secwatch.observer — SEC 8-K summary
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Issuer:     Aquestive Therapeutics, Inc. (AQST)
CIK:        0001398733
Form:       8-K
Filed at:   2025-05-12T23:59:59+00:00
Accession:  0001628280-25-024659
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aquestive Q1 net loss $22.9M; cuts FY revenue guidance on Libervant setback
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- Total revenue $8.7M, down 28% YoY from $12.1M; net loss $0.24/share vs $0.17 loss last year.
- NDA for Anaphylm submitted; plans Q1 2026 launch if FDA approved; will not appeal Libervant court decision.
- Libervant reclassified to tentative approval; sales/marketing paused; FY revenue guidance cut to $44-50M.
- Non-GAAP adjusted EBITDA loss $17.6M vs $7.2M prior year; cash $68.7M.
- De-emphasizing AQST-108 (alopecia) until after Anaphylm launch to focus resources.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1398733/000162828025024659/0001628280-25-024659-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1398733/000162828025024659/aqst-20250512.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-024659

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