SAN DIEGO—Justin Chakma, Chief Business Officer of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), reported the sale of 90,000 shares of common stock over two days in early December. The transactions, disclosed in a recent SEC filing, totaled approximately $1.2 million, with sale prices ranging from $13.1867 to $13.6715 per share. The sales come amid a remarkable year for SPRY, which has seen its stock surge over 163% year-to-date, according to InvestingPro data.
The sales were part of a series of transactions that began on December 2, 2024, when Chakma exercised options to acquire 45,000 shares at a price of $0.84 per share. On the same day, he sold an equal number of shares at an average price of $13.6715. The following day, December 3, Chakma again exercised options to acquire additional shares, subsequently selling another 45,000 shares at an average price of $13.1867.
Following these transactions, Chakma retained direct ownership of 136,380 shares of ARS Pharmaceuticals. This series of transactions highlights the ongoing activity of company insiders in managing their equity positions.
In other recent news, ARS Pharmaceuticals, Inc. has announced considerable developments. The company has entered into a global agreement with ALK-Abelló A/S for its epinephrine nasal spray, EURneffy, securing an upfront payment of $145 million. Additionally, ARS Pharmaceuticals has secured a supply deal with Nuova Ompi S.r.l. for the provision of glass microvials for their emergency medication, neffy®, and extended its manufacturing agreement with Renaissance Lakewood, LLC for the production of neffy nasal unit dose sprays.
The company has also reported FDA approval for neffy, a needle-free epinephrine treatment for Type I Allergic Reactions, and has submitted a supplemental New Drug Application for neffy® 1 mg, targeting younger children. The European Commission has given the green light to EURneffy, a milestone in allergy treatment.
Furthermore, analyst firm Cantor Fitzgerald has initiated coverage of ARS Pharmaceuticals with an Overweight rating. However, these are forward-looking statements and involve risks and uncertainties. These are recent developments, and the company is making strides in ensuring the availability of its products and expanding its global reach.
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