Robbins LLP says ARS investors filed suit over neffy coverage timing
Robbins LLP says investors in ARS Pharmaceuticals may have claims after the company said expanded CVS Caremark coverage for neffy was delayed until 2027.
Robbins LLP says a securities class action has been filed against ARS Pharmaceuticals Inc. over claims the company misled investors about when expanded CVS Caremark insurance coverage for its epinephrine nasal spray neffy would begin.
The law firm said the case covers investors who bought or otherwise acquired ARS securities between March 9, 2026, and June 24, 2026. It said investors who suffered losses during that period may have legal rights and identified Oct. 5, 2026, as the lead-plaintiff deadline.
According to the complaint summarized in the release, investors were told coverage through CVS Caremark was expected to start July 1, 2026, and would be in place for the summer and back-to-school allergy seasons. Robbins LLP said the plaintiff alleges the company did not adequately disclose the risk that coverage might not be available by that date.
Robbins LLP said the issue came to light after the market closed on June 24, 2026, when ARS said it had not received expanded CVS Caremark coverage by the guided July 1 deadline. The release said ARS also stated CVS Caremark had reserved its decision until January 2027.
ARS describes itself as a clinical-stage biopharmaceutical company focused on developing and commercializing neffy, a needle-free intranasal epinephrine treatment for emergency Type 1 allergic reactions, including anaphylaxis.
The release said ARS common stock fell from a June 24, 2026 closing price of $10.54 to $8.02 the next day, a drop of more than 23.9% in one day. The source text lists that second date as June 25, 2025, which appears internally inconsistent.
Robbins LLP said it handles these matters on a contingency-fee basis, meaning investors do not pay attorneys’ fees or litigation expenses unless there is a recovery. The release also included a statement from founding partner Brian J. Robbins saying companies should be governed responsibly, fiduciaries should be held accountable, and shareholders deserve transparency and fairness.
Investors who want to seek lead-plaintiff status must contact the firm before Oct. 5, 2026, according to the release. The source material does not say how ARS has responded to the allegations in the lawsuit itself.
Sources
Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.
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