Aquestive Therapeutics prices $85 million public offering

WARREN, N.J. - Aquestive Therapeutics, Inc. (NASDAQ:AQST) has priced an underwritten public offering of 21,250,000 shares of its common stock at $4.00 per share, the pharmaceutical company announced Thursday. The stock, which has shown strong momentum with a 21% return over the past six months according to InvestingPro data, currently trades near $4.01, suggesting investor confidence in the offering price.

The offering is expected to generate gross proceeds of $85 million before underwriting discounts, commissions, and other expenses. The transaction is scheduled to close on or about August 15, 2025, subject to customary closing conditions. InvestingPro analysis shows the company maintains a healthy liquidity position with a current ratio of 3.53, indicating strong ability to meet short-term obligations.

Aquestive plans to use the net proceeds primarily to advance the launch and commercialization of Anaphylm (epinephrine) Sublingual Film for treating severe allergic reactions, including anaphylaxis, pending FDA approval. Remaining funds will support working capital, capital expenditures, and general corporate purposes.

The offering was led by RTW Investments, LP with participation from several investment firms including Samsara BioCapital, EcoR1 Capital, and Perceptive Advisors. Leerink Partners, Cantor, and Oppenheimer & Co. are serving as joint bookrunning managers.

Aquestive Therapeutics develops orally administered products designed to deliver complex molecules as alternatives to standard treatments. The company currently has four commercialized products marketed by licensees globally and manufactures these licensed products exclusively.

The company is also advancing a late-stage proprietary candidate for treating severe allergic reactions and an earlier-stage epinephrine prodrug topical gel for potential dermatology applications.

The offering is being made pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission, according to the company’s press release statement.

In other recent news, Aquestive Therapeutics Inc. announced its second-quarter 2025 earnings, showing a mixed financial performance. The company reported an earnings per share (EPS) of -$0.14, which exceeded analyst expectations of -$0.17, representing a positive surprise of 17.65%. However, the revenue figures were less favorable, with the company generating $10 million, missing the forecasted $11.32 million by 11.66%. Despite the revenue shortfall, the earnings beat is a notable aspect for investors to consider. The company’s performance reflects a complex financial landscape, with positive earnings juxtaposed against lower-than-expected revenue. These recent developments are crucial for stakeholders evaluating the company’s financial health. Analyst reactions to these results have not been specified, but the earnings surprise may influence future evaluations. Investors will likely be watching for any further updates or strategic shifts from Aquestive Therapeutics.

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