Aquestive Therapeutics, Inc. · NASDAQ:AQST
Aquestive Therapeutics — Q2 2026 Earnings Presentation
17 slides from Aquestive Therapeutics's earnings presentation, Aug 12, 2026
Slide 1: Second Quarter 2026 Earnings Supplemental Materials
Second Quarter 2026 Earnings Supplemental Materials September August 11, 20262024 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: Q2 2026 Earnings key messages
Q2 2026 Earnings key messages Anaphylm (dibutepinephrine) sublingual film for severe allergic reactions, including anaphylaxis • On track to resubmit the Anaphylm New Drug Application (NDA) in Q3 2026 • Successfully completed the required human factors and pharmacokinetic studies needed to resubmit
Slide 4: The epinephrine market continues to grow
The epinephrine market continues to grow¹ EPI MARKET TRX COUNT 5,000,000 3Q’24 – 2Q’25 3Q’25 – 2Q’26 • Epinephrine market 4,500,000 continues to grow – quarter 4,000,000 over quarter growth is strong +3.4% including “off season” 3,500,000 quarters 3,000,000 +9.4% 2,500,000 2,000,000 +7.2% 1,500,000
Slide 5: AQST-108 (epinephrine) topical gel
AQST-108 (epinephrine) topical gel 5
Slide 6: AQST-108 has the potential to harness the benefits of a topical gel with prodrug technology
AQST-108 has the potential to harness the benefits of a topical gel with prodrug technology Administration process AQST-108 structure & conversion Early proof points 1. Topical gel applied to affected skin (epidermis) 2. AQST-108 penetrates to dermis layer and converts slowly over time 3. AQST-108 c
Slide 7: AQST-108 has the potential to weaken the inflammatory amplification loop
AQST-108 has the potential to weaken the inflammatory amplification loop Potential for AQST-108 downregulation 7
Slide 8: Atopic dermatitis (AD) treatment landscape
Atopic dermatitis (AD) treatment landscape 8
Slide 9: ~27.5M prevalent AD patients, ~3M of whom are actively managed
~27.5M prevalent AD patients, ~3M of whom are actively managed; ~90% of patients have mild-moderate AD, which is historically pharmacologically underserved AD Treated Population AD Segmentation Age 1, 2, 3 Diagnosed Prevalence 1, 2, 3: ~27.5M Claims -Identified Diagnosed 4: ~9.5M 8.7 M Pediatric Tot
Slide 10: The AD market remains receptive to therapies that address unmet needs
The AD market remains receptive to therapies that address unmet needs and offer improvements over existing treatment attributes Product Attributes of Branded Topicals Later Entry to AD Market Patient Age at 12+ years 6+ years 2+ years Launch Severity Mild-to-Mod Mild-to-Mod Not restricted by severit
Slide 11: AST-108 has the potential for expansion into additional dermatologic and immunologic indications
AST-108 has the potential for expansion into additional dermatologic and immunologic indications Branded Topicals Portfolio Revenue1 $1,525M $259M Psoriasis Existing topical dermatological Zoryve $293M franchises highlight the $917M Atopic Dermatitis commercial potential of $150M $167M addressing mu
Slide 12: Upcoming Milestones & Second Quarter 2026 Results
Upcoming Milestones & Second Quarter 2026 Results 12
Slide 13: Recently completed and upcoming expected key milestones
Recently completed and upcoming expected key milestones Completed Clinical PK Canadian EMA Regulatory Study Regulatory Filing Filing Anaphylm Completed Human NDA Launch Anaphylm, if Factors Study Resubmission approved by the FDA AQST – 108 Preclinical tox studies SAD/MAD¹ dose finding study Q2 2026
Slide 14: Cash management remains on track
Cash management remains on track Ending Cash Balance by Quarter $129.1 $121.2 120 $110.7 $98.5 100 USD (Millions) 80 $60.5 60 40 20 0 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 14
Slide 15: Manufacturing operations continue to generate cash
Manufacturing operations continue to generate cash Doses Shipped by Quarter 60,000 50,000 47,250 47,909 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 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 QU
Slide 16: 2026 Guidance as of August 11, 2026
2026 Guidance as of August 11, 2026 2026 Outlook • Total revenues of approximately $46-$50 million • Non-GAAP adjusted EBITDA loss of approximately $35-$30 million 16
Slide 17: Thank You
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