1 unchanged sentence
Market Information
−Removed: On November 8, 2022, Silverback completed its reverse merger with privately-held ARS Pharmaceuticals, Inc.
−Removed: On November 9, 2022, the combined company changed its name to ARS Pharmaceuticals, Inc.
−Removed: Silverback’s shares of common stock were listed on the Nasdaq Global Market from December 4, 2020 through the close of business on November 8, 2022 under the ticker symbol “SBTX.” On November 9, 2022, we began trading on the Nasdaq Global Market under the ticker symbol “SPRY.”
+Added: Our common stock has been listed on the Nasdaq Global Market since December 4, 2020, and has been trading under the ticker symbol “SPRY” since November 9, 2022.
Holders of Common Stock
−Removed: As of March 18, 2024, there were approximately 20 holders of record of our common stock.
+Added: As of March 17, 2025, there were 16 holders of record of our common stock.
Because most of our common stock is held by brokers, nominees, and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders.
7 unchanged sentences
Use of Proceeds
−Removed: On December 3, 2020, Silverback commenced its initial public offering (“IPO”) pursuant to a registration statement on Form S-1 (File No.
+Added: On December 3, 2020, Silverback Therapeutics, Inc.
+Added: (“Silverback”) commenced its initial public offering (“IPO”) pursuant to a registration statement on Form S-1 (File No.
333-250009) that was declared effective by the SEC on December 3, 2020, for 11,500,000 shares of its common stock for sale to the public at a price of $21.00 per share.
9 unchanged sentences
Treasury securities.
−Removed: Through December 31, 2023, approximately $161.6 million of the net proceeds from the IPO have been used, of which, (i) an estimated $51.7 million was used toward development of Silverback’s product candidates, (ii) $0.8 million was used to repay outstanding indebtedness, (iii) $16.0 million was used for transaction costs related to the Merger, including $7.0 million in severance and change in control benefit payments made to Silverback’s former officers, (iv) an estimated $47.0 million was used for the development and pre-commercial launch activities related to neffy , and (v) an estimated $46.0 million was used for working capital and general corporate purposes.
+Added: Through December 31, 2024, approximately $243.0 million of the net proceeds from the IPO have been used, of which, (i) an estimated $51.7 million was used toward development of Silverback’s product candidates, (ii) $0.8 million was used to repay outstanding indebtedness, (iii) $16.0 million was used for transaction costs related to the Merger, including $7.0 million in severance and change in control benefit payments made to Silverback’s former officers, (iv) an estimated $65.4 million was used for development and pre-commercial launch activities related to neffy , (v) an estimated $78.1 million was used for working capital and general corporate purposes, and (vi) an estimated $31.0 million was used for commercial-related activities.
There have been no updates to the planned use of proceeds information from the IPO as described in our final prospectus filed with the SEC pursuant to Rule 424(b)(4) on December 4, 2020, except as otherwise disclosed in our Annual Report on Form 10-K, filed with the SEC on March 31, 2022, and our Quarterly Report on Form 10-Q, filed with the SEC on August 11, 2022.
−Removed: We continue to intend to use the remaining net proceeds from the IPO, together with our existing cash and cash equivalents, to fund the development and, if approved, commercialization of neffy for the emergency treatment of Type I allergic reactions and other indications, as well as for working capital and other general corporate purposes.
+Added: We intend to use the remaining net proceeds from the IPO, together with our existing cash and cash equivalents, to fund the manufacture and commercialization of neffy for the emergency treatment of Type I allergic reactions and other indications, if approved, as well as for working capital and other general corporate purposes.
We may also use a portion of the net proceeds from the IPO to license, acquire or invest in complementary businesses, technologies, products or assets.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.