Aquestive Therapeutics Inc

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 6, 2024

AQST$3.61-1.4%Stored close · as of Nov 6, 2026

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Contents

Condensed Balance Sheets as of June 30, 2024 and December 31, 2023

Condensed Balance Sheets

(In thousands, except share and per share amounts)

	June 30,2024	December 31,2023
Assets
Current assets:
Cash and cash equivalents	$89,870	$23,872
Trade and other receivables, net	5,998	8,471
Inventories	6,966	6,769
Prepaid expenses and other current assets	1,177	1,854
Total current assets	104,011	40,966
Property and equipment, net	3,921	4,179
Right-of-use assets, net	5,435	5,557
Intangible assets, net	—	1,278
Other non-current assets	4,238	5,438
Total assets	$117,605	$57,418
Liabilities and stockholders’ deficit
Current liabilities:
Accounts payable	$5,696	$8,926
Accrued expenses	5,674	6,497
Lease liabilities, current	455	390
Deferred revenue, current	1,046	1,551
Liability related to the sale of future revenue, current	1,000	922
Loans payable, current	24	22
Total current liabilities	13,895	18,308
Notes payable, net	30,006	27,508
Royalty obligations, net	17,477	14,761
Liability related to the sale of future revenue, net	62,684	63,568
Lease liabilities	5,238	5,399
Deferred revenue, net of current portion	21,757	32,345
Other non-current liabilities	2,027	2,016
Total liabilities	153,084	163,905
Contingencies (Note 19)
Stockholders’ deficit:
Common stock, $0.001 par value. Authorized 250,000,000 shares; 91,059,760 and 68,533,085 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	91	69
Additional paid-in capital	299,080	212,521
Accumulated deficit	(334,650)	(319,077)
Total stockholders’ deficit	(35,479)	(106,487)
Total liabilities and stockholders’ deficit	$117,605	$57,418

Condensed Statements of Operations and Comprehensive (Loss) Income

(In thousands, except share and per share data amounts)

	Three Months Ended June 30,		Six Months EndedJune 30,
	2024	2023	2024	2023
Revenues	$20,099	$13,241	$32,152	$24,375
Costs and expenses:
Manufacture and supply	4,526	6,617	8,915	11,354
Research and development	4,162	3,473	10,094	7,020
Selling, general and administrative	11,356	7,360	22,045	14,815
Total costs and expenses	20,044	17,450	41,054	33,189
Income (Loss) from operations	55	(4,209)	(8,902)	(8,814)
Other income/(expenses):
Interest expense	(2,779)	(1,373)	(5,563)	(2,808)
Interest expense related to royalty obligations	(1,358)	—	(2,716)	—
Interest expense related to the sale of future revenue	(58)	(55)	(116)	(107)
Interest income and other income, net	1,395	129	1,724	14,642
Loss on extinguishment of debt	—	—	—	(353)
Net (loss) income before income taxes	(2,745)	(5,508)	(15,573)	2,560
Income taxes	—	284	—	284
Net (loss) income	$(2,745)	$(5,792)	$(15,573)	$2,276
Comprehensive (loss) income	$(2,745)	$(5,792)	$(15,573)	$2,276
(Loss) earnings per share attributable to common stockholders:
Basic (in dollars per share)	$(0.03)	$(0.10)	$(0.19)	$0.04
Diluted (in dollars per share)	$(0.03)	$(0.10)	$(0.19)	$0.04
Weighted average common shares outstanding:
Basic (in shares)	90,911,626	57,350,902	82,263,168	56,494,805
Diluted (in shares)	90,911,626	57,350,902	82,263,168	58,938,222

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.