The combined company will have ~$265M in cash, cash equivalents & marketable securities upon closing, and $240M in Silverback’s net cash at closing. The merger is expected to close in Q4’22
The combined company will be renamed ARS Pharmaceuticals & listed on the Nasdaq under the ticker symbol “SPRY.” Silverback equity holders will own ~37% & pre-merger ARS equity holders will own ~63% of the combined company on a fully diluted basis on a treasury stock
The combined company will focus on the regulatory approval & commercialization of neffy for type I allergic reactions incl. anaphylaxis. ARS plans to submit neffy’s NDA for use in adults & pediatric patients in Q3’22 with an expected launch in the US in 2023
Ref: Bussinesswire | Image: Silverback Therapeutics
