Laura Shawver, a director at ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), has reported several transactions involving the company's common stock. On December 2nd, Shawver sold a total of 97,244 shares, with prices ranging from $13.27 to $14.34 per share. The sales generated approximately $1.31 million. These transactions come as SPRY shares have surged over 163% year-to-date, with the stock currently trading at $14.42. According to InvestingPro data, analysts have set price targets ranging from $19 to $35.
The following day, December 3rd, Shawver continued her transactions by selling 87,984 shares at prices between $12.92 and $13.62, resulting in an additional $1.17 million. On December 4th, she sold 14,772 shares at prices between $13.39 and $14.00, adding approximately $271,000 to the total. In total, Shawver's sales amounted to roughly $2.69 million across these dates. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 13 additional ProTips available for subscribers.
In addition to these sales, Shawver exercised options to acquire shares at prices ranging from $1.27 to $3.15 per share, acquiring a total of 199,000 shares in the process. These option exercises reflect a strategic adjustment in her holdings of ARS Pharmaceuticals' stock, which now has a market capitalization of $1.39 billion and maintains a "Good" overall financial health score.
In other recent news, ARS Pharmaceuticals, Inc. has announced a series of significant developments. The company has inked a global agreement with ALK-Abelló A/S, granting ALK an exclusive license to develop, manufacture, and commercialize its epinephrine nasal spray, known as EURneffy, in multiple global markets. ARS will receive an upfront payment of $145 million from ALK, with potential regulatory and commercial milestones that could total an additional $20 million, and sales-based milestones that could reach up to $300 million.
ARS Pharmaceuticals has also secured a supply deal with Nuova Ompi S.r.l., a Stevanato Group subsidiary, for the provision of glass microvials for their emergency medication, neffy®. The company has also updated its manufacturing agreement with Renaissance Lakewood, LLC, extending the contract for the production of neffy nasal unit dose sprays.
The FDA has approved neffy, a needle-free epinephrine treatment for Type I Allergic Reactions, now available by prescription across the United States. The company is also seeking FDA approval for neffy 1 mg, targeting younger children with severe allergies. The European Commission approved EURneffy, a needle-free adrenaline nasal spray, marking a milestone in allergy treatment.
Cantor Fitzgerald, an analyst firm, initiated coverage of ARS Pharmaceuticals with an Overweight rating, indicating a positive outlook for the company's potential. These are the recent developments for ARS Pharmaceuticals.
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