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Sep 30, 2023
Aquestive Q3 2023 Earnings Report
Reported financial results for the third quarter and provided a business update.
Key Takeaways
Aquestive Therapeutics reported a 42% increase in revenue, excluding the impact of prior year proprietary sales of Sympazan, driven by higher revenue from out-licensed products. The company's net loss decreased, and non-GAAP adjusted EBITDA loss improved compared to the prior year.
Reiterated commencement of pivotal PK study for Anaphylm expected in Q4 2023 with topline data targeted for Q1 2024.
Completed debt refinancing resulting in approximately $28 million of cash savings through June of 2025.
Reported 25% year-over-year growth in year-to-date revenue adjusted for the out-license of Sympazan.
Raised full year 2023 revenue guidance to $47-$50 million and improved non-GAAP adjusted EBITDA loss guidance.
Forward Guidance
Aquestive is updating its full-year 2023 financial guidance based on third quarter 2023 results and updated outlook for the remainder of 2023.
Positive Outlook
- Total revenue (in millions) $47 to $50
Challenges Ahead
- Non-GAAP adjusted EBITDA loss (in millions) $14 to $17
Historical Earnings Impact
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Avg. Return Before/After Earnings
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