Aquestive Q2 2024 Earnings Report
Key Takeaways
Aquestive Therapeutics reported a 52% increase in total revenues to $20.1 million for the second quarter 2024, driven by increases in license and royalty revenue. The company's net loss decreased to $2.7 million, or $0.03 per share, compared to a net loss of $5.8 million, or $0.10 per share, for the second quarter 2023. Cash and cash equivalents were approximately $90 million as of June 30, 2024, and the company reaffirms cash runway into 2026.
Anaphylmâ„¢ (epinephrine) Sublingual Film remains on track for a near-term New Drug Application (NDA) submission to the FDA.
Expanded sales coverage for Libervantâ„¢ (diazepam) Buccal Film for patients between ages two and five with national retail distribution anticipated in the fourth quarter 2024.
Anticipates holding epinephrine prodrug technology investor day in the coming months.
Finishes the second quarter 2024 with cash and cash equivalents of approximately $90 million and reaffirms cash runway into 2026.
Aquestive
Aquestive
Aquestive Revenue by Segment
Forward Guidance
Aquestive is updating its full-year 2024 financial guidance based on second quarter 2024 results and updated outlook for the remainder of 2024.
Positive Outlook
- Total revenue (in millions) $57 to $60
Challenges Ahead
- Non-GAAP adjusted EBITDA loss (in millions) $20 to $23
Revenue & Expenses
Visualization of income flow from segment revenue to net income