Aquestive Therapeutics, Inc. · NASDAQ:AQST
Aquestive Therapeutics — Q3 2025 Earnings Presentation
11 slides from Aquestive Therapeutics's earnings presentation, Nov 6, 2025
Slide 1: Third Quarter 2025 Earnings Supplemental Materials
Advancing medicines. Solving problems. Improving lives. September 2024 Third Quarter 2025 Earnings Supplemental Materials November 6, 2025
Slide 2: Disclaimer
© 2025 Aquestive Therapeutics, Inc. 2 Disclaimer Certain statements in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or
Slide 3: Q3 2025 earnings key messages
3 Q3 2025 earnings key messages Anaphylm (dibutepinephrine) Sublingual Film for severe allergic reactions, including anaphylaxis • U.S. Food and Drug Administration (FDA) confirms that it will not require an Advisory Committee to review the Company’s New Drug Application for Anaphylm • Preparing for
Slide 4: Q3 2025 earnings key messages - continued
4 Q3 2025 earnings key messages - continued AQST-108 and the expansion of AdrenaVerse platform • Plan to open Investigational New Drug application for AQST-108 with FDA in Q4 2025 • Expect to initiate a clinical study for AQST-108 for Alopecia Areata in 1H 2026 • Strengthened clinical leadership to
Slide 5: Recent film strip preference survey completed
5 Survey Methodology: • Double-blinded survey with 17 adult patients and 18 caregivers of pediatric patients at risk for anaphylaxis • Respondents were mailed an envelope containing one empty, non-labeled nasal spray device and one non-labeled placebo film strip • Respondents kept envelopes sealed u
Slide 6: Upcoming expected key milestones
6 Upcoming expected key milestones AQST – 108 Libervant® Q4 2025 Q1 2026 Q2 2026 Q3 2026 AnaphlymTM Expect to submit IND Expected licensee-led U.K. regulatory approval1 PDUFA action date is scheduled for January 31, 2026 Potential ex-U.S. Regulatory Filings Expect to initiate clinical study 1. Licen
Slide 7: Third Quarter Results
| ff << Aquestive’ Third Quarter Results
Slide 8: Expected to meet near-term milestones with projected cash runway into 2027
8 Expected to meet near-term milestones with projected cash runway into 2027 $93.0 $68.7 $60.5 $129.1 0 20 40 60 80 100 120 Q4 24 Q1 25 Q2 25 Q3 25 U SD (M illi on s) Ending Cash Balance by Quarter
Slide 9: Manufacturing operations continue to generate cash
9 33,458 47,953 46,241 45,328 42,516 34,418 43,818 43,032 27,392 37,204 43,801 0 10,000 20,000 30,000 40,000 50,000 60,000 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 D O SE S SH IP PE D (0 00 ’S ) QUARTER Doses Shipped by Quarter Manufacturing operations continue to generate c
Slide 10: 2025 guidance as of November 5, 2025
10 2025 guidance as of November 5, 2025 2025 Outlook • Total revenues of approximately $44-$50 million • Non-GAAP adjusted EBITDA loss of approximately $47-$51 million
Slide 11: Thank You
| ff << Aquestive’ Thank You
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