Companies · Pharmaceuticals

ARS Pharmaceuticals, Inc.

SAN DIEGO · Pharmaceuticals

Diligence memoA one-page analyst read on ARS Pharmaceuticals, Inc. — recommendation, valuation, rhythm, risks.
$63.0M
Total raised · real
2
Rounds
6.9×
Latest step-up
Top 16%
Sector rank · raised
Series C
Latest stage · inferred · Thu Aug 26 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

ARS Pharmaceuticals, Inc. looks fair against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the pharma sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.78× the median modeled value of Series C Pharmaceuticals companies in 2019–2021 (33 peers) — value vs value, same stage and era.
  • Within the normal band (78% of peer median) for its niche.
Dormant
  • Last raise 4.8 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Pharmaceuticals

ARS Pharmaceuticals, Inc. is one of 1613 Pharmaceuticals companies tracked from SAN DIEGO. By capital raised it ranks in the upper tier (ahead of 85% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
8
Investors (latest)
2021-08-26
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$500M$1.0B$1.5B$2.0BSeries A · 2018-09-14 Raised $8.0M (real) Modeled valuation $248M (est)$8.0M$248MSeries A2018Series C · 2021-08-26 Raised $55M (real) Modeled valuation $1.3B (est)$55M$1.3BSeries C2021+$55MCumulative $63M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$8.0M · 2018
Series C$55.0M · 2021no Series B on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$1.3B
Base estimate est.
$178.6M
Conservative case
$2.9B
Upside case
$366.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Series A · modeled $247.8M · 2018-09-142018Series C · modeled $1.3B · 2021-08-262021
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
66%
Survival probability
49% low · 76% high
1.42×/yr
Annual markup
1.62×/yr upside case
4.8 yr
Elapsed time used
4.8 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
35 mo
Avg between rounds
$21.4M/yr
Capital velocity
7.8 yr
On record since
2018
First round
2
Rounds on file
How it compares to the market

Benchmarked against 1613 companies in Pharmaceuticals. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 7.8× above median
This company$63.0M
Sector median$8.1M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.2× above median
This company$55.0M
Sector median$46.4M
Modeled value — vs sector median (estimate, all stages) 17× above median
This company$1.3B
Sector median$76.1M

Raised more than 85% of sector peers (real $). Modeled value above 91% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #21 of 33.

This companyCohort peer
$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Verastem, Inc. · Series C Raised $163.2M · modeled $3.5B (est)Sentia Wellness, Inc. · Series C Raised $91.6M · modeled $3.2B (est)Oyster Point Pharma, Inc. · Series C Raised $113.6M · modeled $3.0B (est)Terns Pharmaceuticals, Inc. · Series C Raised $97.7M · modeled $2.9B (est)Theseus Pharmaceuticals, Inc. · Series C Raised $117.2M · modeled $2.7B (est)Aerovate Therapeutics, Inc. · Series C Raised $78.3M · modeled $2.6B (est)Mereo Biopharma Group plc · Series C Raised $70.0M · modeled $2.5B (est)Goldfinch Bio, Inc. · Series C Raised $69.7M · modeled $2.4B (est)Avilar Therapeutics, Inc. · Series C Raised $75.3M · modeled $2.3B (est)Werewolf Therapeutics, Inc. · Series C Raised $128.2M · modeled $2.1B (est)Athenex, Inc. · Series C Raised $366.7M · modeled $2.1B (est)Tvardi Therapeutics, Inc. · Series C Raised $78.1M · modeled $1.8B (est)ARS Pharmaceuticals, Inc. (this company) Raised $63.0M · modeled $1.3B (est)ARS Pharmaceuticals, Inc.
CompanyStageRaised · realValue · estvs peer med.
Verastem, Inc.Series C$163.2M$3.5B2.12×
Sentia Wellness, Inc.Series C$91.6M$3.2B1.94×
Oyster Point Pharma, Inc.Series C$113.6M$3.0B1.80×
Terns Pharmaceuticals, Inc.Series C$97.7M$2.9B1.75×
Theseus Pharmaceuticals, Inc.Series C$117.2M$2.7B1.66×
Aerovate Therapeutics, Inc.Series C$78.3M$2.6B1.56×
Mereo Biopharma Group plcSeries C$70.0M$2.5B1.49×
Goldfinch Bio, Inc.Series C$69.7M$2.4B1.48×
Avilar Therapeutics, Inc.Series C$75.3M$2.3B1.36×
Werewolf Therapeutics, Inc.Series C$128.2M$2.1B1.30×
Athenex, Inc.Series C$366.7M$2.1B1.28×
Tvardi Therapeutics, Inc.Series C$78.1M$1.8B1.12×
ARS Pharmaceuticals, Inc. this companySeries C$63.0M$1.3B0.78×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$8.0M2018-09-14$36.4M$247.8M90%
Series C$55.0M2021-08-26$366.7M$1.3B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$8.0M2018-09-14
    • First recorded raise — entered as Series A.
    • 2 investors on this round.
  2. Series C$55.0M2021-08-26
    • Raised again after 35 mo — slower than the ~13 mo sector norm.
    • Round 6.9× larger than the prior — scaling up.
    • 8 investors on this round.
Intelligence
2024 ~Q3
Modeled next raise · ~35mo cadence
$165.0M
Modeled next size est.range $107.2M$264.0M
6.9×
Last step-up
$21.4M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Jonathan Leff10 other2018-09
Peter Kolchinsky7 other2021-08
Rajeev Dadoo6 other2021-08
Brent Saunders4 other2021-08
Pratik Shah4 other2018-09
Dana McGowan1 other2021-08
Richard Lowenthal1 other2018-09
Mike Kelly2021-08
Phil Schneider2021-08
Registry & provenance

ARS Pharmaceuticals, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1755120
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
GLO Pharma, Inc.PharmaceuticalsSeries C$60.4M$1.2Bnetwork1 shared operator · same sector · same stage
BiomX Inc.PharmaceuticalsSeries C$72.3M$16.9Mnetwork1 shared operator · same sector · same stage
Mirum Pharmaceuticals, Inc.PharmaceuticalsSeries C$138.5M$348.3Mnetwork1 shared operator · same sector · same stage
Navitor Pharmaceuticals, Inc.PharmaceuticalsSeries B$68.2M$686.4Mnetwork1 shared operator · same sector
Tetraphase Pharmaceuticals IncPharmaceuticalsSeries C$64.7M$350.8Msame sector · same stage
Zavante Therapeutics, Inc.PharmaceuticalsSeries C$60.2M$1.6Bsame sector · same stage
Lusaris Therapeutics, Inc.PharmaceuticalsSeries C$60.2M$955.7Msame sector · same stage
Global Pharm Holdings Group, Inc.PharmaceuticalsSeries C$66.0M$350.9Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Eagle Pharmaceuticals, Inc.PharmaceuticalsSeries A$84.9M82%
Alphageneron Pharmaceuticals, Inc.PharmaceuticalsPre-Seed$2.1M82%
Aarvik Therapeutics, Inc.PharmaceuticalsSeries A$5.1M81%
Med Aditus Pharmaceuticals, Inc.PharmaceuticalsSeries A$22.0M81%
Isla Pharmaceuticals, Inc.PharmaceuticalsSeed$21.4M81%
PharmID, Inc.PharmaceuticalsSeries A$154.9M81%
Acta Pharmaceuticals, Inc.PharmaceuticalsSeries A$121.5M81%
Titan Pharmaceuticals IncPharmaceuticalsSeries A$23.0M81%
Frequently asked
How much funding has ARS Pharmaceuticals, Inc. raised?
ARS Pharmaceuticals, Inc. has raised approximately $63.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is ARS Pharmaceuticals, Inc.'s estimated valuation?
Provath's modeled valuation for ARS Pharmaceuticals, Inc. is approximately $1.3B (modeled range $178.6M–$2.9B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is ARS Pharmaceuticals, Inc. at?
ARS Pharmaceuticals, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Aug 26.
What does ARS Pharmaceuticals, Inc. do and where is it based?
ARS Pharmaceuticals, Inc. operates in the Pharmaceuticals sector, based in SAN DIEGO.
Explore related

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