ARS Pharma rises on surprise Q4 profit

Drug developer ARS Pharmaceuticals' SPRY.O shares rise 18.8% to $13.84

Co reports Q4 net income of $49.9 million vs. loss estimate of $14.4 million, according to data compiled by LSEG

Co posts Q4 revenue of $86.6 million, beating analysts' estimates of $15.8 million

Profit boosted by partnership revenue from drug developer ALK-Abelló to commercialise allergic reaction nasal spray, neffy, in Europe, Canada and outside of U.S.

SPRY received a non-refundable, upfront cash payment of $145 million from ALK and, of the total cash payment, $73.5 million was included in SPRY's Q4 revenue

Up to last close, SPRY had risen 37.7% in the past 12 months