SAN DIEGO—Brian Dorsey, Chief Operating Officer of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), a company currently valued at $1.23 billion, executed a series of stock transactions this week, as detailed in a recent SEC filing.
On December 11 and 12, Dorsey sold a total of 40,000 shares, generating $493,858. The sales were conducted at an average price of $12.4284 on December 11, and $12.2973 on December 12. These sales were part of a pre-arranged trading plan under Rule 10b5-1, adopted by Dorsey earlier this year. The transactions come as SPRY shares have declined 15% in the past week, though maintaining a remarkable 117% gain year-to-date, according to InvestingPro data.
In addition to the sales, Dorsey exercised stock options to acquire 40,000 shares at a price of $0.64 per share. Following these transactions, Dorsey holds 6,024 shares of ARS Pharmaceuticals common stock.
ARS Pharmaceuticals, based in San Diego, continues to be a player in the pharmaceutical preparations industry, with Dorsey's recent transactions reflecting ongoing executive activity within the company.
In other recent news, ARS Pharmaceuticals has made significant strides in the medical field with the FDA approval of Neffy, a needle-free epinephrine treatment for Type I Allergic Reactions. The company has also submitted a supplemental New Drug Application for neffy 1 mg, aimed at addressing needle fear in children. On the financial front, Cantor Fitzgerald initiated coverage of ARS Pharmaceuticals with an Overweight rating, indicating a positive outlook on the company's potential.
The European Commission has approved EURneffy, the first needle-free adrenaline nasal spray for emergency treatment of severe allergic reactions in the European Union, marking a significant milestone in allergy treatment. The product's patents in Europe are valid until 2039, and it will benefit from an eight-year data protection period in the EU.
These are recent developments in the company's operations. ARS Pharmaceuticals continues to innovate in the field of allergy treatment, with its products receiving positive feedback from both the FDA and European Medicines Agency's Committee for Medicinal Products for Human Use. The company's shareholders elected three Class I directors and ratified Ernst & Young LLP as the independent auditor for the current fiscal year, further solidifying the company's governance structure.
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