The Dow Jones closed higher by more than 40 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

ARS Pharmaceuticals

• The Trade: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Rajeev Shah acquired a total of 2,700,000 shares an average price of $3.03. To acquire these shares, it cost around $8.18 million.
• What’s Happening: The FDA issued a Complete Response Letter regarding ARS Pharmaceuticals’ New Drug Application (NDA) for neffy (epinephrine nasal spray) in the treatment of Allergic Reactions (Type I), including anaphylaxis (fatal allergic reaction) for adults and children ≥30 kg.
• What ARS Pharmaceuticals Does: ARS Pharmaceuticals Inc is a biopharmaceutical company focused on the development of novel, potentially first-in-class product candidate, neffy (previously referred to as ARS-1) for the emergency treatment of Type I allergic reactions, including anaphylaxis.

Crexendo

• The Trade: Crexendo, Inc. (NASDAQ:CXDO) Director Anil Puri acquired a total of 5,000 shares at an average price of $2.09. To acquire these shares, it cost around $10,445.
• What’s Happening: Crexendo posted upbeat second-quarter results.
• What Crexendo Does: Crexendo Inc is a provider of cloud communications, UCaaS, call center, collaboration services, and other cloud business services.

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