SAN DIEGO—Justin Chakma, the Chief Business Officer of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), a pharmaceutical company with a market capitalization of $1.23 billion, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The company’s stock has shown remarkable performance, gaining over 117% year-to-date, according to InvestingPro data. On December 12 and 13, Chakma sold a total of 144,605 shares of common stock, generating approximately $1.77 million. The sales were conducted at prices ranging from $12.0625 to $12.2653 per share. The transactions come amid a recent 15% decline in the stock price over the past week, though InvestingPro analysis shows the company maintains strong liquidity with cash exceeding debt.
In addition to the sales, Chakma exercised stock options to acquire 144,605 shares of common stock at prices between $0.84 and $1.44 per share. Following these transactions, Chakma’s direct ownership stands at 136,380 shares.
These transactions reflect Chakma’s ongoing management of his equity holdings in the company, which specializes in pharmaceutical preparations.
In other recent news, ARS Pharmaceuticals has announced a series of significant developments. The company’s partners in China, Japan, and Australia have submitted regulatory filings for the approval of neffy® (epinephrine nasal spray) 2 mg, a treatment for severe allergic reactions. The move follows U.S. approval of the same, and analysts project an over 267% increase in revenue due to substantial sales growth.
ARS Pharmaceuticals has also entered into a major agreement with ALK-Abelló A/S. The deal, valued at up to $300 million, expands the reach of its epinephrine nasal spray, EURneffy, excluding the United States and a few other regions.
The company has secured a supply agreement with Nuova Ompi S.r.l. for glass microvials for neffy and updated its manufacturing agreement with Renaissance Lakewood, LLC for the production of neffy nasal unit dose sprays.
Cantor Fitzgerald initiated coverage of ARS Pharmaceuticals, indicating a positive outlook for the company’s potential. These are all recent developments within ARS Pharmaceuticals, demonstrating the company’s commitment to expanding its product offerings and strengthening its global partnerships.
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