---
schema_version: "secwatch.filing_event.v1"
accession: "0001398733-25-000027"
form_type: "8-K"
ticker: "AQST"
cik: "0001398733"
company_name: "Aquestive Therapeutics, Inc."
filed_at: "2025-11-05T23:59:59+00:00"
generated_at: "2026-05-17T00:13:32.929944+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Aquestive Q3 net loss $15.4M; Anaphylm PDUFA Jan 31, 2026, launch prep ongoing

## Summary
- Total revenue $12.8M (+4% YoY excluding one-time 2024 deferred revenue); net loss $15.4M ($0.14/sh) vs $11.5M loss in Q3 2024.
- Cash $129.1M; full-year 2025 revenue guidance $44-50M, non-GAAP adjusted EBITDA loss $47-51M.
- Anaphylm NDA on track for Jan 31, 2026 PDUFA; FDA will not hold AdCom; US launch planned Q1 2026 if approved.
- Two new Anaphylm patents issued Oct 2025 extending protection to 2037; IND for AQST-108 topical epinephrine gel for alopecia areata on track for Q4 2025.
- Added clinical leadership for AdrenaVerse pipeline; supply chain largely unaffected by tariffs.

## SEC filing metadata
- accession: 0001398733-25-000027
- form_type: 8-K
- ticker: AQST
- cik: 0001398733
- company_name: Aquestive Therapeutics, Inc.
- filed_at: 2025-11-05T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1398733/000139873325000027/0001398733-25-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1398733/000139873325000027/aqst-20251105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001398733-25-000027
- JSON: https://secwatch.observer/filing/0001398733-25-000027.json
- Plain text: https://secwatch.observer/filing/0001398733-25-000027.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.