Aquestive Therapeutics Inc (NASDAQ:AQST) stock climbed 5.7% following the announcement of a $75 million strategic funding agreement with RTW Investments, LP, contingent on FDA approval of its Anaphylm sublingual film.
The financing is intended to support Aquestive through 2027, providing capital to commercialize Anaphylm, which could become the first oral rescue treatment for severe allergic reactions, including anaphylaxis. Under the agreement, RTW will receive a tiered, single-digit percentage of annual U.S. net sales of Anaphylm, subject to a cap.
“We continue to believe Anaphylm, potentially the first and only oral rescue medication for severe allergic reactions, can transform how patients carry and access their treatment,” said Dan Barber, CEO of Aquestive.
The funding will become available upon FDA approval of Anaphylm and the fulfillment of certain refinancing and other conditions related to the company’s existing debt. Roderick Wong, Managing Partner and CIO of RTW Investments, highlighted his confidence in the drug’s commercial potential.
Cantor Fitzgerald & Co served as exclusive financial advisor to Aquestive on the royalty financing transaction.
Aquestive Therapeutics stock price
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