AQST - Shares of Aquestive Therapeutics fall after Q2 revenue decreases loss widens

Aquestive Therapeutics ( NASDAQ: AQST ) stock lost as much as 8.2% to $0.81 in Wednesday trading, after the pharmaceutical company reported a Y/Y fall in Q2 revenue and and a wider loss, while also raising its FY revenue and earnings guidance.

AQST after hours on Tuesday posted Q2 GAAP EPS of -$0.36, which was in-line with estimates. Its Q2 revenue of $13.27M beat expectations by $2.7M .

However, the Q2 figures compared to a Q1 GAAP EPS of -$0.33 and Q1 revenue of $15.35M.

The fall in revenue stemmed primarily from a reduction in manufacture and supply revenue as well as co-development and research fees, the company said in the earnings report .

The wider quarterly loss was driven by higher expenses related to the advancement of the company's epinephrine product candidate AQST-109.

However, AQST said it now expects FY total revenue of $46M to $49M from a prior guidance of $42M to $47M. The consensus revenue estimate is $45.81M.

Non-GAAP adj. EBITDA loss for FY is now anticipated to be $37M to$43M from a previous range of $51M to $58M.

Up to Tuesday's close, AQST stock -77.4% YTD.

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