Aquestive Q4 2022 Earnings Report
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 Libervantâ„¢ (diazepam) Buccal Film.
Provides full year 2023 financial outlook.
Aquestive
Aquestive
Aquestive Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income