The submission of a comprehensive response to the FDA's CRL by ARS Pharmaceuticals, which is associated with SPRY, addresses critical regulatory feedback and presents positive study results. This action is likely to be viewed positively by investors and could lead to increased investor confidence in SPRY's ability to navigate regulatory processes and bring neffy to market. The positive data from the repeat dose PK/PD study under NAC conditions and the updated testing showing no measurable nitrosamine levels, in line with the latest FDA guidance, further bolster the case for a potential approval.