# EDGAR Filing Document

**Accession Number:** 0001009258
**File Stem:** 0001193805-25-000959
**Filing Date:** 2025-7
**Character Count:** 17537
**Document Hash:** 94a529cc153c7efad52a79fc5781070f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193805-25-000959.hdr.sgml**: 20250701

**ACCESSION NUMBER**: 0001193805-25-000959

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250627

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250701

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)
- **CENTRAL INDEX KEY:** 0001009258

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39756
- **FILM NUMBER:** 251097016

**BUSINESS ADDRESS:**
- **STREET 1:** 345 PARK AVENUE SOUTH, 12TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 2125511600

**MAIL ADDRESS:**
- **STREET 1:** 345 PARK AVENUE SOUTH, 12TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER NAME:**
- **FORMER CONFORMED NAME:** DEERFIELD MANAGEMENT CO
- **DATE OF NAME CHANGE:** 20131114

**FORMER NAME:**
- **FORMER CONFORMED NAME:** DEERFIELD MANAGEMENT CO /NY
- **DATE OF NAME CHANGE:** 19981022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Flynn James E
- **CENTRAL INDEX KEY:** 0001352546

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39756
- **FILM NUMBER:** 251097017

**MAIL ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE
- **STREET 2:** 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Deerfield Private Design Fund III, L.P.
- **CENTRAL INDEX KEY:** 0001603333

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39756
- **FILM NUMBER:** 251097014

**BUSINESS ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-551-1600

**MAIL ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Deerfield Mgmt IV, L.P.
- **CENTRAL INDEX KEY:** 0001713467

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39756
- **FILM NUMBER:** 251097013

**BUSINESS ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-551-1600

**MAIL ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Deerfield Mgmt III, L.P.
- **CENTRAL INDEX KEY:** 0001610540

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1214

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39756
- **FILM NUMBER:** 251097015

**BUSINESS ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-551-1600

**MAIL ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE, 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Deerfield Private Design Fund IV, L.P.
- **CENTRAL INDEX KEY:** 0001680307

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39756
- **FILM NUMBER:** 251097012

**BUSINESS ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** (212)551-1600

**MAIL ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARS Pharmaceuticals, Inc.
- **CENTRAL INDEX KEY:** 0001671858
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 811489190
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 11682 EL CAMINO REAL, SUITE 120
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130
- **BUSINESS PHONE:** 858-771-9307

**MAIL ADDRESS:**
- **STREET 1:** 11682 EL CAMINO REAL, SUITE 120
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Silverback Therapeutics, Inc.
- **DATE OF NAME CHANGE:** 20160412

## Ex-99

Joint Filer Information

---

| | |
|:---|:---|
| Names: | Deerfield Management Company, L.P., Deerfield Mgmt IV, L.P., Deerfield Mgmt III, L.P., Deerfield Private Design Fund IV, L.P., Deerfield Private Design Fund III, L.P.<br>|
| Address: | 345 Park Avenue South, 12th Floor New York, NY 10010 |
| Designated Filer: | James E. Flynn |
| Issuer and Ticker Symbol: | ARS Pharmaceuticals, Inc. [SPRY] |
| Date of Event Requiring Statement: | June 27, 2025 |

---

The undersigned, Deerfield Management Company, L.P., Deerfield Mgmt IV, L.P., Deerfield Mgmt III, L.P., Deerfield Private Design Fund IV, L.P., Deerfield Private Design Fund III, L.P., are jointly filing the attached Statement of Changes in Beneficial Ownership on Form 4 with James E. Flynn with respect to the beneficial ownership of securities of ARS Pharmaceuticals, Inc.

Signatures:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DEERFIELD MANAGEMENT COMPANY, L.P.<br>By: Deerfield UGP, LLC, General Partner<br>By: <u>/s/ Jonathan Isler</u><br> Jonathan Isler, Attorney-In-Fact | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DEERFIELD MGMT IV, L.P.<br>By: J.E. Flynn Capital IV, LLC, General Partner<br>By: <u>/s/ Jonathan Isler</u><br> Jonathan Isler, Attorney-In-Fact |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>DEERFIELD MGMT III, L.P.<br>By: J.E. Flynn Capital, LLC, General Partner<br>By: <u>/s/ Jonathan Isler</u><br> Jonathan Isler, Attorney-In-Fact | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>DEERFIELD PRIVATE DESIGN FUND IV, L.P.<br>By: Deerfield Mgmt IV, L.P., General Partner<br> By: J.E. Flynn Capital IV, LLC, General Partner<br>By: <u>/s/ Jonathan Isler</u><br> Jonathan Isler, Attorney-In-Fact<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DEERFIELD PRIVATE DESIGN FUND III, L.P.<br>By: Deerfield Mgmt III, L.P., General Partner<br> By: J.E. Flynn Capital III, LLC, General Partner<br>By: <u>/s/ Jonathan Isler</u><br> Jonathan Isler, Attorney-In-Fact<br>|  |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[x] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Flynn James E<br><sub>(Last) (First) (Middle)</sub><br>345 PARK AVENUE SOUTH, 12TH FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10010<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ARS Pharmaceuticals, Inc. [ SPRY ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)<br><sub>(Last) (First) (Middle)</sub><br>345 PARK AVENUE SOUTH, 12TH FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10010<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ARS Pharmaceuticals, Inc. [ SPRY ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Deerfield Mgmt III, L.P.<br><sub>(Last) (First) (Middle)</sub><br>345 PARK AVENUE SOUTH, 12TH FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10010<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ARS Pharmaceuticals, Inc. [ SPRY ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Deerfield Private Design Fund III, L.P.<br><sub>(Last) (First) (Middle)</sub><br>345 PARK AVENUE SOUTH, 12TH FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10010<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ARS Pharmaceuticals, Inc. [ SPRY ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Deerfield Mgmt IV, L.P.<br><sub>(Last) (First) (Middle)</sub><br>345 PARK AVENUE SOUTH, 12TH FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10010<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ARS Pharmaceuticals, Inc. [ SPRY ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Deerfield Private Design Fund IV, L.P.<br><sub>(Last) (First) (Middle)</sub><br>345 PARK AVENUE SOUTH, 12TH FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10010<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ARS Pharmaceuticals, Inc. [ SPRY ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2025-06-27 |  | S |  | 370075 | D | 18.46<sup>(1)</sup> | 4887254 | I | Through Deerfield Private Design Fund III, L.P.<sup>(2)(3)</sup> |
| Class A Common Stock | 2025-06-27 |  | S |  | 370074 | D | 18.46<sup>(1)</sup> | 4887254 | I | Through Deerfield Private Design Fund IV, L.P.<sup>(2)(3)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) The price reported in Column 4 represents a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.20 to $18.89, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

(2) This Form 4 is being filed by the undersigned as well as the entities listed on the Joint Filer Information Statement attached as an exhibit hereto (the "Reporting Persons"). Deerfield Mgmt III, L.P. is the general partner of Deerfield Private Design Fund III, L.P. ("Fund III"). Deerfield Mgmt IV, L.P. is the general partner of Deerfield Private Design Fund IV, L.P. (collectively with Fund III, the "Funds"). Deerfield Management Company, L.P. is the investment manager of the Funds. James E. Flynn is the sole member of the general partner of each of Deerfield Mgmt III, L.P., Deerfield Mgmt IV, L.P. and Deerfield Management Company, L.P.

(3) In accordance with Instruction 4 (b)(iv) to Form 4, the entire amount of the Issuer's securities held by the Funds is reported herein. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its indirect pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

**Remarks:**
Jonathan Isler, Attorney-in-Fact: Power of Attorney, which is hereby incorporated by reference to Exhibit 24 to a Form 3 with regard to BiomX Inc. filed with the Securities and Exchange Commission on March 19, 2024 by Deerfield Private Design Fund III, L.P., Deerfield Private Design Fund IV, L.P., Deerfield Mgmt III, L.P., Deerfield Mgmt IV, L.P., Deerfield Management Company, L.P. and James E. Flynn.

**Signature:** /s/ Jonathan Isler, Attorney-in-Fact  
**Date:** 2025-07-01

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**