Aquestive Therapeutics, Inc. AQST R2K
Aquestive Therapeutics, Inc. operates as a pharmaceutical company in the United States and internationally. It offers Libervant, a buccal soluble film formulation of diazepam for the treatment of seizures; Suboxone, a sublingual film formulation of buprenorphine and naloxone for the treatment of opioid dependence; EMYLIF, an oral film formulation of riluzole; ONDIF, an oral soluble film formulation of ondansetron; SYMPAZAN, an oral soluble film formulation of clobazam used for the treatment of seizures associated with a rare, intractable form of epilepsy; KYNMOBI, a sublingual film formulation of apomorphine; and AZSTARYS, an fda-approved, once-daily product for the treatment of ADHD in patients age 6 years or older. The company's proprietary pipeline products include Anaphylm, an epinephrine sublingual film, which is in phase 3 clinical trial for the emergency treatment of allergic reactions, including anaphylaxis; and AQST-108, a topical gel that is in phase 2 clinical trial for the treatment of alopecia areata. In addition, it develops PharmFilm technology for patients suffering from certain central nervous system disorders; and Adrenaverse, an epinephrine prodrug platform. The company was incorporated in 2004 and is headquartered in Warren, New Jersey.
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Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
No notable strengths flagged.
CONS
- Revenue declined at -2.2% CAGR over 5 years.
- Earnings shrank at -18.0% CAGR over 5 years.
- Trading 46.3% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Healthcare).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | AQST Aquestive Therapeutics, Inc. R2K | 4.02 | - | $504.31M | - | -59.11% | - | -2.24% | -18.00% |
| 2 | LLY Eli Lilly and Company SPX | 1,105.00 | 39.21 | $985.37B | 0.63% | 38.44% | 107.46% | 31.69% | 48.96% |
| 3 | JNJ Johnson & Johnson SPX | 225.33 | 26.11 | $542.42B | 2.38% | 23.13% | 26.42% | 5.60% | 14.32% |
| 4 | UNH UnitedHealth Group Incorporated SPX | 380.31 | 28.66 | $345.38B | 2.32% | 9.60% | 12.18% | 11.35% | -15.69% |
| 5 | MRK Merck & Co., Inc. SPX | 118.72 | 33.44 | $293.22B | 2.86% | 20.66% | 18.94% | 3.12% | 7.93% |
| 6 | TMO Thermo Fisher Scientific Inc. SPX | 492.51 | 27.11 | $183.03B | 0.38% | 9.17% | 13.52% | -0.27% | -1.19% |
| 7 | AMGN Amgen Inc. NDXSPX | 336.79 | 23.42 | $181.77B | 2.99% | 18.02% | 101.32% | 11.77% | 5.58% |
| 8 | GILD Gilead Sciences, Inc. NDXSPX | 134.43 | 18.29 | $166.90B | 2.44% | 22.92% | 43.36% | 2.57% | 22.83% |
| 9 | ISRG Intuitive Surgical, Inc. NDXSPXAI | 424.64 | 51.53 | $150.39B | - | 15.96% | 17.23% | 17.39% | 29.26% |
Quarterly Results
Figures in USD.
| Metric | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | 23.41M | 13.93M | 13.27M | 16.82M | 12.64M | 11.13M | 12.42M | 16.42M | 8.77M | 21.68M | 8.26M | 7.15M | 11.12M | 15.35M | 13.29M | 12.27M | 13.27M | 11.46M | 11.13M | 13.24M | 13.00M | 12.05M | 20.10M | - | - | 8.72M | 10.00M | 12.81M | 13.02M | 14.45M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.65M | 4.56M | 4.51M | 5.84M | 3.47M |
| Gross Profit | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.07M | 5.44M | 8.30M | 7.18M | 10.98M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 24.43M | 16.81M | 19.78M | 36.02M | 15.18M |
| Operating Income | - | -4.06M | 10.42M | - | 5.30M | -32.71M | -9.21M | - | -13.07M | -18.69M | -11.00M | - | -13.86M | 395.00K | -13.78M | - | -8.53M | -6.52M | -7.97M | -9.74M | -12.76M | -8.85M | -4.61M | -4.21M | -2.38M | -8.96M | 55.00K | - | - | -19.36M | -11.37M | -11.48M | -28.84M | -4.20M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -18.51M | -9.13M | -11.03M | -27.46M | -4.01M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4.28M | 4.28M | 4.27M | 4.27M | 3.94M |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -22.93M | -13.55M | -15.45M | -31.86M | -8.06M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | -14.00K | - | - | - | - | - |
| Net Income | -1.46M | -5.90M | 8.45M | -10.04M | 4.10M | -36.49M | -15.04M | -13.94M | -14.73M | -20.47M | -18.41M | -12.64M | -16.53M | -2.33M | -16.55M | -20.37M | -14.67M | -12.37M | -14.55M | -13.22M | -16.30M | -12.54M | 8.07M | -5.79M | -2.04M | -12.83M | -2.75M | - | - | -22.93M | -13.55M | -15.45M | -31.86M | -8.06M |
| Diluted EPS | - | - | - | - | - | - | - | - | - | - | - | - | -0.49 | -0.07 | -0.49 | - | -0.41 | -0.33 | -0.37 | -0.32 | -0.36 | -0.23 | 0.11 | -0.10 | -0.03 | -0.17 | -0.03 | - | - | -0.24 | -0.14 | -0.14 | -0.26 | -0.07 |
| R&D Expense | - | 4.84M | 5.68M | - | 4.90M | 7.99M | 4.53M | - | 4.30M | 8.15M | 5.06M | - | 4.35M | 3.85M | 7.26M | - | 3.66M | 4.26M | 4.73M | 4.77M | 5.20M | 3.23M | 3.55M | 3.47M | 3.20M | 5.93M | 4.16M | 5.27M | - | 5.36M | 4.11M | 4.53M | - | 4.20M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | 67.43M | 52.61M | 45.85M | - | 47.68M | 50.58M | 57.56M | 44.55M |
| Cost of Revenue | - | - | - | - | - | 19.39M | 20.83M | 17.87M | 18.55M |
| Gross Profit | - | - | - | - | - | 28.29M | 29.75M | 39.69M | 25.99M |
| Operating Expenses | - | - | - | - | - | 70.36M | 44.85M | 70.46M | 97.04M |
| Operating Income | -113.00K | -48.93M | -52.67M | -42.89M | - | -42.07M | -15.10M | -30.77M | -71.05M |
| EBITDA | - | - | - | - | - | -39.58M | 1.18M | -26.62M | -66.14M |
| Interest Expense | - | - | - | - | - | 12.44M | 7.46M | 16.82M | 17.10M |
| Pretax Income | - | - | - | - | - | -54.41M | -7.62M | -44.15M | -83.78M |
| Tax Provision | - | - | - | - | - | 0 | 245.00K | -14.00K | 0 |
| Net Income | -8.94M | -61.38M | -66.25M | -55.78M | - | -54.41M | -7.87M | -44.14M | -83.78M |
| Diluted EPS | - | - | - | -1.66 | -1.85 | -1.12 | -0.13 | -0.51 | - |
| R&D Expense | 22.13M | 23.11M | 20.57M | 19.89M | 17.05M | 17.48M | 13.10M | 20.28M | 17.19M |
Compounded Sales Growth
| 5 Years: | -2.24% |
| 1 Year: | 65.70% |
Compounded Profit Growth
| 5 Years: | -18.00% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | +48.34% |
| 6 Months: | -33.99% |
| 3 Months: | +0.50% |
| 1 Month: | -0.74% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | - | 43.12M | 86.85M | 78.48M | 62.88M | - | 57.07M | 57.42M | 101.42M | 160.43M |
| Current Assets | - | - | - | - | - | - | 39.89M | 40.97M | 88.22M | 149.27M |
| Cash & Equivalents | 9.21M | 17.38M | 60.60M | 49.33M | 31.81M | - | 27.27M | 23.87M | 71.55M | 121.17M |
| Inventory | - | - | - | - | - | - | 5.78M | 6.77M | 6.04M | 6.17M |
| Receivables | - | - | - | - | - | - | 3.27M | 5.57M | 4.92M | 8.01M |
| Total Liabilities | - | 69.61M | 76.77M | 84.60M | 111.38M | - | 175.62M | 163.91M | 161.58M | 194.09M |
| Current Liabilities | - | 15.35M | 32.95M | 18.55M | 21.10M | - | 39.53M | 18.31M | 18.86M | 47.61M |
| Long Term Debt | - | - | - | 70.00M | 51.50M | - | 33.45M | 27.51M | 32.50M | 27.52M |
| Total Debt | - | - | - | - | - | - | 57.49M | 33.32M | 38.00M | 42.48M |
| Total Equity | -57.20M | -26.50M | 10.08M | -6.12M | -48.50M | - | -118.55M | -106.49M | -60.16M | -33.66M |
| Shares Outstanding | - | - | - | - | - | - | 54.83M | 68.53M | 91.41M | 122.04M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 5.82M | -12.99M | -60.21M | -45.46M | - | -9.82M | -6.38M | -35.76M | -52.43M |
| Investing Cash Flow | -2.07M | -1.82M | -663.00K | -517.00K | - | -2.52M | -995.00K | -159.00K | -562.00K |
| Financing Cash Flow | 4.41M | 58.03M | 49.60M | 28.46M | - | 11.59M | 3.97M | 83.59M | 102.62M |
| Capital Expenditure | -2.07M | -1.82M | -663.00K | -517.00K | - | -2.52M | -995.00K | -159.00K | -562.00K |
| Free Cash Flow | 3.76M | -14.81M | -60.87M | -45.98M | - | -12.34M | -7.38M | -35.92M | -52.99M |
| Net Change in Cash | - | - | - | - | - | -751.00K | -3.40M | 47.67M | 49.62M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | - | - | - | - | - | 59.3% | 58.8% | 69.0% | 58.3% |
| Operating Margin % | - | -72.6% | -100.1% | -93.6% | - | -88.2% | -29.9% | -53.5% | -159.5% |
| Net Margin % | - | -91.0% | -125.9% | -121.7% | - | -114.1% | -15.6% | -76.7% | -188.1% |
| ROE % | 33.8% | -608.9% | 1,082.1% | 115.0% | - | 45.9% | 7.4% | 73.4% | 248.9% |
| ROCE % | -0.4% | -90.8% | -87.9% | -102.7% | - | -239.8% | -38.6% | -37.3% | -63.0% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Bratton Capital Management, LP | 7.82% | 9.81M | $39.44M |
| 2 | Blackrock Inc. | 5.99% | 7.51M | $30.19M |
| 3 | RTW Investments LP | 5.92% | 7.43M | $29.85M |
| 4 | Vanguard Capital Management LLC | 3.54% | 4.44M | $17.86M |
| 5 | Federated Hermes, Inc. | 2.34% | 2.94M | $11.82M |
| 6 | Balyasny Asset Management LP | 2.31% | 2.90M | $11.66M |
| 7 | State Street Corporation | 2.03% | 2.55M | $10.24M |
| 8 | Samsara BioCapital, LLC | 1.99% | 2.50M | $10.05M |
| 9 | Geode Capital Management, LLC | 1.92% | 2.41M | $9.68M |
| 10 | Bank of America Corporation | 1.92% | 2.41M | $9.67M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
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