Nasus Pharma Ltd (NSRX)

Nasus Pharma is a pharmaceutical company building drugs that go through the nose instead of through a needle or mouth. The company was founded in 2019 and is based in Tel Aviv, Israel. Its ordinary shares trade on the NYSE American under the ticker NSRX.

The problem Nasus is solving

When someone has a severe allergic reaction or an opioid overdose, the clock is ticking. The standard treatment today uses an injected drug called epinephrine, often given via a device called an EpiPen. The problem with injections is that they are scary, some people cannot or will not inject themselves, and they require steadiness of hand to work correctly. An overdose victim might not be able to use a needle-based treatment, or a bystander might not know how to administer it.

Nasus is working on an alternative. Instead of a needle, the company is developing a powder that dissolves when sprayed into the nose. The goal is to get the drug into the bloodstream fast, with no needle, and in a way that works reliably even if someone is panicking, confused, or alone.

How the technology works

The company calls its approach Powder-Based Intranasal, or PBI. The nasal cavity is thin and full of tiny blood vessels. A powder sprayed in dissolves and absorbs directly into the blood through the nasal lining. That pathway is surprisingly efficient — it can work faster than an injection into muscle in some cases, because the nasal blood vessels are closer to the surface.

This is not new science. Hospitals have used intranasal delivery for certain drugs (like naloxone and fentanyl) for years. But Nasus is trying to make it practical for emergencies outside the hospital. The powder formulation makes it stable, portable, and fast-acting in a way that liquids are not.

The drug pipeline

The company’s main focus right now is NS002, an intranasal epinephrine powder for severe allergic reactions. In early 2026, Nasus reported positive results from a Phase 2 trial comparing its powder to the EpiPen. The data showed that Nasus’s powder worked faster — it reached full drug levels in the blood in about 1.7 minutes on average, compared to 3.4 minutes for the EpiPen. More patients also reached full drug levels within five minutes using the Nasus product. Nobody reported serious side effects.

The company also has NS001, an intranasal naloxone powder for opioid overdose. Naloxone is the drug that reverses an overdose, and emergency responders and harm-reduction programs use it widely. The intranasal version could make it easier for untrained bystanders to administer if someone collapses from an overdose.

The path forward

Nasus is planning a larger, pivotal study for NS002 in the fourth quarter of 2026. That trial would be designed to convince regulators that the powder is safe and works well enough to approve it for prescription use. If approved, the company would face the challenge of getting doctors to prescribe it instead of the EpiPen, and getting pharmacies and patients to stock it. The EpiPen is a household name, and switching drugs is always harder than it sounds, even when the new option is better.

Why this matters

For a patient with a severe allergic reaction, removing the fear or difficulty of injection could be lifesaving. For someone overdosing, any tool that a bystander can use without training or injection skill helps. The company is betting that these advantages will outweigh the challenge of displacing an entrenched competitor.

The bigger picture

Nasus is a clinical-stage company. It is still years away from having a drug approved by regulators, and it is years after that before such a drug reaches broad adoption. Clinical trials fail, regulators ask for more data, competitors build better products. The company does not yet generate significant revenue. For investors, the bet is that the intranasal approach works, that regulators will approve it, and that doctors and patients will adopt it — three big ifs.

How to research Nasus Pharma

Anyone interested in following Nasus should read the company’s SEC filings at CIK 0002029039, including the annual 10-K and quarterly updates. Watch for announcements about the Phase 2 results and the upcoming pivotal trial. Clinical trial results are public — the company will announce top-line data once the study concludes. Also watch for regulatory feedback from the FDA, partnerships with larger pharmaceutical companies, and any safety signals in ongoing studies. The core question is straightforward: does intranasal powder deliver the speed and reliability needed to replace the needle, and will the world care enough to switch?