Aquestive Therapeutics prices $85 million stock offering

Aquestive Therapeutics Inc. (NASDAQ: AQST) announced the pricing of an underwritten offering of 21.25 million shares of common stock at $4.00 per share. The pharmaceutical company expects gross proceeds of $85 million before deducting underwriting discounts and commissions.

The company plans to use net proceeds from the offering, along with existing cash, primarily to advance the launch and commercialization of Anaphylm (epinephrine) Sublingual Film for treating severe allergic reactions, including anaphylaxis, pending FDA approval. Additional funds will support working capital, capital expenditures and general corporate purposes.

The offering was led by RTW Investments and included participation from Samsara BioCapital, EcoR1 Capital, Perceptive Advisors, Sio Capital Management, ADAR1 Capital Management, and Nantahala Capital.

Leerink Partners, Cantor, and Oppenheimer & Co. are serving as joint bookrunning managers. H.C. Wainwright & Co. is acting as lead manager, while Brookline Capital Markets serves as co-manager.

The offering is expected to close on August 15, 2025, subject to customary closing conditions. The securities are being sold under a shelf registration statement previously filed with the Securities and Exchange Commission and declared effective on April 23, 2024.

Warren, New Jersey-based Aquestive develops pharmaceutical products using delivery technologies and has four commercialized products marketed by licensees. The company is advancing a late-stage product candidate for severe allergic reactions treatment and an epinephrine prodrug topical gel for dermatology conditions.

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