Aspire Biopharma Holdings, Inc. (ASBP) shares are up over 6% in the premarket. Aspire Biopharma is an early-stage biopharmaceutical company that develops and markets disruptive technology for novel sublingual delivery mechanisms.
The firm's lead candidate is Instaprin, a sublingual aspirin that addresses cardiology emergencies and pain management.
The company is also developing formulations for sublingual products, including a melatonin sleep aid, vitamins D, E, and K, testosterone, and a semaglutide product.
The firm plans to file a New Drug Application (NDA) via the 505(b)(2) pathway near the end of 2026 for its lead Aspirin candidate.
Earlier this Monday, the firm announced a $5 million share repurchase program, according to which the board of directors has authorised the repurchase of up to $5.0 million of the company's common stock.
"Aspire's strengthened financial position provides us with significant flexibility in executing our capital allocation strategy," said Kraig Higginson, Chief Executive Officer.
ASBP has traded between $0.16 and $35 over the last year. The stock closed Tuesday's trade at $0.20, down 14.42%.
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