Millennium Management LLC and affiliates reported beneficial ownership of 5,391,440 shares of ARS Pharmaceuticals common stock, representing 5.4%. The filing is a joint Schedule 13G cover dated 03/17/2026 and signed under a Joint Filing Agreement dated 03/23/2026.
The disclosure shows shared voting and shared dispositive power of 5,391,440 shares across Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander.
Positive
None.
Negative
None.
Insights
Large institutional stake disclosed: 5,391,440 shares (5.4%).
The schedule reports shared voting and dispositive power of 5,391,440 shares, equal to 5.4% of the class. This indicates an institutional position reportable under Schedule 13G rather than an active Schedule 13D control disclosure.
Subsequent filings may update holdings; the joint filing agreement is dated 03/23/2026.
Joint filing clarifies group attribution and shared authority.
The disclosure attributes holdings to Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander via a joint filing agreement. The filing states shared voting and dispositive power, not sole control, which is typical for manager-managed entities.
Watch for future amendments if voting/dispositive arrangements change.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ARS Pharmaceuticals, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
82835W108
(CUSIP Number)
03/17/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
82835W108
1
Names of Reporting Persons
Millennium Management LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,391,440.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,391,440.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,391,440.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.4 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
82835W108
1
Names of Reporting Persons
Millennium Group Management LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,391,440.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,391,440.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,391,440.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.4 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
82835W108
1
Names of Reporting Persons
Israel A. Englander
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,391,440.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,391,440.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,391,440.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.4 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
ARS Pharmaceuticals, Inc.
(b)
Address of issuer's principal executive offices:
11682 El Camino Real, Suite 300, San Diego, California 92130
Item 2.
(a)
Name of person filing:
Millennium Management LLC
Millennium Group Management LLC
Israel A. Englander
(b)
Address or principal business office or, if none, residence:
Millennium Management LLC
399 Park Avenue
New York, New York 10022
Millennium Group Management LLC
399 Park Avenue
New York, New York 10022
Israel A. Englander
c/o Millennium Management LLC
399 Park Avenue
New York, New York 10022
(c)
Citizenship:
Millennium Management LLC - Delaware
Millennium Group Management LLC - Delaware
Israel A. Englander - United States
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP Number(s):
82835W108
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See response to Item 9 on each cover page.
(b)
Percent of class:
See response to Item 11 on each cover page.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See response to Item 5 on each cover page.
(ii) Shared power to vote or to direct the vote:
See response to Item 6 on each cover page.
(iii) Sole power to dispose or to direct the disposition of:
See response to Item 7 on each cover page.
(iv) Shared power to dispose or to direct the disposition of:
See response to Item 8 on each cover page.
The securities disclosed herein as potentially beneficially owned by Millennium Management LLC, Millennium Group Management LLC and Mr. Englander are held by entities subject to voting control and investment discretion by Millennium Management LLC and/or other investment managers that may be controlled by Millennium Group Management LLC (the managing member of Millennium Management LLC) and Mr. Englander (the sole voting trustee of the managing member of Millennium Group Management LLC). The foregoing should not be construed in and of itself as an admission by Millennium Management LLC, Millennium Group Management LLC or Mr. Englander as to beneficial ownership of the securities held by such entities.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Exhibit I
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Millennium Management LLC
Signature:
/s/ Gil Raviv
Name/Title:
Gil Raviv, Global General Counsel
Date:
03/23/2026
Millennium Group Management LLC
Signature:
/s/ Gil Raviv
Name/Title:
Gil Raviv, Global General Counsel
Date:
03/23/2026
Israel A. Englander
Signature:
/s/ Israel A. Englander
Name/Title:
Israel A. Englander
Date:
03/23/2026
Exhibit Information
Exhibit I: Joint Filing Agreement, dated as of March 23, 2026, by and among Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander.
What stake does Millennium Management report in ARS Pharmaceuticals (SPRY)?
Millennium Management reports beneficial ownership of 5,391,440 shares, representing 5.4% of ARS Pharmaceuticals common stock, with shared voting and dispositive power disclosed on the Schedule 13G cover page.
Which entities are listed in the Schedule 13G filing for SPRY?
The filing lists Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander as joint filers, with addresses at 399 Park Avenue, New York, and a joint filing agreement dated 03/23/2026.
Does the filing indicate sole voting control over the shares?
No; the filing shows 0 shares of sole voting power and discloses 5,391,440 shares of shared voting and shared dispositive power across the joint filers, indicating shared, not sole, control.
What form was used to disclose the ownership in SPRY?
The ownership was disclosed on a Schedule 13G, a passive investor filing typically used by owners who do not seek control and who meet the form's filing criteria under applicable SEC rules.
When were the Schedule 13G signatures dated for the SPRY filing?
Signatures on the joint filing are dated 03/23/2026, and the cover shows a date of 03/17/2026 associated with the filing information.
