Aquestive CEO Dan Barber said that the $75 million financing will support the company through 2027 and allow it to successfully bring Anaphylm to market.
Aquestive Therapeutics, Inc. (AQST) on Thursday said that it has entered into a $75 million strategic funding agreement with funds managed by RTW Investments, LP, subject to U.S. Food and Drug Administration (FDA) approval of Anaphylm Sublingual Film.
The financing will become available upon approval of Anaphylm by the FDA and satisfaction of certain refinancing and other customary conditions. Aquestive CEO Dan Barber said that the financing will support the company through 2027 and allow it to successfully bring Anaphylm to market.
Under the terms of the agreement, RTW will receive a tiered single-digit percentage of annual net sales of Anaphylm in the U.S. for the treatment of type I allergic reactions, including anaphylaxis, subject to a cap.
On Stocktwits, retail sentiment around AQST jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels. Shares of the company traded 6% higher in the pre-market session.
A Stocktwits user believes uncertainty about funding is out of the way.
Another, however, opined that the company would need more funds to launch the drug.
Anaphylm Sublingual Film is a polymer matrix-based epinephrine prodrug product candidate. It is similar in size to a postage stamp and begins to dissolve on contact. No water or swallowing is required for administration.
According to Aquestive, Anaphylm has the potential to be the first and only orally delivered epinephrine product for the treatment of severe allergic reactions in the U.S. The FDA is expected to decide on the candidate by January 31, 2026.
Separately, the company also announced pricing of an underwritten offering of 21.25 million shares of its common stock at an offering price of $4.00 per share. The gross proceeds of the offering to Aquestive are expected to be $85 million.
The company said it intends to use the net proceeds received from the offering primarily to advance the launch and commercialization of Anaphylm.
AQST stock is up by 13% this year and by about 4% over the past 12 months.
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