SPRY News & Events

The company states: "ARS Pharmaceuticals announced a CEO succession, in which co-founder and CEO Richard Lowenthal will no longer serve as an employee and officer of the company effective July 6, 2026. The Board has appointed Donn Casale, currently President, as CEO and Director effective July 7, 2026. Mr. Casale brings more than 25 years of biopharmaceutical business and commercial leadership, with a track record of scaling innovative products in large, patient-driven healthcare markets. Prior to ARS Pharma, he served as Chief Commercial Officer at Dynavax Technologies, where he built the U.S. commercial infrastructure and helped scale the hepatitis B vaccine HEPLISAV-B(R) from launch to more than $300 million in annualized revenue and over 50% U.S. market share, positioning the company for Sanofi's $2.2B acquisition."

The tech sector remained under pressure on Wednesday as investors continued to flock to the safety of counter-cyclical areas of the market such as Utilities and Health Care.  Energy lagged as continued signs of a Middle East de-escalation and progress in Strait of Hormuz reopening has pulled the price of WTI Crude Oil futures below $70 per barrel.The evening session and a blowout earnings report from Micronhas manifested a sea change in sentiment and the likelihood of a snap-back rally in the AI trade on Thursday.  Shares of the memory maker were up over 14%, nearly erasing all of yesterday's broadbased losses.  The strong results from Micron also put a bid under the other semiconductor and memory names.  Elsewhere, a robust medium-term outlook from Qualcommwith a higher non-handset revenue target of $40B further relieved the tensions regarding valuations in Semis.  Late in afterhours, S&P e-minis are up 10.6% and Nasdaq 100 contract is up 2.0%.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Micronup 14.4%; Other semis and memory names broadly up in sympathy: Lam Researchup 6.5%, Rambusup 6.8%, Arm Holdingsup 6.7%, Sandiskup 11.1%, Western Digitalup 10.9%.Methode Electronics, Inc.up 14.4%ALSO HIGHER -Qualcommup 12.9% after disclosing medium-term targetsNETSTREITup 5.8% after entering S&P SmallCap 600 indexFormFactor, Inc.up 5.2% after being added to Russell 1000 indexDOWN AFTER EARNINGS -MillerKnolldown 4.9%Trip.com Group Limiteddown 4.3%H.B. Fullerdown 1.9%Jefferiesdown 1.6%ALSO LOWER -ARS Pharmaceuticalsdown 23.8% after commercial update on neffyTaysha Gene Therapiesdown 7.8% after equity offeringCG Oncology, Inc.down 5.4% after block trade

ARS Pharmaceuticals provided an update on payer access for neffy epinephrine nasal spray and an updated financial outlook for 2026 and 2027. Despite certain payer discussions ongoing until mid-June, based on recent feedback, no new commercial formulary additions or coverage decisions have been issued for neffy in the July 1 cycle. ARS Pharma intends to continue working with the remaining payers, and notes that neffy remains broadly accessible to commercially insured patients with the combination of direct coverage and a recently introduced retail cash option at a price consistent with other epinephrine products. Demand has continued to grow independent of additional coverage additions, according to the company. State Medicaid coverage has expanded with Florida adding neffy to its unrestricted Medicaid formulary effective July 1. The company has reduced its planned FY26 cash-based operating expenses, excluding cost of goods sold, to approximately $248M, reflecting prioritized commercial investment and enhanced cost discipline in the second half of 2026. Combined with continued growth in the neffy base business, the company reaffirms that its base business provides a path to reach cash-flow breakeven in 2027.