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Dilution profile // every instrument, one screen, from SEC filings

ARS Pharmaceuticals, Inc. (SPRY)

CIK 1671858 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-3ASR on file 2025-01-31
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
LOW+4% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
MEDIUM~14.1 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2021-05-102026-05-13

Latest: 99.3M shares as of May 13, 2026 (10-Q).

Cash runway

Funded — but tight

~14 months of cash · watch

Full breakdown: cash runway tool · source filing →

Warrants

Balance-sheet fair value of warrants: $0 as of Dec 31, 2022.

Down-round (price protection) accounting has been tagged in this filer’s XBRL: some instrument carries repricing protection. Which tranche requires reading the exhibits.

Convertible notes

No convertible-note facts tagged in the 10-Q filed May 15, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Registrations and offerings

S-3ASRJan 31, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 0 registered.

REGISTEREDJan 31, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →
EFFECTIVEMay 3, 2023SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDApr 20, 2023S-3 registration — capacity to sell shares, not a sale yetS-3 →
EXECUTEDNov 8, 2022Unregistered share sale disclosed (8-K item 3.02)8-K →
EFFECTIVEJan 13, 2022SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDJan 3, 2022S-3 registration — capacity to sell shares, not a sale yetS-3 →
EXECUTEDDec 4, 2020Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4 →
REGISTEREDDec 3, 2020S-1/A registration — capacity to sell shares, not a sale yetS-1/A →
REGISTEREDDec 3, 2020S-1MEF registration — capacity to sell shares, not a sale yetS-1MEF →
EFFECTIVEDec 3, 2020SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDNov 30, 2020S-1/A registration — capacity to sell shares, not a sale yetS-1/A →
REGISTEREDNov 10, 2020S-1 registration — capacity to sell shares, not a sale yetS-1 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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