Dashboard PDUFA PDUFA History Dilution Watch Missed Milestones Earnings Big Movers Blog

🎤 Upcoming Biotech Conferences

Loading conferences...

Free to browse, no account needed Track SPRY with free AI briefings, catalyst countdowns, and dilution alerts.

SPRY · ARS Pharmaceuticals, Inc.

Company guidance, FDA catalysts, dilution risk and cash runway, built from SEC, FDA and ClinicalTrials.gov filings and updated every day.

$143.8M Cash on Hand

8.2mo Cash Runway

33.5% Short Interest

$22.5 Analyst Target (4)

Follow SPRY by email Get an email when SPRY pushes back a promised milestone, files for a stock offering or has an FDA decision. Free, no account needed.

We send one confirmation email first. Only emails about SPRY, unsubscribe in one click. Privacy

📣 What SPRY Says Is Next

first quarter of 2027 · “Given the time required for patients to complete all three episodes for data collection and reporting, ARS Pharma expects interim Phase 2b data in the first quarter of 2027.”
Company press release, Aug 13, 2026 · SEC filing
in 2028 · “Anticipated WAC of neffy at the time of CSU launch in 2028, 4.”
Company press release, May 15, 2026 · SEC filing
fourth quarter of 2026 · “The interim analysis population is fully enrolled, with interim data anticipated in the fourth quarter of 2026, followed by the potential initiation of a single Phase 3 pivotal efficacy study in mid-2027.”
Company press release, May 15, 2026 · SEC filing

Quoted word for word from the company's press releases filed with the SEC. Timing is the company's own guidance, not a BioRadar estimate.

🧪 Trial & FDA Catalysts

Apr 2027 · Phase 4 · Recruiting · Study Evaluating the Safety and Efficacy of Neffy or Intramuscular Adrenalin in Patients W
Registry primary completion date, not a results date
Jun 2027 · Phase 2 · Recruiting · An Outpatient Study of the Efficacy of ARS-2 in Patients With Chronic Spontaneous Urticari
Registry primary completion date, not a results date

📊 Drug Pipeline

Drug	Indication	Most advanced trial	Status
Epinephrine FDA approved Aug 2024 · Neffy	Allergic Reactions	Phase 4 · NCT06834165	Recruiting
Albuterol MDI 90 mcg/inh	Asthma	Phase 2 · NCT05363670	Completed
ARS-1	Urticaria	Phase 2 · NCT05496465	Completed
ARS-1 without URTI	Upper Respiratory Tract Infection	Phase 1 · NCT04930900	Completed

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

SPRY holds $143.8M in cash and short-term investments (as of Jun 30, 2026) and burns about $52.9M/quarter from operations, an estimated runway of 8.2 months at that rate (BioRadar estimate, not company guidance).

Dilution pressure: 55 · Elevated

Cash runway 8 months +30
ATM program on file since Jan 2025 +15
Shelf registration (S-3ASR, Jan 2025) +10

Recent financing filings on SEC EDGAR:

Jan 31, 2025 · Shelf registration with ATM program, up to $200M · S-3ASR

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when SPRY files for a raise →

👥 Who Owns SPRY

Insiders 37.2% Institutions (272 holders) 62.8% Public and other holders 0%

Holder	Type	Shares	% of shares	As of
Sarina Tanimoto CHIEF MEDICAL OFFICER, 10% owner · +1.12M options	Insider	11,353,141	11.42%	2025-08-19
Richard E Lowenthal PRESIDENT AND CEO, Director, 10% owner · +1.12M options	Insider	11,303,141	11.37%	2025-08-21
RA Capital Management, L.P.	Institution (13G, 5%+)	10,940,977	11.00%	2025-09-29
James E Flynn 10% owner	Insider	9,774,508	9.83%	2025-06-27
Orbimed Advisors LLC.	Institution (13F)	8,288,510	8.33%	2026-06-30
Rubric Capital Management LP	Institution (13G, 5%+)	8,000,000	8.04%	2026-03-31
Deerfield Management Company, L.P.	Institution (13G, 5%+)	7,610,217	7.65%	2025-07-30
BlackRock, Inc.	Institution (13G, 5%+)	5,218,264	5.25%	2026-06-30
Pratik Shah Director · +60,000 options	Insider	4,474,554	4.50%	2025-11-12
Tyro Capital Management LLC	Institution (13F)	4,459,337	4.48%	2026-06-30
Aberdeen Group plc	Institution (13F)	4,170,629	4.19%	2026-06-30
SR One Capital Management, LP	Institution (13F)	4,012,903	4.04%	2026-06-30

Share count 99,447,343 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the total held by all 13F filers (Yahoo Finance); the table lists the largest (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Trade date	Insider	Transaction	Shares	Price	Owned after
2026-09-01 filed 2026-09-02	Smith Margaret Ekins	Option award (A)	1,001,738	–	–
2026-07-01 filed 2026-07-02	Casale Donn	Option award (A)	898,456	–	–
2026-06-24 filed 2026-06-26	SCHNEIDER PHILLIP M	Option award (A)	30,000	–	–
2026-06-24 filed 2026-06-26	SAUNDERS BRENT L	Option award (A)	30,000	–	–
2026-06-24 filed 2026-06-26	RA Capital Healthcare Fund L	Option award (A)	30,000	–	–

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.

Get the full SPRY picture

The 7-day free trial adds AI daily briefings, sentiment tracking, trial enrollment progress and email alerts for SPRY and every other ticker you follow. Card required, cancel anytime.

Start 7-day free trial →

Data: SEC EDGAR, FDA, ClinicalTrials.gov, Yahoo Finance • Informational purposes only, not investment advice. • All tracked stocks A–Z