Aquestive Therapeutics, Inc. (NASDAQ:AQST), a US-based pharmaceutical company, announced on Thursday the pricing of an underwritten offering of 21,250,000 shares of its common stock at an offering price of USD4.00 per share.

The gross proceeds of the offering to Aquestive, before deducting the underwriting discounts and commissions and other offering expenses payable by Aquestive, are expected to be USD85m. The company intends to use the net proceeds received from the offering, together with its existing cash and cash equivalents, primarily to advance the launch and commercialisation of Anaphylm (epinephrine) Sublingual Film for the treatment of severe life-threatening allergic reactions, including anaphylaxis, assuming United States Food and Drug Administration (FDA) approval, and for working capital, capital expenditures and general corporate purposes. All of the securities are to be sold by the company.

The offering is expected to close on or about August 15, 2025, subject to satisfaction of customary closing conditions.

The offering was led by RTW Investments, LP and included participation from Samsara BioCapital, EcoR1 Capital, Perceptive Advisors, Sio Capital Management, ADAR1 Capital Management, and Nantahala Capital.

Leerink Partners, Cantor, and Oppenheimer & Co. are acting as joint bookrunning managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering, and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-manager for the offering.