ARS Pharmaceuticals, Inc. — Director's Dealing 2023

Sep 25, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARS Pharmaceuticals, Inc. (SPRY)
CIK: 0001671858
Period of Report: 2023-09-21

Reporting Person: RA CAPITAL MANAGEMENT, L.P. (Director)
Reporting Person: RA Capital Healthcare Fund LP (Director)
Reporting Person: RA Capital Nexus Fund II, L.P. (Director)
Reporting Person: Kolchinsky Peter (Director)
Reporting Person: Shah Rajeev M. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-09-21	Common Stock	P	2508691	$2.97	Acquired	8365465	Indirect
2023-09-21	Common Stock	P	191309	$3.83	Acquired	8556774	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	902904	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $2.75 to $3.74; the price reported above reflects the weighted average purchase price. The reporting person hereby undertakes, upon request, to provide full information to the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer regarding the number of shares and prices at which these transactions, and all other transactions reported in this Form 4, were effected.

F2: Held directly by RA Capital Healthcare Fund, L.P. (the "Fund").

F3: This transaction was executed in multiple trades at prices ranging from $3.75 to $3.90; the price reported above reflects the weighted average purchase price. The reporting person hereby undertakes, upon request, to provide full information to the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer regarding the number of shares and prices at which these transactions, and all other transactions reported in this Form 4, were effected.

F4: Held directly by the Fund.

F5: Held directly by RA Capital Nexus Fund II, L.P. (the "Nexus Fund II").

F6: RA Capital Management, L.P. (the "Adviser") is the investment manager for the Fund and the Nexus Fund II. The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.