Aquestive Therapeutics, Inc. SEC Filings

Aquestive Therapeutics (AQST) filed a Form 144 reporting a proposed sale of 400 shares of common stock through Morgan Stanley Smith Barney LLC on 09/19/2025. The filing shows an aggregate market value of $1,976.00 and lists total outstanding shares as 99,723,635. The shares were acquired on 09/19/2025 by exercise of stock options from the issuer, with payment made in cash. The filer reports no securities sold in the past three months and signs the standard representation that they are unaware of undisclosed material adverse information.

Cassie Jung, Chief Operating Officer of Aquestive Therapeutics (AQST), reported transactions on Form 4 dated 09/04/2025 showing option exercises and an open-market sale under a 10b5-1 plan. The filing shows two option exercises that converted into 50,000 common shares (25,000 shares from a $3.15 strike option and 25,000 shares from a $0.7063 strike option). The reporting table also shows a sale of 62,180 shares at $5.00 per share and an indirect holding of 2,000 shares held by the reporting person’s spouse. Following the transactions, the reporting person beneficially owned 283,346 shares. The filing states the exercises and sales were made pursuant to a 10b5-1 trading plan and notes both option grants are fully vested.

Aquestive Therapeutics insider sale under 10b5-1 plan. On 09/05/2025 Peter E. Boyd, an officer serving as SVP IT, HR & Communications, sold 15,000 shares of Aquestive Therapeutics (AQST) at $5.30 per share. After the transaction he beneficially owned 288,323 shares. The sale was executed pursuant to a pre-established Rule 10b5-1 trading plan and reported on a Form 4 filed 09/08/2025. The filing indicates a single reporting person and was signed by an attorney-in-fact.

Aquestive Therapeutics, Inc. furnished a current report to share its latest investor presentation used at the H.C. Wainwright 27th Annual Global Investor Conference held on September 8, 2025. The presentation is attached as Exhibit 99.1 and may also be viewed on the company’s website. The information in this investor deck is being provided under a Regulation FD disclosure item and is expressly stated as “furnished” rather than “filed”, meaning it is not subject to liability under Section 18 of the Exchange Act and is not automatically incorporated into other securities law filings unless specifically referenced.

Aquestive Therapeutics (AQST) filing a Form 144 notifies a proposed sale of 15,000 common shares through Merrill Lynch on Nasdaq, with an aggregate market value of $79,500. The shares were originally acquired under a stock option granted by the issuer and vested on 05/11/2018; the filer reports acquiring 49,439 shares on that date. The filing lists approximately 99,723,635 shares outstanding, making the proposed sale a very small fraction of total shares. The filer certifies they are not aware of undisclosed material adverse information and provides the standard Rule 144 representations required for such sales.

Aquestive Therapeutics (AQST) filed a Form 144 reporting a proposed sale of 62,180 common shares with an aggregate market value of $245,611, representing part of 99,723,635 shares outstanding. The sale is scheduled for 09/04/2025 on NASDAQ through Morgan Stanley Smith Barney LLC.

The securities were acquired in three events: 50,000 shares from option exercises on 09/04/2025 (paid in cash), 7,613 shares as restricted stock units on 07/13/2019, and 4,567 shares via the employee stock purchase plan on 06/28/2019. The filer reports no securities sold in the past three months.

Aquestive Therapeutics reported that the U.S. Food and Drug Administration informed the company an advisory committee meeting is not required for its Anaphylm™ (dibutepinephrine) Sublingual Film candidate. The Prescription Drug User Fee Act target action date for Anaphylm remains January 31, 2026.

A reporting person affiliated with Aquestive Therapeutics (AQST) acquired 25,000 shares of common stock on 08/14/2025 as restricted stock. The award carries a three‑installment vesting schedule: 25% at the first installment, 25% at the second, and 50% at the third. After the reported transaction the reporting person beneficially owns 181,858 shares. The form identifies the reporting person as an officer (Chief Commercial Officer) and the transaction was reported on 08/15/2025 by an attorney‑in‑fact.

Aquestive Therapeutics is offering 21,250,000 shares of common stock, listed on Nasdaq as "AQST," with delivery expected on or about August 15, 2025. The supplement states the last reported Nasdaq sale price was $4.01 on August 13, 2025 and that there were 99,353,270 shares outstanding as of June 30, 2025, before this offering. The filing discloses a range of dilution sources including options, RSUs, PSUs, warrants and reserved shares, and assumes no exercises for purposes of the offering. The company maintains an ATM facility with capacity up to $100.0 million, having sold ~27.3 million shares for net proceeds of ~$81.8 million to date. Underwriting terms note dealer concessions up to $0.144 per share, estimated offering expenses of ~$0.4 million, and reimbursement of up to $15,000 for FINRA counsel fees. The prospectus lists extensive risks including clinical and regulatory delays for Anaphylm, Libervant and AQST-108, manufacturing and commercialization risks, potential further dilution from future capital raises, reliance on revenue from a sunsetting licensed product (Suboxone®), debt default risk, intellectual property and litigation risks, and general market, geopolitical and macroeconomic risks. The underwriters may stabilize or engage in short covering in the market; lock-up restrictions and customary underwriting indemnities are described.