SPRY Investor Alert: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Lawsuit Against ARS Pharmaceuticals Inc.

SAN DIEGO, Aug. 7, 2026 /PRNewswire/ -- Robbins LLP reminds shareholders that a securities class action has been filed on behalf of all investors who purchased or otherwise acquired ARS Pharmaceuticals Inc. (NASDAQ: SPRY) securities between March 9, 2026 and June 24, 2026 (the "Class Period"). ARS is a clinical stage biopharmaceutical company focused on the development and commercialization of neffy for needle-free intranasal delivery of epinephrine for emergency treatment of Type 1 allergic reactions, including anaphylaxis.

Investors who suffered losses during the Class Period may have legal rights. If you want to seek appointment as lead plaintiff, contact Robbins LLP prior to the October 5, 2026 lead plaintiff deadline.

Why Was ARS Pharmaceuticals Sued?

According to the complaint, defendants provided investors with material information concerning ARS's expected timeline for expanded insurance coverage for its epinephrine nasal spray, neffy, with CVS Caremark. Defendants' statements included, among other things, confidence that this coverage would begin on July 1, 2026, and be in place for the summer and back-to-school allergy seasons. Plaintiff contends that defendants provided these overwhelmingly positive statements to investors while, at the same time, failing to adequately disclose the risk that the expanded insurance coverage may not be available by the July 1 deadline, and thus, ARS would not have the expanded insurance coverage for neffy with CVS Caremark for the summer and back-to-school seasons.

Why Did ARS Stock Collapse?

Plaintiff alleges that the truth emerged on June 24, 2026, after the market closed, when ARS published a press release announcing that the Company did not receive expanded insurance coverage for neffy through CVS Caremark by the guided July 1, 2026 deadline, which meant that ARS did not have expanded insurance coverage for neffy for the summer or back-to-school allergy seasons. ARS stated that CVS Caremark reserved its decision on the expanded insurance coverage for neffy until January 2027. On this news, the price of ARS's common stock declined from a closing market price of $10.54 per share on June 24, 2026 to $8.02 per share on June 25, 2025, a decline of over 23.9% in the span of just a single day.

Who May Be Eligible?

The lawsuit seeks to represent investors who purchased or otherwise acquired ARS Pharmaceuticals Inc. securities during the applicable Class Period.

If you purchased ARS Pharmaceuticals Inc. stock during this period and suffered investment losses, you may have rights under the federal securities laws.

What Is a Lead Plaintiff?

The lead plaintiff is the investor appointed by the court to represent the interests of the proposed class throughout the litigation. Investors do not have to serve as lead plaintiff to potentially share in any recovery if the lawsuit is successful.

Shareholders who wish to serve as lead plaintiff must seek appointment by October 5, 2026.

Does it cost anything to participate?

No. Robbins LLP represents investors on a contingency fee basis. Investors never pay attorneys' fees or litigation expenses. If there is a recovery, defendants pay fees and expenses.

Contact Robbins LLP

Investors seeking additional information about the ARS Pharmaceuticals Inc. securities class action may submit an inquiry through Robbins LLP's website, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

About Robbins LLP

A recognized leader in shareholder rights litigation, Robbins LLP has helped restore more than $1 billion in value to shareholders, secured some of the largest recoveries in shareholder derivative litigation history, and achieved governance reforms at over 400 Fortune 1000 companies. 

"Behind everything we do is the belief that companies should be governed responsibly, fiduciaries should be held accountable, and shareholders deserve transparency and fairness," said Brian J. Robbins, Founding Partner of Robbins LLP.

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SOURCE Robbins LLP