Ars Pharmaceuticals CEO sells over $1.29 million in company stock

Published 09/20/2024, 04:32 AM
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In a recent transaction, Richard E. Lowenthal, President and CEO of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), sold a total of 100,000 shares of the company's common stock. The sales were conducted at an average price range between $12.9305 and $12.9336, culminating in a total value of over $1.29 million.

The shares were sold on September 17, 2024, as per the latest SEC filing. The transactions took place under a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell shares over a predetermined schedule to avoid concerns about insider trading.

Lowenthal's sales were executed through two separate trusts. The first sale of 50,000 shares was made indirectly by the Sarina Tanimoto Charitable Remainder UniTrust, with the shares owned following the transaction reported at 1,447,447. The second sale, also of 50,000 shares, was made by the Lowenthal-Tanimoto Family Trust, leaving it with 1,398,499 shares.

The filing notes that Lowenthal disclaims beneficial ownership of the securities sold by the Sarina Tanimoto Charitable Remainder UniTrust and that the report is not an admission that he is the beneficial owner of these securities for Section 16 or any other purposes. The Lowenthal-Tanimoto Family Trust holds shares for the benefit of Lowenthal and his spouse, with both serving as trustees.

Investors and followers of ARS Pharmaceuticals will be keeping a close eye on these transactions, as insider sales can sometimes provide insight into an executive's view of the company's future prospects. However, it's worth noting that such sales can also be part of regular financial planning or diversification strategies, not necessarily indicative of a lack of confidence in the company.

ARS Pharmaceuticals, based in San Diego, California, specializes in pharmaceutical preparations and has been a notable player in the industry. Investors interested in the company's stock performance and insider transactions can access full details of the sales upon request from the SEC, the issuer, or any security holder of the issuer.


In other recent news, ARS Pharmaceuticals has been making significant strides in the healthcare sector. The company has submitted a supplemental New Drug Application for neffy® 1 mg, a needle-free epinephrine treatment for children. If approved, it would be the first needle-free option for younger children in over three decades. The company also received approval from the European Commission for EURneffy®, a similar product for adults and children weighing at least 30 kilograms. This marks the first approval for a needle-free adrenaline delivery method in the European Union in over 30 years.

ARS Pharmaceuticals has also gained positive attention from Cantor Fitzgerald, which initiated coverage with an Overweight rating. This comes following the FDA's approval of neffy, an intra-nasal epinephrine product for treating Type I allergic reactions. Furthermore, ARS Pharmaceuticals' shareholders recently elected three Class I directors and ratified Ernst & Young LLP as the independent auditor for the current fiscal year.

These recent developments highlight ARS Pharmaceuticals' commitment to innovation and patient care, particularly in the area of severe allergic reactions. The company's focus on developing needle-free treatments could potentially revolutionize the way allergic reactions are managed, providing a less intimidating and more convenient option for patients.


InvestingPro Insights


As investors evaluate the significance of insider transactions at ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), it is beneficial to consider the company's broader financial context provided by InvestingPro. With a market capitalization of approximately $1.45 billion, ARS Pharmaceuticals is a substantial entity in the pharmaceutical industry. The company's financial health is underscored by its ability to hold more cash than debt on its balance sheet, suggesting a strong liquidity position. This is further supported by the fact that the company's liquid assets exceed its short-term obligations, providing a cushion for operational needs.

In terms of growth potential, analysts are anticipating sales growth in the current year, which could indicate forward momentum for the company's revenue streams. However, it's important to note that ARS Pharmaceuticals is currently not profitable, with a negative P/E ratio of -32 and an adjusted P/E ratio for the last twelve months as of Q2 2024 at -28.33. Additionally, the company's revenue for the last twelve months as of Q2 2024 stands at $0.5 million, with an impressive revenue growth of 128.31% during the same period.

Investors should also be aware that the company's gross profit margins have been weak, as reflected in the gross profit margin of -3913.2% for the last twelve months as of Q2 2024. Despite this, ARS Pharmaceuticals has experienced a significant return over the last week, with a 1-week price total return of 11.24%, and a strong return over the last three months, at 73.89%.

For those looking for more detailed analysis and additional InvestingPro Tips, there are currently 14 listed on the InvestingPro platform for ARS Pharmaceuticals. These tips provide a deeper dive into the company's valuation multiples, profitability, and share price performance, which can be accessed at https://www.investing.com/pro/SPRY.

Considering these metrics and the recent insider sales, shareholders and prospective investors should weigh both the short-term movements and long-term financial health of the company as they make investment decisions regarding ARS Pharmaceuticals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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