SAN DIEGO – ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), a pharmaceutical company specializing in drug preparations, announced the results of its Annual Meeting of Stockholders held on Thursday. The shareholders elected three Class I directors and ratified the appointment of Ernst & Young LLP as the company's independent auditor for the current fiscal year.
The election saw stockholders cast their votes for three nominees to serve as Class I directors until the 2027 Annual Meeting of Stockholders. Dr. Rajeev Dadoo received 68,926,825 votes for his election, with 3,495,706 votes withheld and 7,640,268 broker non-votes. Michael Kelly was elected with 67,689,553 votes for, 4,529,561 votes withheld, and 7,843,685 broker non-votes. Dr. Pratik Shah was elected with 66,262,274 votes for, 5,956,840 votes withheld, and 7,843,685 broker non-votes.
In addition to the election of directors, the stockholders ratified the selection of Ernst & Young LLP as the independent registered public accounting firm for ARS Pharmaceuticals for the fiscal year ending December 31, 2024. The proposal was approved with a significant majority of 79,993,516 votes for, 32,172 votes against, and 37,111 abstentions.
ARS Pharmaceuticals, previously known as Silverback Therapeutics, Inc., is incorporated in Delaware and based in San Diego, California. The company's fiscal year end is on December 31, and it operates under the organization name 03 Life Sciences. As of the record date for the Annual Meeting, April 24, 2024, there were 96,894,394 shares of common stock outstanding and entitled to vote.
The company's President and Chief Executive Officer, Richard Lowenthal, M.S., MSEL, signed off on the SEC filing, confirming the accuracy of the report. This statement is based on the information provided in the 8-K filing with the Securities and Exchange Commission.
In other recent news, ARS Pharmaceuticals has been actively pursuing regulatory approvals for its investigational epinephrine nasal spray, neffy®. The company has submitted responses to both the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA), addressing their respective concerns and providing updated study data.
These recent developments include the completion of a clinical study assessing neffy's repeat doses under nasal allergen challenge conditions and confirmation of no measurable levels of nitrosamines. The EMA is expected to issue its opinion on neffy's Marketing Authorization Application in the second quarter of 2024.
In addition to these regulatory efforts, ARS Pharmaceuticals has entered into an exclusive licensing deal with CSL (OTC:CSLLY) Seqirus for the commercialization of neffy in Australia and New Zealand. Under this agreement, ARS Pharma will receive an upfront payment and is eligible for milestone payments upon achieving certain events.
The company has also responded to the FDA's Complete Response Letter with updated data from a repeat dose pharmacokinetic/pharmacodynamic study of neffy. The FDA's review period for the resubmission is up to six months, with a target action date set for October 2, 2024. These activities underline ARS Pharmaceuticals' commitment to developing products to protect patients from severe allergic reactions.
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