich vascular bed in the nose for quick drug absorption, which is especially suitable for medical emergencies [sec · filed 2026-03-25].
- The company's PBI technology may be superior to liquid-based solutions due to potentially significantly higher dispersion of powder [sec · filed 2026-03-25].
- Intranasal Naloxone has already completed a pivotal study, indicating progress toward regulatory submission [sec · filed 2026-03-25].
- The company raised $15.0 million in a February 2026 Private Placement, providing near-term capital to advance development [sec · filed 2026-03-25].
What to weigh
- The company states that current cash on hand is not sufficient to fund projected operating requirements, raising substantial doubt about its ability to continue as a going concern [sec · filed 2026-03-25].
- Material weaknesses in internal control over financial reporting have been identified, which could affect the accuracy and timeliness of financial reporting [sec · filed 2026-03-25].
- NS002 has not yet received an IND application; submission is planned for Q3 2026, and the product candidate is subject to significant regulatory and clinical risks [sec · filed 2026-03-25].
- The company expects to need substantial additional funding to complete development and commercialization, and such financing may not be available on acceptable terms [sec · filed 2026-03-25].
From the filings
Quoted directly from source documents.
The company is a clinical-stage specialty pharmaceutical company focused on intranasal drugs for emergency conditions.
“We are a clinical-stage specialty pharmaceutical company focused on the development of intranasal drugs to treat emergency medical conditions.”
SEC filings · March 25, 2026
NS002 has completed Phase 2 and a pivotal Phase 3 study is planned for Q4 2026.
“We intend to initiate an additional Phase 2 study in the second quarter of 2026 evaluating self-administration and we plan to initiate our pivotal clinical Phase 3 study in the fourth quarter of 2026, prior to submission to the FDA for marketing approval.”
SEC filings · March 25, 2026
The company has raised $15.0 million in a February 2026 Private Placement and had approximately $15.0 million in cash as of March 25, 2026.
“we received $15.0 million in gross proceeds in connection with our February 2026 Private Placement. As of March 25, 2026, our cash and cash equivalents, restricted cash and short-term deposits were approximately $15.0 million.”
SEC filings · March 25, 2026
There is substantial doubt about the company's ability to continue as a going concern.
“We do not believe that our current cash on hand will be sufficient to fund our projected operating requirements. This raises substantial doubt about our ability to continue as a going concern.”
SEC filings · March 25, 2026
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Current cash is insufficient to fund projected operations, raising substantial doubt about the company's ability to continue [sec · filed 2026-03-25].
- Material weaknesses in internal controls — Identified material weaknesses in internal control over financial reporting could affect accuracy and timeliness of reporting [sec · filed 2026-03-25].
- Regulatory and clinical development risk — NS002 has not yet received an IND; failure to obtain regulatory approval could halt development [sec · filed 2026-03-25].
- Need for substantial additional funding — The company expects to need significant additional capital, which may not be available on acceptable terms [sec · filed 2026-03-25].
What to watch
- IND submission for NS002 planned for Q3 2026 [sec · filed 2026-03-25].
- Initiation of additional Phase 2 study for NS002 in Q2 2026 [sec · filed 2026-03-25].
- Initiation of pivotal Phase 3 study for NS002 in Q4 2026 [sec · filed 2026-03-25].
- Ability to raise additional financing to address going concern and fund development [sec · filed 2026-03-25].
Sources: SEC filings · Generated August 27, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
1.5 months
D/E 0.81 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
3 buys · 0 sells (180d)
Runway
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
4
Total value held
$2.3M
| Holder | Shares | Value |
|---|---|---|
| balyasny asset management l.p. | 898,473 | $2.0M |
| hudson bay capital management lp | 134,771 | $299K |
| morgan stanley | 2,000 | $4K |
| hrt financial lp | 38,897 | $86 |
Short Interest
as of May 21, 2026- % of float
- 1.7%
- Days to cover
- 1.0
- Shares short
- 111,022
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
NSRX short interestFrequently asked questions
What is the AI investment thesis for Nasus Pharma Ltd?
Nasus Pharma Ltd is a clinical-stage specialty pharmaceutical company developing intranasal powder drugs for emergency medical conditions, with lead candidates Intranasal Epinephrine (NS002) and Intranasal Naloxone, but faces substantial doubt about its ability to continue as a going concern.
Who is the CEO of Nasus Pharma Ltd?
Mr. Brendan P. O'Grady is the chief executive officer of Nasus Pharma Ltd (NSRX).
Where is Nasus Pharma Ltd headquartered?
Nasus Pharma Ltd (NSRX) is headquartered in Tel Aviv-Yafo, Israel.
What therapeutic areas does Nasus Pharma Ltd focus on?
Nasus Pharma Ltd develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.