Business Summary
Aquestive Therapeutics is a specialty pharmaceutical company focused on developing and manufacturing oral film-based drug delivery products and epinephrine prodrug formulations. The company generates revenue through manufacturing fees and royalties from licensed commercialized products (primarily Suboxone sublingual film for opioid dependence) and is advancing its own pipeline led by Anaphylm, a sublingual film epinephrine prodrug for anaphylaxis treatment. It is the worldwide leader in oral film drug delivery, having shipped over 2 billion prescription film doses.
Products & Services
- PharmFilm Technology Platform: Proprietary oral film drug delivery platform enabling buccal, sublingual, or lingual administration as alternatives to injections, tablets, and nasal sprays
- Anaphylm (dibutepinephrine) sublingual film (pipeline): Non-device, orally delivered epinephrine prodrug for emergency treatment of anaphylaxis; NDA received Complete Response Letter in Jan 2026 focused on packaging/labeling human factors; resubmission estimated Q3 2026
- AQST-108 (epinephrine) topical gel (pipeline): Topical adrenergic agonist prodrug...
AI-generated summary of Item 1 (Business) from the 10-K filed Mar 4, 2026 — View filing on SEC.gov. May contain errors — refer to the filing for authoritative information.
Across SEC filings
Institutional holders · 13F
Q2 2026| Largest holders | Reported value |
|---|---|
| Bratton Capital Management L P | $40.8M |
| BlackRock Inc | $33.6M |
| RTW INVESTMENTS LP | $30.9M |
| VANGUARD CAPITAL MANAGEMENT LLC | $19.1M |
| FEDERATED HERMES INC | $12.9M |
Annual results · 10-K
Fiscal 2025- Revenue
- $44.5M
- Net loss
- -$83.8M
As reported in the fiscal 2025 annual report.
Funds & ETFs · N-PORT
116 funds| Fund | Value | % of fund |
|---|---|---|
| VANGUARD TOTAL STOCK MARKET INDEX FUND VTI | $14.2M | < 0.01% |
| iShares Russell 2000 ETF IWM | $11.7M | 0.01% |
| Federated Hermes MDT Small Cap Core Fund | $5.1M | 0.23% |
| VANGUARD EXTENDED MARKET INDEX FUND | $4.5M | < 0.01% |
| Fidelity Small Cap Index Fund | $4.3M | 0.01% |
| State Street(R) SPDR(R) S&P(R) Pharmaceuticals ETF XPH | $3.3M | 0.76% |
| VANGUARD RUSSELL 2000 INDEX FUND VTWO | $3.2M | 0.02% |
| Bridge Builder Small/Mid Cap Growth Fund | $3.1M | 0.03% |
| Wasatch Ultra Growth Fund | $3.0M | 0.65% |
| Nuveen Quant Small Cap Equity Fund | $2.7M | 0.07% |
116 funds reported holding $84.6M in total on their latest public Form N-PORT reports, the most recent dated August 2026. Security record
Insider trades · Form 4
Latest filings
- John Cochran 2026-10-23 Gift/Other
- Daniel Barber 2026-10-16 Sell
- Daniel Barber 2026-09-16 Sell
- Sherry Korczynski 2026-09-11 Sell
- Peter E. Boyd 2026-09-10 Exercise
5%+ holders · 13D/G
3 filers| Filer | % of class | Filed |
|---|---|---|
| Bass Edward P 13G | 7.5% | 2026-10-07 |
| BlackRock Inc 13G | 6.4% | 2026-07-27 |
| RTW INVESTMENTS LP 13G | 5.2% | 2025-11-14 |
Latest Schedule 13D or 13G from each filer; stakes a filer has reported closed are left out.
Federal lobbying · LD-2
Securities
| CUSIP | Security | Type |
|---|---|---|
| 03843E104 | AQST AQUESTIVE THERAPEUTICS INC | Common stock |