Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed ARS Pharmaceutic (SPRY)

NEW YORK, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired ARS Pharmaceuticals Inc. (ARS Pharm. or the “Company”) (NASDAQ: SPRY) securities between March 9, 2026 and June 24, 2026, inclusive (the “Class Period”).

The Complaint alleges that defendants provided investors with material information concerning ARS's expected timeline for expanded insurance coverage for its epinephrine nasal spray, neffy, with CVS Caremark. Additionally, the Complaint alleges that 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. Further, the Complaint alleges 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.

The Complaint also 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 proposed 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. The Complaint further alleges that 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.

Investors who purchased or otherwise acquired shares of ARS Pharm. should contact the Firm prior to the October 4, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.