Microcap Ledger

Tickers · $AQST

Aquestive Therapeutics, Inc. $AQST

By Microcap Ledger desk · CIK 0001398733

Facts as of . Built from SEC filings and our own data. Small caps move fast; check the latest filings.

Snapshot

Exchange
Nasdaq Global Market
Sector
Pharmaceutical Preparations
Headquarters
Warren, NJ
Fiscal year end
December 31
Shares outstanding
125,511,648 [10-Q 2026-08-11]
as of 2026-08-07

Sources: [10-K 2026-03-04]

What the company doesAI summary of filing

Aquestive Therapeutics is a pharmaceutical company that develops and manufactures drug products using proprietary delivery technologies. The company has four licensed commercial products manufactured at its facilities and marketed by licensees globally, generating $44.5 million in revenue in 2025. Aquestive is advancing late-stage proprietary products including Anaphylm, an oral film formulation of an epinephrine prodrug for severe allergic reactions, which received a Complete Response Letter from the FDA in January 2026, and Libervant, a buccal film formulation of diazepam for seizure treatment, whose FDA approval was vacated in February 2025 due to ongoing orphan drug exclusivity litigation. The company also develops earlier-stage product candidates using its PharmFilm oral film technology platform and AdrenaVerse epinephrine prodrug platform. [10-K 2026-03-04]

Segments: Anaphylm (epinephrine prodrug sublingual film), Libervant (diazepam buccal film), Licensed products (Suboxone, Sympazan, Emylif, Ondif), AQST-108 (epinephrine topical gel)

Financial health

From XBRL company facts (USD)
PeriodRevenueNet incomeOperating cash flowCashFiling
6 months to Jun 2026$28.27M−$30.92M −$24.25M$98.49M[10-Q 2026-08-11]
FY ended Dec 2025$44.55M−$83.78M −$52.43M$121.17M[10-K 2026-03-04]
FY ended Dec 2024$57.56M−$44.14M −$35.76M$71.55M[10-K 2026-03-04]
Quarterly cash burn
−$12.12M
Cash runway Estimate
~24.4 months

Estimate: cash at the end of the period (6 months to Jun 2026) divided by the average monthly operating cash outflow over that period. Ignores any cash raised or spent since, and any financing.

Capital structure and dilution

Summary only. How these instruments work: Dilution & financing desk.

Share count
DateShares outstandingFiling
2024-11-0191,178,193[10-Q 2024-11-04]
2025-03-0398,871,369[10-K 2025-03-05]
2025-05-0899,327,928[10-Q 2025-05-12]
2025-08-0799,723,635[10-Q 2025-08-11]
2025-11-03122,003,113[10-Q 2025-11-05]
2026-03-02122,045,049[10-K 2026-03-04]
2026-05-11125,450,119[10-Q 2026-05-13]
2026-08-07125,511,648[10-Q 2026-08-11]
Shelf registration
S-3 filed 2026-06-26; declared effective 2026-07-08 [S-3 2026-06-26]

Listing status

Current status: No Form 8-K Item 3.01 (listing notice) filings in the last 24 months, as of 2026-10-11.

More on deficiency notices and uplistings: Listing status desk.

Who owns it

Recent Form 4 transactions
DateInsiderTypeSharesPriceFiling
2026-09-15Barber Danielsell25,000$4.82[4 2026-09-16]
2026-09-09Korczynski Sherryexercise8,750$2.65[4 2026-09-11]
2026-09-09Korczynski Sherrysell8,750$5.22[4 2026-09-11]
2026-09-09Boyd Peter E.other2,293$0.96[4 2026-09-10]
2026-09-08Barber Danielother91,743$0.96[4 2026-09-09]
2026-09-03Jung Cassieother4,587$0.96[4 2026-09-08]
2026-08-17Barber Danielsell25,000$4.29[4 2026-08-18]
2026-08-14Korczynski Sherryother2,714$4.25[4 2026-08-17]
2026-07-16Barber Danielsell20,369$4.00[4 2026-07-17]
2026-07-15Barber Danielsell4,631$4.03[4 2026-07-17]

Catalysts and calendar

Facts as of . Small caps move fast; check the latest filings.