SAN DIEGO – Justin Chakma, Chief Business Officer of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), a pharmaceutical company with a market cap 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, rising by more than 117% year-to-date, according to InvestingPro Data. On December 12 and 13, Chakma sold a total of 144,605 shares of common stock, realizing approximately $1.77 million. The sales were made at prices ranging from $12.0625 to $12.2653 per share. These transactions come amid a recent 15% decline in the stock price over the past week InvestingPro The analysis shows that 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 amounts to 136,380 shares.
These transactions reflect Chakma's continued management of his equity holdings in the pharmaceutical company.
In other recent news, ARS Pharmaceuticals announced a series of important developments. The company's partners in China, Japan and Australia have submitted regulatory filings for approval of neffy® (epinephrine nasal spray) 2 mg, a treatment for severe allergic reactions. This move comes after the United States approved this, and analysts expect a revenue increase of more than 267% due to significant growth in sales.
ARS Pharmaceuticals has also entered into a master agreement with ALK-Abelló A/S. The deal, valued at up to $300 million, will expand the reach of nasal adrenaline spray, EURneffy, except in the United States and some other territories.
The company has entered into a supply agreement with Nuova Ompi Srl for neffy glass microvials and has updated its manufacturing agreement with Renaissance Lakewood, LLC for the production of nasal unit dose sprays.
Cantor Fitzgerald initiated coverage of ARS Pharmaceuticals, signaling a positive outlook on 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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