11 Fastest Growing Small Cap Stocks to Buy

2. ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Quarterly Revenue Growth (yoy): 3,043.40%

Upside Potential as of September 01, 2025: 166.76%

Lupin Inc., a leading player in the healthcare sector, sent a Paragraph IV certification notice to ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) on August 13, 2025, outlining that Lupin has submitted an Abbreviated New Drug Application (ANDA) to the FDA for approval of the launch of a generic version of ARS’s neffy© nasal spray before multiple patents expire.

In response, ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) is working to aggressively defend its patents through the filing of a patent infringement lawsuit against Lupin, which could delay the FDA approval of Lupin’s generic product by 30 months if filed within the next 45 days. Although the outcome remains uncertain, one thing is certain: this would substantially impact the company’s market leadership and intellectual property rights.

Neffy is considered a blockbuster for ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) for emergency allergic reactions. While much of the company’s prospects depend on its market position and Neffy’s market demand, the outlook remains quite encouraging.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), headquartered in San Diego, California, is a biopharmaceutical company providing treatments for severe allergic reactions. Founded in 2015, the company is committed to offering patient-friendly solutions.