| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 73.94 | 1735 |
| Intrinsic value (DCF) | 0.00 | -100 |
| Graham-Dodd Method | n/a | |
| Graham Formula | n/a |
Aquestive Therapeutics, Inc. (NASDAQ: AQST) is a specialty pharmaceutical company focused on developing and commercializing innovative drug delivery technologies to address unmet medical needs. The company leverages its proprietary PharmFilm® technology platform to create oral soluble film formulations of complex molecules, enhancing patient convenience and compliance. Aquestive markets products like Sympazan for epilepsy, Suboxone for opioid dependence, and Zuplenz for chemotherapy-induced nausea, while advancing a robust pipeline including Libervant (buccal diazepam for seizures) and AQST-109 (oral epinephrine for anaphylaxis). Operating in the $1.3 trillion global pharmaceutical market, Aquestive differentiates itself through non-invasive administration alternatives to injections and pills, particularly in neurology and rare diseases. The company's strategic partnerships with major pharma firms and FDA designations (e.g., Fast Track for Libervant) underscore its potential in specialty CNS and allergy therapeutics. With headquarters in New Jersey, Aquestive combines proprietary formulation science with targeted commercialization to capture niche opportunities in the growing $500B+ specialty drug sector.
Aquestive presents a high-risk, high-reward proposition with its differentiated oral film technology and CNS-focused pipeline. The company's $233M market cap reflects investor skepticism about its path to profitability (FY2023 net loss: $44M), though $71.5M cash reserves provide runway. Key value drivers include: 1) Potential FDA approval and commercialization of Libervant (addresses $1B+ rescue seizure market), 2) Royalty growth from partnered products like Azstarys (ADHD), and 3) Pipeline candidates targeting large markets (epinephrine alternatives: $3B+ opportunity). Risks include reliance on few commercial products (Suboxone film faces generic competition), clinical trial uncertainties, and cash burn rate. The stock's high beta (2.02) indicates volatility, but upside exists if pipeline milestones are achieved. Investors should monitor prescription trends for Sympazan, partnership developments, and regulatory progress for Libervant.
Aquestive competes in the specialty pharma space through its proprietary PharmFilm® platform, which creates orally dissolving films as alternatives to traditional pills/injections. This technology provides competitive advantages in patient compliance (especially for pediatric/neurological patients) and rapid systemic absorption. The company's focus on CNS disorders (epilepsy, Parkinson's) and allergy emergencies allows it to carve defensible niches, though it faces competition from both large pharma and specialty drug developers. While lacking the scale of branded CNS players like Jazz Pharmaceuticals, Aquestive's film formulations offer differentiation in administration convenience - e.g., Libervant could compete with BUCCOLAM's buccal midazolam but with potentially better dosing precision. In epinephrine alternatives, AQST-109 aims to disrupt the $3B+ EpiPen market dominated by Viatris, though must compete with ARS Pharmaceuticals' neffy (intranasal epinephrine). Aquestive's partnership model (e.g., Azstarys with Indivior) mitigates commercialization risks but limits economics. The company's $38M debt is manageable, but its sub-$100M revenue base makes it vulnerable to competitive pressures from generics (Suboxone) and larger players with superior sales infrastructure. Success hinges on demonstrating PharmFilm's clinical advantages in pivotal trials and securing regulatory exclusivities.