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Aquestive Therapeutics Advances Royalty Monetization Plan as Sunovion Pharmaceuticals’ Apomorphine Sublingual Film Therapy Receives FDA Approval
WARREN, N.J., May 21, 2020 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ:AQST), a pharmaceutical company focused on developing and commercializing
About this update from Aquestive Therapeutics, Inc.
[{"type":"text","content":"WARREN, N.J., May 21, 2020 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ:AQST), a pharmaceutical company focused on developing and commercializing differentiated products that address patients’ unmet needs and solve therapeutic problems, today announced plans to advance its strategy to monetize the anticipated royalties associated with Sunovion Pharmaceuticals’ apomorphine sublingual film APL-130277, which received FDA approval to treat motor fluctuations (OFF episodes) experienced by people living with Parkinson’s disease.\n Keith J. Kendall, President and Chief Executive Officer of Aquestive, stated, “We are pleased to see that the FDA has granted approval for Sunovion’s apomorphine sublingual film, as expected. This approval is another validation of the significant value our PharmFilm® based therapies provide in satisfying unmet needs to certain underserved patient populations. We expect that this therapy will generate substantial future license and royalty revenues for our company and we are meeting with potential investors for the monetization of this royalty stream. We continue to expect that we will receive between $50 to $100 million of non-dilutive capital from the monetization, in one or a series of transactions. The timing of the monetization will depend on market conditions, and will be executed at a time that is optimal for Aquestive. Based on our current planning and expectations, we believe that we are positioned well with current cash resources and proceeds from a potential monetization of this royalty stream to extend our capital runway well into 2021 and possibly beyond.” As disclosed in Aquestive’s filings with the SEC, in April 2016, Aquestive entered into a license agreement with Cynapsus Therapeutics (which was later succeeded to in interest by Sunovion), pursuant to which Aquestive granted Sunovion an exclusive, worldwide license (with the right to sub-license) to certain intellectual property, including existing and future patents and patent applications, covering all oral films containing APL-130277 (apomorphine) for the treatment of motor fluctuations (OFF episodes) in Parkinson’s disease patients, as well as two other therapeutic fields. About Aquestive TherapeuticsAquestive Therapeutics is a pharmaceutical company that applies innovative technology to solve therapeutic problems and improve ...