Laura Shawver, Director of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), a pharmaceutical company with a market cap of $1.1 billion, recently made a number of stock transactions, according to an SEC filing. According to InvestingPro according to the data, SPRY shares have achieved an impressive return of 99.65% over the past year. Shawver sold 50,000 shares of ARS Pharmaceuticals stock on January 6th, netting approximately $555,065. The shares were sold at a weighted average price of $11.1013, with individual sale prices ranging between $11.00 and $11.43. This sale was made under a predetermined Rule 10b5-1 trading plan, which Shawver adopted in August 2024. The current share price of $11.34 is well below analysts’ targets ranging from $19 to $35, as revealed InvestingProanalysis.
Additionally, Shawver acquired 50,000 shares through stock options at $3.15 per share, for a total of $157,500. After these transactions, Shawver holds 210,346 shares of ARS Pharmaceuticals. The company maintains a strong balance sheet with more cash than debt, earning it a FAIR overall financial health rating InvestingPro.
In other recent news, ARS Pharmaceuticals is making significant strides in expanding its global reach and securing its supply chain. The company’s partners in the Asia-Pacific region have submitted regulatory applications for the approval of neffy®, a drug for severe allergic reactions. This follows the US approval of neffy for adults and children weighing at least 30kg.
ARS Pharmaceuticals also entered into a significant agreement with ALK-Abelló A/S, which includes an upfront payment of $145 million and potential milestones that could reach up to $300 million. The deal expands the reach of the epinephrine nasal spray, known as EURneffy, in the European Union, excluding the United States and several other regions.
In addition, ARS Pharmaceuticals has secured a supply contract with Nuova Ompi Srl for glass microvials for neffy®, ensuring a constant supply of essential components for the product line. The FDA has approved neffy, and the company is also seeking FDA approval for neffy 1 mg, intended for younger children with severe allergies.
Finally, Cantor Fitzgerald initiated coverage on ARS Pharmaceuticals, indicating a positive outlook for the company’s potential. These are recent developments within ARS Pharmaceuticals, which demonstrate the company’s commitment to expanding its product offering and strengthening global partnerships.
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