Laura Shawver, a director at ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), a pharmaceutical company with a market capitalization of $1.1 billion, recently executed a series of stock transactions, according to an SEC filing. According to InvestingPro data, SPRY shares have delivered an impressive 99.65% return over the past year. On January 6, Shawver sold 50,000 shares of ARS Pharmaceuticals' common stock, generating 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 conducted under a pre-established Rule 10b5-1 trading plan, which Shawver adopted in August 2024. The current stock price of $11.34 sits well below analyst targets ranging from $19 to $35, as revealed by InvestingPro's analysis.
Additionally, Shawver acquired 50,000 shares through stock option exercises at a price of $3.15 per share, totaling $157,500. Following these transactions, Shawver holds 210,346 shares of ARS Pharmaceuticals. The company maintains a strong balance sheet with more cash than debt, earning a FAIR overall financial health rating from InvestingPro.
In other recent news, ARS Pharmaceuticals has been making substantial strides in expanding its global reach and securing its supply chain. The company's partners in Asia Pacific have submitted regulatory filings for the approval of neffy®, a treatment for severe allergic reactions. This follows the U.S. approval of neffy for adults and children weighing at least 30 kg.
ARS Pharmaceuticals has 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 its 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 deal with Nuova Ompi S.r.l. for glass microvials for neffy®, ensuring a steady 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, targeting younger children with severe allergies.
Lastly, Cantor Fitzgerald initiated coverage of ARS Pharmaceuticals, 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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