Nasus Pharma Ltd
NSRX evidence brief
What we can confirm
- BioSniper Score:
- 7.8 / 10
- Market Cap:
- $39.9M
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 (NSRX) is a clinical-stage pharmaceutical company developing intranasal products for emergency conditions, with lead asset NS002 (epinephrine powder) advancing toward a pivotal study in Q4 2026.
Key risk: Limited cash runway
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Market Cap
$39.9M
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Dec 31, 2025.
Tracking 4 clinical trials for Nasus Pharma Ltd.
Nasus Pharma Ltd (NSRX) is a clinical-stage pharmaceutical company developing intranasal products for emergency conditions, with lead asset NS002 (epinephrine powder) advancing toward a pivotal study in Q4 2026.
- Cash & equivalents of $1.2M and shareholders' equity of $2.8M as of 2025-12-31 [sec].
- NS002 Phase 2 topline results showed statistically significant improvements in early epinephrine absorption compared to EpiPen, with median time to therapeutic threshold of 1.69 minutes vs. 3.42 minutes [news · 2026-03-19].
- FDA clearance received to initiate a clinical study of NS002 for anaphylaxis, with a pivotal study planned for Q4 2026 and topline data expected Q1 2027 [news · 2026-09-14].
- Pipeline assets NS003 (ondansetron for CINV) and NS004 (metabolic) are advancing toward first-in-human studies expected in H2 2026 [news · 2026-03-25].
- Appointed Pharma industry veteran Brendan O’Grady as CEO in August 2026 [news · 2026-08-17].
What works
- NS002 demonstrated statistically significant faster time to therapeutic threshold versus EpiPen in Phase 2, suggesting a potential best-in-class profile [news · 2026-03-19].
- FDA clearance for NS002 clinical study and a planned pivotal study in Q4 2026 indicate regulatory progress [news · 2026-09-14].
- Pipeline expansion into additional intranasal products (NS003, NS004) diversifies the company's portfolio beyond epinephrine [news · 2026-03-25].
What to weigh
- Cash position of $1.2M as of 2025-12-31 is limited relative to the costs of advancing multiple clinical programs [sec].
- All assets are still in clinical or preclinical stages; no approved products generating revenue [news · 2026-08-17].
- Competition from established products like EpiPen and other needle-free epinephrine candidates may limit market uptake [competitor_trial].
From the filings
Quoted directly from source documents.
NS002 Phase 2 showed faster time to therapeutic threshold than EpiPen
“NS002 reaching effective epinephrine levels in a median of 1.69 minutes compared to 3.42 minutes for EpiPen”
News · March 19, 2026
FDA clearance to initiate NS002 clinical study
“Nasus Pharma Announces FDA Clearance to Initiate Clinical Study of NS002 in the Treatment of Anaphylaxis”
News · September 14, 2026
Appointment of Brendan O'Grady as CEO
“Appointed Pharma Industry Veteran Brendan O’Grady as Chief Executive Officer”
News · August 17, 2026
Catalyst timeline
- 2023-08-22 · Phase 2 Start: A Study to Compare the Bioavailability of Epinephrine Following a Single Nasal Dose of FMXIN002 Microspheres Powder 3.6mg, and 4mg With EpiPen 0.3mg Intramuscular Injection in Healthy Adults — This early Phase 2 study compared NS002 to EpiPen in healthy adults.
- 2025-06-12 · Phase 3 Start: Efficacy and Safety of FMXIN002 Epinephrine Powder Nasal Spray for the Treatment of Acute Allergic Reactions in Patients at Risk of Anaphylaxis — A Phase 3 study evaluating NS002 in patients at risk of anaphylaxis.
- 2025-11-03 · Phase 2 Start: A Comparison of PK and PD Responses Following Single and Repeat Administration of Epinephrine Nasal FMXIN002 4.0 mg and EpiPen 0.3 mg, in Healthy Adults With Allergic Rhinitis — A Phase 2 repeat-dose study in healthy adults with allergic rhinitis.
- 2026-09-15 · Phase 1 Start: A Study to Compare the Bioavailability of Ondansetron Following Nasal (NS003) and IV Administration in Healthy Adults — First-in-human study for NS003, an intranasal ondansetron product.
Risks & what to watch (3)›
Key risks
- Limited cash runway — Cash of $1.2M as of 2025-12-31 may be insufficient to fund all planned trials without additional financing [sec].
- No approved products — All assets are in clinical/preclinical stages; no revenue from product sales [news · 2026-08-17].
- Competitive market — Established competitors like EpiPen and other needle-free epinephrine products pose market entry barriers [competitor_trial].
What to watch
- Initiation of NS002 pivotal study in Q4 2026 and topline data readout expected Q1 2027 [news · 2026-09-14].
- First-in-human studies for NS003 and NS004 expected in H2 2026 [news · 2026-03-25].
- Cash position updates in future financial reports to assess runway [sec].
- Regulatory milestones from FDA and Health Canada for NS002 [news · 2025-11-06].
Sources: Catalysts · Competitor trials · News · Generated October 12, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.81
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
2 buys · 0 sells (180d)
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
9
Total value held
$4.7M
| Holder | Shares | Value |
|---|---|---|
| balyasny asset management l.p. | 898,473 | $2.0M |
| cable car capital, lp | 601,998 | $1.3M |
| velan capital investment management lp | 359,390 | $798K |
| hudson bay capital management lp | 134,771 | $299K |
| bleichroeder lp | 89,848 | $199K |
| empery asset management, lp | 45,803 | $102K |
| ubs group ag | 3,094 | $7K |
| 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 (NSRX) is a clinical-stage pharmaceutical company developing intranasal products for emergency conditions, with lead asset NS002 (epinephrine powder) advancing toward a pivotal study in Q4 2026.
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.