Business
Aquestive Therapeutics Reaffirms Full Year 2019 Revenue Guidance and Will Announce Third Quarter 2019 Financial Results and Recent Business Highlights on November 6, 2019
WARREN, N.J., Oct. 15, 2019 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST), a specialty pharmaceutical company focused on developing and
About this update from Aquestive Therapeutics, Inc.
[{"type":"text","content":"WARREN, N.J., Oct. 15, 2019 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST), a specialty pharmaceutical company focused on developing and commercializing differentiated products to solve therapeutic problems, today announced, in response to Indivior PLC’s press release issued earlier today of Indivior’s intent to cease production of its authorized generic buprenorphine-naloxone film product, that the Company is reaffirming its full year 2019 total revenue guidance. Full year 2019 total revenue is now expected to be at the top end of the Company’s guidance range of $38 million to $45 million. Full year 2019 revenue from the Company’s Suboxone® franchise is expected to be at the top end of its guidance range of $29 million to $32 million. As of October 2019, Suboxone and the authorized generic buprenorphine-naloxone film continue to retain approximately 75% of the market for film treatments of opioid dependence, of which a substantial majority of its retained market share is branded Suboxone.\n “The key value drivers of our business continue to be our proprietary products addressing unmet needs for highly differentiated solutions for patients with epilepsy and other disease conditions,” said Keith J. Kendall, Chief Executive Officer of Aquestive. “As expected, we filed the CMC portion of our rolling NDA submission for Libervant™ (diazepam buccal film) with the FDA in September 2019 and expect to complete the filing in fourth quarter 2019. We also recently reported positive results from our Phase 1 dose escalation proof-of-concept study in healthy subjects for AQST-108 that is in development for the treatment of anaphylaxis.” Mr. Kendall added, “Suboxone has exceeded our expectations in terms of market share retention since the entry of generics. Based on this market performance, Aquestive has a strong order book for the full year 2019. As the exclusive manufacturer of Suboxone, we expect that this product will continue to generate meaningful revenue for the foreseeable future. While Suboxone is important to us, we have continued to plan for the erosion of this sunsetting product over time, and continue to focus on delivering our proprietary pipeline of highly valuable products to patients with epilepsy and other disease conditions in need of improved treatments.” Third Quarter 2019 Conference Call and WebcastAquest...