ARS Pharmaceuticals rises as FDA panel votes in favor of nasal spray

Hanall Biopharma

12/05/2023 15:40

(Updates)
    ** Shares of biopharma co ARS Pharmaceuticals Inc  SPRY.O 
rise more than double to $9.67 - an over 18-month high; among
top pct gainers across U.S. exchanges
    ** Stock set for its biggest one-day pct gain ever
    ** Top pct gainer on Nasdaq biotech index  .NBI 
    ** Co late of Thursday said a panel of advisers to the U.S.
FDA voted in favor of its nasal spray for use in adults and for
children above 30 kg in weight 
    ** The panel voted 16 to 6 in favor of use of the nasal
spray in adults, and 17 to 5 in favor of children 
     ** Co has submitted the application for its epinephrine
nasal spray, neffy, for the treatment of allergic reactions
including anaphylaxis, a severe and potentially life-threatening
allergic reaction
     ** If approved, neffy will become the first needle-free
epinephrine product for the treatment of severe allergic
reactions - co
   ** FDA's decision anticipated in mid-2023, the health
regulator is not obligated to follow the recommendations of the
panel but typically does so
    ** Stock down ~2% YTD
    

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))