Nasus Pharma Ltd. (AMEX:NSRX) shares are tumbling on Monday.

The company announced topline results from its Phase 2 study of NS002, an investigational intranasal epinephrine powder formulation for the treatment of anaphylaxis (severe allergic reaction), during the premarket session.

Soon after the data, the stock price surged as high as $7.29 before falling.

Nasus Pharma Candidate Works Faster Than EpiPen

The results demonstrated that NS002 has the potential to exceed EpiPen performance.

The analysis showed statistically significant improvements in time to therapeutic threshold (T100) and in the proportion of subjects reaching the therapeutic epinephrine threshold within the first minutes following administration.

The Phase 2 study showed that NS002 achieved significantly faster time to the critical 100 pg/mL epinephrine threshold compared to the widely used EpiPen, with a median T100 of 1.69 minutes versus 3.42 minutes.

By 10 minutes, approximately 95% of participants receiving NS002 reached the therapeutic threshold.

So, Why Is Nasus Pharma Stock Sinking

On Monday, at the five-minute mark, 88.4% of subjects receiving NS002 reached the threshold compared to 64.6% with EpiPen, demonstrating a favorable safety profile with no serious adverse events reported.

When the company released interim data in January, 91% of participants administered NS002 reached the epinephrine plasma threshold of 100 pg/ml at 5 minutes, compared to 67% of those administered EpiPen.

Data released in January showed that NS002 demonstrated a higher mean peak plasma concentration (Cmax) of 655 pg/ml compared to 548 pg/ml for EpiPen, and achieved peak concentration (Tmax) in 10.8 minutes compared to 15 minutes with EpiPen.

Today’s data showed that NS002 reached Tmax in a median of 15 minutes compared to 19.8 minutes with EpiPen.

Development Pathway

The study involved 50 healthy adults with a history of allergic rhinitis, who received both NS002 and intramuscular EpiPen doses.

NS002 demonstrated a favorable safety profile with no serious adverse events reported and comparable pharmacodynamic response to EpiPen across all participants.

The company plans to initiate a pivotal study in the fourth quarter of 2026, which could further validate NS002’s potential as a leading product in anaphylaxis treatment.

NSRX Price Action: Nasus Pharma shares were down 43.60% at $2.82 at the time of publication on Monday. The stock is trading at a new 52-week low, according to Benzinga Pro data.

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