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Dec 31, 2022
Aquestive Q4 2022 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2022, and provided a progress update on the key 2023 objectives.
Key Takeaways
Aquestive Therapeutics reported a decrease in total revenues for Q4 2022, with a net loss of $12.4 million, but showed progress in financial turnaround actions including debt reduction and securing non-dilutive capital. The company is focused on advancing AQST-109, working with the FDA for Libervant, expanding manufacturing capabilities, and strengthening its balance sheet.
Pivotal study for AQST-109 (epinephrine sublingual film) on track to start in third quarter 2023.
Financial turnaround actions on track including 18% reduction of outstanding debt and the receipt of $20 million of non-dilutive capital in the first quarter of 2023.
Continues to engage FDA on next steps for Libervant™ (diazepam) Buccal Film.
Provides full year 2023 financial outlook.
Aquestive
Aquestive
Aquestive Revenue by Segment
Revenue by Segment
Manufacture and Supply Revenue
CapyFin.com Forward Guidance
Aquestive is providing its full year 2023 financial outlook. The Company expects:
Positive Outlook
- Total revenue (in millions)$37 to $41
- GuidanceTotal revenue (in millions)$37 to $41
- Non-GAAP adjusted EBITDA loss (in millions)$31 to $36
- manufacturing and supply revenue and royalty fees
- includes continued focused R&D investments related to the development of AQST-109.
Challenges Ahead
- revenue guidance for 2023 no longer includes proprietary net sales for Sympazan due to the license of Sympazan to Assertio
- but it does include manufacturing and supply revenue and royalty fees.
- In addition, the guidance for 2023 includes continued focused R&D investments related to the development of AQST-109.
- Please note the Company's revenue guidance for 2023 no longer includes proprietary net sales for Sympazan due to the license of Sympazan to Assertio
- In addition, the guidance for 2023 includes continued focused R&D investments related to the development of AQST-109.