Aquestive Therapeutics, Inc. · NASDAQ:AQST
Aquestive Therapeutics — Q1 2026 Earnings Presentation
16 slides from Aquestive Therapeutics's earnings presentation, May 14, 2026
Slide 1: First Quarter 2026 Earnings Supplemental Materials
First Quarter 2026 Earnings Supplemental Materials May 13, 2026 Advancing medicines. Solving problems. Improving lives.
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation 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 the negative of those terms, and simila
Slide 3: Q1 2026 Earnings Key Messages
Q1 2026 Earnings Key Messages Anaphylm (dibutepinephrine) sublingual film for severe allergic reactions, including anaphylaxis • Continue to guide to a Q3 2026 resubmission of the Anaphylm New Drug Application (NDA) • Affirms existing clinical data is sufficient for submitting regulatory application
Slide 4: Anaphylm (dibutepinephrine) sublingual film
Anaphylm (dibutepinephrine) sublingual film
Slide 5: Planned Human Factor Validation Study Design
Planned Human Factor (HF) Validation Study Design¹ • 9 distinct user groups with 15 participants each (per FDA guidance) intended to represent the demographics and characteristics of intended Anaphylm population • Adult Patients (split into 3 groups: 2 untrained and 1 familiarized with the Anaphylm
Slide 6: Planned Pharmacokinetic Study Design
Planned Pharmacokinetic (PK) Study Design¹ Period 1 Study Day 1 Randomized Anaphylm All subjects will be required to receive: Administration • An FDA approved epinephrine injection product HealthCare Provider, Self-administration or • Anaphylm administration by trained study staff Top of Tongue • Ra
Slide 7: Expand Awareness of Anaphylm
Expand Awareness of Anaphylm Medical Affairs broadens awareness and enhances familiarity with healthcare providers and the allergy community • Establish relationships, leverage existing reputations, expertise and networks • Hired a dynamic Medical Affairs team to engage the allergy community • Compr
Slide 8: AQST-108 (epinephrine) topical gel
AQST-108 (epinephrine) topical gel
Slide 9: AQST-108 Phase 1 Study Results
ASQT-108 Phase 1 Study Results¹ Safety and local tolerability • No drug related adverse events observed • 0.5% ASQT-108 given acutely showed no appreciable PK results Exploratory protein testing to discover potential biomarkers associated with alopecia and other potential dermatologic conditions • T
Slide 10: Key Upcoming Milestones
| << Aquestive’ Key Upcoming Milestones
Slide 11: Recently Completed and Upcoming Expected Key Milestones
Recently Completed and Upcoming Expected Key Milestones¹ CRL issued on Canadian January 30, 2026 Clinical PK Study Regulatory Filing Anaphlym Type A Meeting Human Factors NDA with FDA Study Resubmission March 26, 2026 Maximum Tolerated Dose (MTD) 7-day 1-Month Completed Phase 1 AQST – 108 Pre-clinic
Slide 12: First Quarter 2026 Results
| << Aquestive’ First Quarter 2026 Results
Slide 13: Expected to Meet Near-term Milestones with Projected Cash Runway into 2027
Expected to Meet Near-term Milestones with Projected Cash Runway into 2027 Ending Cash Balance by Quarter $129.1 $121.2 120 $110.7 100 USD (Millions) 80 $60.5 60 40 20 0 Q2 25 Q3 25 Q4 25 Q1 26 13
Slide 14: Manufacturing Operations Continue to Generate Cash
Manufacturing Operations Continue to Generate Cash Doses Shipped by Quarter 60,000 50,000 47,953 47,250 46,241 45,328 43,838 43,801 DOSES SHIPPED (000’S) 42,516 43,032 40,000 37,204 34,418 33,320 30,000 27,262 20,000 10,000 0 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 QU
Slide 15: 2026 Guidance as of May 13, 2026
2026 Guidance as of May 13, 2026 2026 Outlook • Total revenues of approximately $46-50 million • Non-GAAP adjusted EBITDA loss of approximately $35-30 million 15
Slide 16: Thank You
| << Aquestive’ Thank You
Aquestive Therapeutics — Q1 2026 Earnings Presentation on 6ix