Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $2.9352W HIGH $7.55
Volume
1.69 M
Value Traded
32.29 M
Short % Float
22.85%
+4.6%Week
-4.21%1 Month
+17.73%3 Month
+14.08%6 Month
+18.05%5 Year
-72.62%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
599.95 M
EPS (TTM)
-0.62
P/E Ratio
-
Ent. Value
556.46 M
Total Shares
125.50 M
Float Shares
118.89 M
Insiders
5.28%
Institutions
47.96%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
| Catalyst | Drug / Treatment | Stage | Prob. of Approval | Description | Drug Type | Therapeutic Area | Source |
|---|---|---|---|---|---|---|---|
PDUFA 2026 | Example Drug Treatment for example condition requiring FDA review | Phase 3 | Small Molecule | Oncology | - |
PoA blends historical approval base rates, trial design score and FDA review track record.
AQST Catalyst Timeline
Dated clinical, regulatory and corporate events for Aquestive Therapeutics, Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Aquestive Therapeutics, Inc.
604Total events
10Upcoming
147Tier-1 (high impact)
2018 to 2037Coverage
Upcoming catalysts 2
Event history 50
●NDA SubmissionAnaphylmFiledRegulatory Filing
Aquestive resubmits NDA to FDA for Anaphylm (dibutepinephrine) sublingual film
Type I allergic reactions, including anaphylaxissource ↗
●sNDA SubmissionAnaphylmFiledRegulatory Filing
Resubmission of NDA to FDA for Anaphylm (dibutepinephrine) sublingual film
Type I allergic reactions, including anaphylaxissource ↗
▲Trial CompletionAnaphylmFiledTrial
Completed human factors validation study for Anaphylm
anaphylaxissource ↗
▲Topline ReadoutAnaphylmFiledClinical Data
Topline results from human factors validation study announced
Type 1 allergic reactions, including anaphylaxissource ↗
▲Topline ReadoutAnaphylmFiledClinical Data
Positive topline human factors and PK study results announced
Type I allergic reactions, including anaphylaxissource ↗
●NDA SubmissionAnaphylmFiledRegulatory Filing
Anaphylm NDA resubmission to FDA in Q3 2026
anaphylaxissource ↗
●EU MAA SubmissionAnaphylmFiledEx-US Regulatory
MAA submission for Anaphylm in Europe
severe allergic reactions including anaphylaxissource ↗
◆Quarterly UpdateCorporate
First Quarter 2026 Financial Results and Recent Business Highlights
▲Debt Royalty FinancingCorporate
Entered into $150 million debt facility with Oaktree Capital Management
◆FDA Feedback ReceivedAnaphylmFiledFDA Meeting
Final FDA Type A meeting minutes expected
Type 1 allergic reactions, including anaphylaxissource ↗
◆Management ChangeCorporate
Lori J. Braender steps down as Chief Legal Officer and Chief Compliance Officer, remains as Corporate Secretary
◆Topline ReadoutAQST-108Clinical Data
Data readout from second Phase 1 trial of AQST-108 expected
alopecia areatasource ↗
▲Type A MeetingAnaphylmFiledFDA Meeting
Completed Type A meeting with FDA aligning on study designs for Anaphylm NDA resubmission
Type I allergic reactions, including anaphylaxissource ↗
▲Other Regulator MilestoneAnaphylmFiledEx-US Regulatory
Completed meeting with MHRA for UK regulatory submission
Type I allergic reactions, including anaphylaxissource ↗
●EU MAA SubmissionAnaphylmFiledEx-US Regulatory
Submitted initial Pediatric Investigation Plan (PIP) to EMA
Type I allergic reactions, including anaphylaxissource ↗
▲Trial CompletionAQST-108Trial
Completed AQST-108 phase 1 study in subjects with androgenic alopecia
androgenic alopeciasource ↗
▲Type A MeetingAnaphylmFiledFDA Meeting
Completion of Type A meeting with FDA for Anaphylm NDA resubmission
Type 1 allergic reactions, including anaphylaxissource ↗
◆Type A MeetingAnaphylmFiledFDA Meeting
Type A meeting requested with FDA to discuss CRL path forward
Type I allergic reactions, including anaphylaxissource ↗
◆Oral PresentationPresentation
Management team to participate in four upcoming investor conferences in March
◆Poster PresentationAnaphylmFiledPresentation
Poster presentation at AAAAI 2026: Epinephrine Plasma Concentration and Hemodynamic Threshold Response Following Sublingual Epinephrine Administration
severe allergic reactions including anaphylaxissource ↗
◆Oral PresentationPresentation
Oppenheimer 36th Annual Healthcare Life Sciences Conference presentation
●Oral PresentationPresentation
Dr. Greenhawt to receive AAAAI Distinguished Clinician Award at AAAAI Annual Meeting
▲Oral PresentationAnaphylmFiledPresentation
Presented Anaphylm data at AAAAI Annual Meeting
Type I allergic reactions, including anaphylaxissource ↗
◆PDUFA DateAnaphylmFiledRegulatory Filing
PDUFA action date for Anaphylm NDA
severe allergic reactions including anaphylaxissource ↗
◆AdCom ScheduledAnaphylmFiledAdvisory Committee
Possible Advisory Committee meeting for Anaphylm ahead of PDUFA
epinephrine emergency treatmentsource ↗
▼Complete Response LetterAnaphylmFiledFDA Decision
FDA issued Complete Response Letter for Anaphylm NDA
Type I allergic reactions, including anaphylaxissource ↗
▼Complete Response LetterAnaphylmFiledFDA Decision
FDA identified deficiencies in Anaphylm NDA precluding labeling and post-marketing discussions
severe allergic reactions, including anaphylaxissource ↗
▼Information RequestAnaphylmFiledRegulatory Filing
FDA letter identifying deficiencies precluding labeling discussions for Anaphylm
▼Approval Delay AnnouncedAnaphylmFiledFDA Decision
Approval delayed for Anaphylm beyond PDUFA date
▼FDA Filing AcceptedAnaphylmFiledRegulatory Filing
FDA identified deficiencies in NDA for Anaphylm
severe allergic reactions including anaphylaxissource ↗
▲Trial CompletionAQST-108Trial
Completed dosing in second Phase 1 trial of AQST-108
alopecia areatasource ↗
◆MHRA MilestoneAnaphylmFiledEx-US Regulatory
Expected feedback from MHRA in UK
severe allergic reactions including anaphylaxissource ↗
●NDA SubmissionAnaphylmFiledRegulatory Filing
NDA submission for Anaphylm to Health Canada
severe allergic reactions including anaphylaxissource ↗
●Product LaunchAnaphylmFiledPost-Market
Full product launch of Anaphylm expected end of 2025 or Q1 2026, if approved
severe allergic reactions including anaphylaxissource ↗
▼Complete Response LetterAnaphylmFiledFDA Decision
Received Complete Response Letter from FDA
Type 1 allergic reactions, including anaphylaxissource ↗
◆Oral PresentationPresentation
Aquestive management to participate in Piper Sandler 37th Annual Healthcare Conference
◆Oral PresentationAnaphylmFiledPresentation
Phase 1 Evaluation of Sublingual Film: Pharmacokinetics/Pharmacodynamics Safety Tolerability in at Risk Pediatric Patients
severe allergic reactions including anaphylaxissource ↗
◆Poster PresentationAnaphylmFiledPresentation
Recognizing Unmet Needs in Anaphylaxis Care: Insights from Clinician and Caregiver Surveys
severe allergic reactions including anaphylaxissource ↗
Past FDA Catalysts and PDUFA Decisions
How AQST actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-09-30 | Anaphylm (dibutepinephrine) Sublingual Film (AQST-109) | NDA Submission | NDA |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
C41 / 100
Pipeline Score
$167M
Pipeline Value
$128M
Commercial Value
Overvalued
Valuation Signal
1
Drugs Scored
0.4x
rNPV / MCap
Top 36%
Micro Cap(rank 238 of 660)
Percentile Rank
Aquestive Therapeutics, Inc. carries a moderate pipeline score (41/100), with $836M risk-adjusted pipeline value, led by DESF in Allergic Reaction (Phase 2).
Commercial products (revenue basis: trailing 4 quarters of total revenue (10-K and 10-Q), to Jun 2026) Revenue $54.1M x 2.4 = $128M
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DESF Small moleculeCompletedNCT07703982 | Allergic Reaction | Phase 2 | COMPLETED | 68 | May 21, 2025 |
Clinical Trial Results
Readouts, endpoints and source filings for every AQST program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| Anaphylm™ (epinephrine) Sublingual Film | severe allergic reactions, including anaphylaxis | 2025-06-25 | Elicits Rapid and Consistent Pharmacokinetic and Pharmacodynamic ResponsesRead More | Aquestive Therapeutics to Present Positive Data from Pharmacokinetic and Pharmacodynamic Studies of Anaphylm™ (epinephrine) Sublingual Film at the CFAAR Food Allergy SummitRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| Barber DanielDirector, Officer (President and CEO) | Sell | -25,000 652,317 held | $4.82 | 09/15/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in AQST
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| RTW INVESTMENTS, LP | 0.3 % | 30.89 M | 7.43 M |
AQST Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-10-16 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How AQST ranks across every disease it competes in
Competitive Position is a premium feature
See how AQST ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialAQST News
AQSTAquestive Therapeutics Strengthens Board of Directors with Appointment of Richard Daly
Aquestive Therapeutics has appointed Rich Daly to its Board of Directors, effective October 14, 2026. Daly, a seasoned executive with over 30 years in the life sciences sector, will contribute his extensive experience in commercial launches and organizational development. His addition is seen as a strategic move as the company prepares for the potential launch of its product Anaphylm.
Read more →AQSTAquestive Therapeutics Announces Resubmission of New Drug Application to FDA for Anaphylm™ (dibutepinephrine) Sublingual Film
Aquestive Therapeutics has resubmitted its New Drug Application for Anaphylm™ (dibutepinephrine) sublingual film to the FDA for treating Type I allergic reactions. The resubmission follows positive results from human factors and pharmacokinetic studies. The FDA will determine the classification and review timeline of the resubmission after its initial review.
Read more →AQSTAquestive Therapeutics to Participate in Upcoming September Investor Conferences
Aquestive Therapeutics will participate in four investor conferences in September 2026, including the Wells Fargo Healthcare Conference and the H.C. Wainwright 27th Annual Global Investor Conference. The management team will host meetings and present key information about their innovative medicines. Webcasts of the events will be accessible for 30 days post-conference.
Read more →AQSTAquestive Therapeutics Reports Second Quarter 2026 Financial Results and Provides Business Update
Aquestive Therapeutics has reported its financial results for Q2 2026, highlighting the successful completion of a human factors validation study and a pharmacokinetic study for its Anaphylm sublingual film. The company remains on track to resubmit its New Drug Application (NDA) to the FDA in the third quarter of 2026 and is actively engaging in pre-launch activities.
Read more →AQST▲ +8.9%on this newsshared move
Aquestive Therapeutics Announces Positive Topline Human Factors and Pharmacokinetic Study Results for Anaphylm™ (dibutepinephrine) Sublingual Film
Aquestive Therapeutics announced positive results from its human factors and pharmacokinetic studies for Anaphylm™ (dibutepinephrine) sublingual film. The studies support the planned resubmission of the New Drug Application (NDA) to the FDA in Q3 2026. Key improvements include faster pouch opening and reduced incorrect film placement, enhancing usability for patients at risk of anaphylaxis.
Read more →AQSTAquestive Therapeutics to Report Second Quarter 2026 Financial Results and Recent Business Highlights on August 11 and Host Conference Call on August 12 at 8:00 a.m. ET
Aquestive Therapeutics will report its second quarter 2026 financial results on August 11, 2026, and host a conference call for investors on August 12. The company is focused on advancing its product candidates, including Anaphylm™ and AQST-108, which target severe allergic reactions and dermatological conditions. A live webcast of the call will be available on its website.
Read more →AQSTAquestive Therapeutics to Participate in Leerink Partners Therapeutics Forum: I&I and Metabolism
Aquestive Therapeutics will participate in the Leerink Partners Therapeutics Forum on July 14, 2026, focusing on immunology and metabolism. The management team will also host one-on-one investor meetings. The company is known for its innovative delivery technologies and is advancing treatments for severe allergic reactions and dermatological conditions.
Read more →AQSTAquestive Therapeutics Reports First Quarter 2026 Financial Results and Provides Business Update
Aquestive Therapeutics reported strong financial results for Q1 2026, with a revenue increase of 66% year-over-year. The company reaffirmed its plans to resubmit the Anaphylm NDA in Q3 2026 after a successful FDA Type A meeting. Additionally, AQST-108's phase 1 study showed no safety issues, supporting its potential in treating dermatological conditions. A new $150 million debt facility enhances the company's financial position for upcoming initiatives.
Read more →AQSTAquestive Therapeutics Completes $150 Million Debt Refinancing with Oaktree
Aquestive Therapeutics has successfully refinanced its debt with a new $150 million facility from Oaktree Capital Management. This refinancing will support the potential launch of Anaphylm, an investigational treatment for severe allergic reactions, pending FDA approval. The new agreement reduces the company's principal debt repayments significantly and provides additional capital for growth.
Read more →AQSTAquestive Therapeutics to Report First Quarter 2026 Financial Results and Recent Business Highlights on May 13 and Host Conference Call on May 14 at 8:00 a.m. ET
Aquestive Therapeutics will report its first quarter 2026 financial results on May 13, 2026, and host a conference call for investors on May 14, 2026. The company aims to provide updates on its business developments and product candidates, including Anaphylm and AQST-108. A live webcast will be available for interested parties.
Read more →AQSTAquestive Therapeutics Announces Completion of Type A Meeting with FDA for Anaphylm™ (dibutepinephrine) Sublingual Film
Aquestive Therapeutics has completed a Type A meeting with the FDA regarding the resubmission of its NDA for Anaphylm, a sublingual film for treating Type 1 allergic reactions. The company received valuable feedback on pharmacokinetic and human factor study designs, which will aid in their upcoming studies. The NDA resubmission is planned for Q3 2026, with further regulatory submissions also progressing in Canada and the EU.
Read more →AQSTAquestive Therapeutics Announces New Role of Lori J. Braender and Appointment of Thomas A. Zalewski as Chief Legal Officer and Chief Compliance Officer
Aquestive Therapeutics has appointed Thomas A. Zalewski as Chief Legal Officer and Chief Compliance Officer, effective April 2, 2026. He succeeds Lori J. Braender, who will remain as Corporate Secretary after nearly eight years in her previous roles. Zalewski's extensive experience in life sciences law is expected to support the company's mission, particularly in advancing Anaphylm, an oral epinephrine medication.
Read more →AQSTAquestive Therapeutics Announces Grant of Inducement Award Pursuant to Nasdaq Listing Rule 5635(c)(4)
Aquestive Therapeutics has announced an inducement equity grant for Dr. Matthew Greenhawt, the newly appointed Chief Medical Officer. The grant includes 75,000 Restricted Stock Units and 50,000 non-qualified stock options, which will vest over a period of three years. This award is part of the company's 2022 Equity Inducement Plan and was approved by the Compensation Committee. The grants, scheduled for March 9, 2026, are intended to serve as a significant incentive for Dr. Greenhawt as he joins the company.
Read more →AQSTAquestive Therapeutics Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
Aquestive Therapeutics reported its financial results for Q4 and full year 2025, highlighting progress on Anaphylm, an oral epinephrine medication. The company received a Complete Response Letter from the FDA, necessitating further studies before resubmission. Despite challenges, Aquestive remains optimistic about Anaphylm's potential, bolstered by new leadership and a growing allergy market.
Read more →AQSTAquestive Therapeutics to Participate in Upcoming March Investor Conferences
Aquestive Therapeutics announced its participation in four investor conferences in March 2026. The company aims to showcase its advancements in innovative medicines and delivery technologies. A webcast of the presentations will be available for 30 days post-event. The company is known for its proprietary products and contract development services.
Read more →AQSTAquestive Therapeutics to Report Fourth Quarter 2025 Financial Results and Recent Business Highlights on March 4 and Host Conference Call on March 5 at 8:00 a.m. ET
Aquestive Therapeutics will report its fourth quarter 2025 financial results on March 4, 2026, and host a conference call for investors on March 5, 2026. The company aims to provide updates on recent business developments during this call. Their innovative product pipeline includes treatments for severe allergic reactions and dermatological conditions.
Read more →AQSTAquestive Therapeutics to Participate in Oppenheimer 36th Annual Healthcare Life Sciences Conference
Aquestive Therapeutics will participate in the Oppenheimer 36th Annual Healthcare Life Sciences Conference on February 25-26, 2026. The management team is scheduled to present on February 26 at 12 pm ET and will also conduct one-on-one meetings with investors. A webcast of the presentation will be available for 30 days post-event.
Read more →AQSTAquestive Therapeutics to Present New Clinical Data on Anaphylm™ (dibutepinephrine) Sublingual Film at the 2026 AAAAI Annual Meeting
Aquestive Therapeutics announced that it will present new clinical data on Anaphylm™ (dibutepinephrine) sublingual film at the 2026 AAAAI Annual Meeting. The data highlights Anaphylm's potential to improve anaphylaxis management without the diastolic blood pressure dip associated with traditional epinephrine treatments. The meeting is scheduled for February 27 to March 2, 2026, in Philadelphia, PA.
Read more →AQSTAquestive Therapeutics Appoints Internationally Recognized Allergist Dr. Matthew Greenhawt as Chief Medical Officer
Aquestive Therapeutics has appointed Dr. Matthew Greenhawt as Chief Medical Officer, enhancing its leadership as it prepares to resubmit the Anaphylm NDA to the FDA. Dr. Greenhawt, an expert in allergy and immunology, will leverage his experience to advance the company's clinical pipeline and address barriers to epinephrine use. His appointment is seen as a significant step for the company at this critical juncture.
Read more →AQST▲ +39%on this news
Aquestive Therapeutics Announces FDA Issuance of Complete Response Letter for Anaphylm™
Aquestive Therapeutics announced it received a Complete Response Letter from the FDA for its Anaphylm Sublingual Film application, highlighting human factors issues. The company is optimistic about addressing these concerns and plans to conduct a new validation study. They also aim for rapid resubmission in Q3 2026 while expanding regulatory efforts in international markets.
Read more →About Aquestive Therapeutics, Inc.
Headquarters30 TECHNOLOGY DRIVE, WARREN, NJ, 07059
Founded2004
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