In a recent transaction, Cassie Jung, the Chief Operating Officer of Aquestive Therapeutics , Inc. (NASDAQ:AQST), sold a small portion of the company's stock. The transaction, which took place on November 26, 2024, involved the sale of 44 shares at a price of $4.865 per share, amounting to a total value of $214.
Following this sale, Jung's spouse, who shares her household, no longer holds any shares in Aquestive Therapeutics through their IRA. It is important to note that Jung disclaims beneficial ownership of these shares, as noted in the filing.
Jung continues to hold 233,066 shares directly under her own name. Aquestive Therapeutics, headquartered in Warren, New Jersey, operates in the pharmaceutical preparations industry.
In other recent news, Aquestive Therapeutics reported changes in its board of directors, with Santo J. Costa stepping down and John S. Cochran assuming the role of Chairman of the Compensation Committee. In terms of financial performance, the pharmaceutical company disclosed a growth in its Q3 2024 revenues, reaching $13.5 million, a 4% increase from the same period last year, primarily driven by license and royalty revenues. However, excluding one-time revenue from a terminated agreement, revenues saw a 5% decline.
The company also reported a net loss of $11.5 million for Q3 2024, a significant increase from a $2 million loss in Q3 2023. Aquestive Therapeutics maintains its 2024 revenue guidance of $57 million to $60 million and anticipates a non-GAAP adjusted EBITDA loss of $20 million to $23 million for 2024.
In product development news, Aquestive Therapeutics is progressing with its lead product candidate, Anaphylm, which has received positive feedback from the FDA. The company is also expanding the Libervant launch for young children and making progress on its new product candidate, AQST-108, for alopecia areata. The company is preparing for Anaphylm's potential launch in Q1 2026 and AQST-108's launch before the end of 2028. These are some of the recent developments at Aquestive Therapeutics.
InvestingPro Insights
While Cassie Jung's recent sale of 44 shares might seem minor, it's worth examining Aquestive Therapeutics' broader financial picture. According to InvestingPro data, the company's market capitalization stands at $473.21 million, reflecting its current position in the pharmaceutical preparations industry.
Aquestive has shown impressive revenue growth, with a 22.56% increase over the last twelve months as of Q3 2024, reaching $58.9 million. This growth trend is further supported by a strong gross profit margin of 69.39% for the same period, indicating efficient cost management in its core operations.
However, investors should note that despite the revenue growth, Aquestive is not currently profitable. An InvestingPro Tip reveals that analysts do not anticipate the company will be profitable this year. This aligns with the reported operating income of -$21.1 million over the last twelve months.
On a positive note, another InvestingPro Tip highlights that Aquestive holds more cash than debt on its balance sheet, suggesting a relatively stable financial position despite the lack of profitability. This could provide the company with some flexibility as it continues to invest in its pharmaceutical pipeline.
The stock has shown significant momentum, with a remarkable 151.55% price total return over the past year. This performance is particularly noteworthy given the volatile nature of biotech stocks, as indicated by another InvestingPro Tip mentioning that stock price movements for Aquestive are quite volatile.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 5 more InvestingPro Tips available for Aquestive Therapeutics, providing a deeper understanding of the company's financial health and market position.
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