SAN DIEGO—Justin Chakma, Chief Business Officer of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), executed significant stock transactions on December 10, according to a recent SEC filing. Chakma sold 50,000 shares of the company's common stock, with prices ranging from $12.95 to $13.42, resulting in a total value of approximately $657,625. The transaction comes as SPRY shares have delivered an impressive 123% return year-to-date, according to InvestingPro data.
In addition to the sale, Chakma also exercised stock options to acquire 50,000 shares at a price of $0.84 per share, for a total of $42,000. Following these transactions, Chakma holds 136,380 shares of ARS Pharmaceuticals directly.
ARS Pharmaceuticals, headquartered in San Diego, operates in the pharmaceutical preparations industry.
In other recent news, ARS Pharmaceuticals has made significant strides in its global expansion efforts. The company's partners in China, Japan, and Australia have submitted regulatory filings for the approval of neffy® (epinephrine nasal spray) 2 mg, following its recent U.S. approval. The firm's goal is to make neffy globally available, emphasizing its needle-free administration and suitability for the Asia Pacific market.
ARS Pharmaceuticals has also entered into a material definitive agreement with ALK-Abelló A/S, expanding the reach of its epinephrine nasal spray, EURneffy. This agreement grants ALK an exclusive license to develop, manufacture, and commercialize the product for various human uses across multiple global markets, excluding the United States and several other regions.
Moreover, ARS Pharmaceuticals has secured a supply agreement with Nuova Ompi S.r.l., a Stevanato Group subsidiary, ensuring the supply of glass microvials for ARS Pharmaceuticals' neffy®. The company has also updated its manufacturing agreement with Renaissance Lakewood, LLC, extending the contract duration for the production of neffy nasal unit dose sprays.
The FDA has approved neffy, a needle-free epinephrine treatment for Type I Allergic Reactions, now available by prescription across the United States. The European Commission has also approved EURneffy, marking a significant milestone in allergy treatment.
Analyst firm Cantor Fitzgerald initiated coverage of ARS Pharmaceuticals with an Overweight rating, indicating a positive outlook for the company's potential. These are the recent developments within ARS Pharmaceuticals, demonstrating the company's commitment to expanding its product offerings and strengthening its global partnerships.
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