UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549


FORM 8-K


CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 11, 2018


Aquestive Therapeutics, Inc.
(Exact name of Registrant as specified in its charter)



Delaware
001-38599
82-3827296
(State or Other Jurisdiction of Incorporation or Organization)
(Commission File Number)
(I.R.S. Employer Identification No.)

30 Technology Drive
Warren, NJ 07059
(908) 941-1900
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 7.01
Regulation FD Disclosure

Aquestive Therapeutics, Inc. is furnishing the investor presentations attached as Exhibit 99.1 and Exhibit 99.2 to this report for use at the BMO Prescriptions for Success Conference on December 12, 2018, and in other meetings with investors and analysts.

The information in this report is being furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for purposes of Section 17 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01
Financial Statements and Exhibits

(d) Exhibits.

Exhibit Number
 
Description
 
Business Update Investor Presentation, dated December 2018
 
Corporate Update Investor Presentation, dated December 2018


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: December 11, 2018
Aquestive Therapeutics, Inc.
     
 
By:
/s/ John T. Maxwell
   
Name: John T. Maxwell
   
Title: Chief Financial Officer




Exhibit 99.1

 Business UpdateDecember 2018 
 

 2  Forward Looking Statements  Certain statements in this presentation and associated oral statements made by management may constitute "forward-looking statements.” Words such as “believes”, “expects”, “projects”, “future” and similar expressions often identify such forward-looking statements. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of the Company completing its development work, the risks of delays in FDA approval (or failure to approve) of our drug candidates as well as the risks inherent in commercializing a new product (including technology risks, market risks, financial risks and implementation risks, and other risks and uncertainties affecting the Company including those described in our Form S-1 with the Securities and Exchange Commission (“SEC”). The Company disclaims and is not under any obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events, or otherwise, except as required by applicable law. This presentation also contains estimates and other statistical data made by independent parties relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. By attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business.All third-party trademarks, including names, logos and brands, referenced by us in this presentation are property of their respective owners. All references to third-party trademarks are for identification purposes only. Such use should not be construed as an endorsement of the products or services of us or this potential offering.     
 

 3  Business Update – December 2018  SympazanTM (clobazam) Oral Film launched in November; marketing and sales efforts initiated nationwideLibervantTM (diazepam) Buccal Film* progressing toward NDA submission, pending outcome of pre-NDA meetingAquestive’s PharmFilm patent portfolio not impacted by lifting of DRL Preliminary Injunction; Suboxone® Sublingual Film (CIII)** and Authorized Generic will continue to be a meaningful part of partnered revenue baseStrong cash position from IPO to support commercialization and development plans with several non-dilutive capital options available, if needed   *LibervantTM, the preliminary brand name for Diazepam Buccal Film, was conditionally accepted by the U.S. Food and Drug Administration (FDA) and will be submitted for final FDA review and approval in the Diazepam Buccal Film New Drug Application (NDA)** SUBOXONE® and SUBUTEX® are registered trademarks of Indivior UK Limited.  
 

 4  SympazanTM (clobazam) Launch  Received FDA approval as expected on November 1st for treatment of seizures associated with Lennox-Gastaut syndrome (LGS) in patients 2 years of age or olderPharmacokinetic (PK) data presented at American Epilepsy Society 2018 Annual Meeting and published in Epilepsia1Commercial organization with 50+ experienced professionals, in markets nationwide actively meeting with prescribers and payers – first scripts written Engagements will help to educate key customers on value of PharmFilm technology, in advance of a potential 2019 Libervant launch90% overlap in high volume prescriber base  Key corporate milestone in Aquestive’s transformation from a CDMO to a specialty pharmaceutical company  1 “Pharmacokinetics of clobazam oral soluble film,” https://onlinelibrary.wiley.com/doi/abs/10.1111/epi.14581 
 

 5  LibervantTM (diazepam) Buccal Film  Completed six (6) studies to date, including pivotal Adult EMU study, in line with FDA interactions to dateData presented at American Epilepsy Study (AES) meeting Long-term safety study ongoing and progressing wellContinue to enroll patients in Pediatric EMU and safety studiesUpcoming pre-NDA meeting with FDA will inform submission timing and strategy; Seeking to gain the FDA’s alignment on following criteria:Appropriate characterization of pharmacokinetic data in healthy volunteers and patientsProposal for appropriate dosing regimen based on studies and population PK modelProposal for providing safety data updates  Progressing toward NDA submission, pending outcome of pre-NDA meeting in mid-December 
 

 6  Suboxone® Sublingual Film  Appeals court lifted Preliminary Injunction, allowing DRL to enter market “at risk”; IP litigation continuesNo impact to Aquestive’s patent portfolio, no validity or infringement decision renderedProprietary products have additional unique patents expected to extend protection into the late 2030sRevenues from Suboxone are tied to manufacturing volume (not price), and derived from several current and potential sources where Aquestive is the sole and exclusive provider:US Branded orders from IndiviorAuthorized Generic orders from SandozAdditional non-U.S. volume, which is growing as a percent of business  Suboxone will remain a significant revenue contributor 4+ years 
 

 7  Aquestive Capital Resources  Proceeds from July IPO positions company to commercially launch its proprietary CNS productsImpact of Suboxone is manageable as variable cost structure will be adjusted to minimize any impact of lost revenuePotential monetizable royalty streams represent non-dilutive capital optionsAPL-130277 (Sunovion) - early 2019 PDUFAKP-415, -484, -879 (Kempharm) Solid cash and balance sheet available to fund current and future programsCompany strategy and plans were designed purposefully to shift from Suboxone/Indivior revenue base to proprietary products  Multi-dimensional business with the resources to fund growth prospects behind CNS franchise, early pipeline and diverse partner portfolio 
 

   AQST-305(octreotide)  Human PoC Data    APL-130277(apomorphine)  NDA Filed  PDUFA Date  Launch(1)    AQST-108(epinephrine)  IND  Phase 1 Data    Exservan(riluzole)  PDUFA Date  Launch    KP415(2)(d-methylphenidate)  Positive Top-Line Safety and Efficacy Data  Multiple Upcoming Near-Term Catalysts  Aquestive estimateAquestive is entitled to double digit percentages of any value generated by KP415      = Milestone Achieved  8      = Partnered product    2017  H1 2018  2019+  H2 2018    Sympazan(clobazam)  NDA Filed    Libervant(diazepam)  EMU Adult Data  PDUFA Date  Launch    NDA Submission    NDA Submission    NDA Submission (1)  Tentative ApprovalFinal Approval  Launch           
 

 Learn more about Aquestive Therapeutics, Inc.  9    December 12, 201810:40 am2018 Prescriptions for Success Healthcare ConferenceNew York, New York  Online at:investors.aquestive.com 
 

 Thank you 
 



Exhibit 99.2

 Corporate UpdateDecember 2018 
 

 2  Forward Looking Statements  Certain statements in this presentation and associated oral statements made by management may constitute "forward-looking statements.” Words such as “believes”, “expects”, “projects”, “future” and similar expressions often identify such forward-looking statements. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of the Company completing its development work, the risks of delays in FDA approval (or failure to approve) of our drug candidates as well as the risks inherent in commercializing a new product (including technology risks, market risks, financial risks and implementation risks, and other risks and uncertainties affecting the Company including those described in our Form S-1 with the Securities and Exchange Commission (“SEC”). The Company disclaims and is not under any obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events, or otherwise, except as required by applicable law. This presentation also contains estimates and other statistical data made by independent parties relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. By attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business.All third-party trademarks, including names, logos and brands, referenced by us in this presentation are property of their respective owners. All references to third-party trademarks are for identification purposes only. Such use should not be construed as an endorsement of the products or services of us or this potential offering.* LibervantTM, the preliminary brand name for Diazepam Buccal Film, was conditionally accepted by the U.S. Food and Drug Administration (FDA) and will be submitted for final FDA review and approval in the Diazepam Buccal Film New Drug Application (NDA).     
 

 Corporate Highlights  3  Broad, Late-Stage Product Pipeline  Two late-stage CNS product candidates aimed at improving treatment paradigmsComplex molecule product candidates in immunology and endocrinology targeting large market opportunities  Commercial-Stage, Innovative Technology & Global IP  Received FDA approval and launched SYMAPAZAN™, adjunctive treatment of seizures associated with Lennox-Gastaut syndromeCommercial team with numerous product launches, including Diastat, Onfi and others in CNS spaceWorld-class manufacturing capabilitiesPharmFilm technology allows unmet patient needs to be addressed in novel ways Extensive patents or patent applications provide protection to 2037  Revenue and Cash Flow from Successful Partnerships  Multiple collaborations covering products from early-stage to commercial~$50.6 million in revenue generated from licensed products and collaborations for first nine months 2018Cash flows re-invested in development of proprietary pipelineExperienced management team and board with track record of developing and commercializing pharmaceutical products 
 

 4  Strategic Evolution   Unlocking value by advancing proprietary CNS and complex molecules    Emerging Leader in Epilepsy & CNSDiazepam,Clobazam, Riluzole     Pioneer in Deliveryof Complex MoleculesEpinephrine, Octreotide    Marketed ProductsSuboxone, Zuplenz  Commercialization Team Build  Innovative Product Development  World Class Manufacturing  Leading Global Intellectual Property Portfolio   
 

 Proprietary and Partnered Pipeline Summary  5 
 

   AQST-305(octreotide)  Human PoC Data    APL-130277(apomorphine)  NDA Filed  PDUFA Date  Launch(1)    AQST-108(epinephrine)  IND  Phase 1 Data    Exservan(riluzole)  PDUFA Date  Launch    KP415(2)(d-methylphenidate)  Positive Top-Line Safety and Efficacy Data  Multiple Upcoming Near-Term Catalysts  Aquestive estimateAquestive is entitled to double digit percentages of any value generated by KP415      = Milestone Achieved  6      = Partnered product    2017  H1 2018  2019+  H2 2018    Sympazan(clobazam)  NDA Filed    Libervant(diazepam)  EMU Adult Data  PDUFA Date  Launch    NDA Submission    NDA Submission    NDA Submission (1)  Tentative ApprovalFinal Approval  Launch           
 

 Experienced Management Team & Board of Directors  7    Keith Kendall President, Chief Executive Officer & Director  Mark SchobelChief Innovation & Technology Officer  John MaxwellSVP, Chief Financial Officer  Theresa WoodSVP, Human Resources and Organizational Development  Peter BoydSVP, Operations and Value Delivery  Dan BarberSVP, Chief Strategy and Development Officer  Ken MarshallCommercial Leader  Doug BrattonFounding Partner and Chief Investment Officer, Crestline Investors / Ed Bass Group   Greg Brown, M.D.Founding Managing Director, Healthcare Royalty Partners  Sandy CostaFormer President & COO, Quintiles  James S. ScibettaCEO of Maverick Therapeutics, former President of Pacira Pharmaceuticals  Board of Directors  Leadership Team  Nancy LurkerCEO of EyePoint Pharmaceuticals (NASDAQ: EYPT), former CEO of PDI Corporation  John CochranPartner and COO, Crestline Investors / Ed Bass Group  Lori BraenderSVP, General Counsel 
 

 8  PharmFilm Technology  First FDA approved oral films for lingual, sublingual and combination drug deliveryMultiple advantages versus IV, tablet and liquid formulationsWorld leader in supplying oral films for prescription pharmaceutical products FDA- and DEA-inspected facilities with capacity sufficient for commercial quantities of products and product candidates currently in developmentRobust intellectual property estate with at least 200 approved patents and more than 75 pending patents 
 

 CNS Product Portfolio & Strategy 
 

 Sympazan(clobazam oral film)Launch underway 
 

 11  Sympazan: Positioning in LGS Treatment Paradigm      Patients with Epilepsy 3.4M   Patients with Refractory Seizures 1.2M     LGS Patients (55K)  Atypical LGS      Crushed Tablet or Solution Administered via G-tube   Solutions  Tablets    Crushed Tablet, Mixed with Food or Dissolved    Ability to Swallow   Compliance   Low   Moderate  High   High     Low  Lennox-Gastaut Syndrome Market  Lennox-Gastaut syndrome (LGS) is a rare, intractable form of epilepsy affecting ~55K patients in the US Medication administration perceived as significant unmet needApproximately 30-40% of LGS patients experience dysphagia Caregivers struggle through decades of difficult treatment regimens, dosing alternatives to address this daily challengeONFIApproximately 500K prescriptions annually Available only in tablet and suspension formulations LGS patients often cannot, or refuse to, swallowLeads to caregivers crushing tablets or using liquid formulationsCan result in patient receiving sub-optimal dose 
 

 Commercialization Strategy  Commercial leadership with multiple product starts, including launches of Diastat and ONFI30 person sales team, led by three seasoned Regional Directors, designed to support high prescribing HCPs in epilepsy space Completed home study and live training at National Sales Meeting alongside 30 cliniciansDeployed to introduce company, educated value of PharmFilm, schedule appointments and peer programsEstimated >90% prescribing physician overlap between Libervant and Sympazan to enable dedicated sales team to cover most of the marketPlan to expand ultimate sales team size of ~50 with 5 first line managers ahead of Libervant launchBuilt distribution network to ensure supply in pharmacyUS-focused commercialization strategy with option to partner ex-US  12 
 

 Libervant(diazepam buccal film) 
 

 14  Libervant: Untreated Patient Growth Opportunity   Epileptic seizures affect ~3.4 million patients in US200K+ new diagnoses per yearOnly ~250K doses of diazepam rectal gel prescribed annually, due to:18-step administration process increases caregiver burdenPatient dignity and respectInaccurate dosingTime to administerBroad label access to epilepsy at launch that includes refractory seizures Potential to expand rescue prescribing to ~1.2M patients with refractory seizures who are not treated or sub-optimally treated      Patients with Epilepsy 3.4M   Patients with Refractory Seizures 1.2M     Diastat (diazepam rectal gel)  Epileptic Seizures: Rescue Therapy Market        Administration  Cost  Efficacy  Abuse  Onset  Side Effects  Shelf Life  Compliance 
 

 15  Libervant: Proprietary Formulation with Potential to Expand Patient Usage   Buccal film administration of diazepamDissolves quickly and demonstrates rapid achievement of therapeutic blood levelsIn development as rescue therapy for breakthrough epileptic seizuresAlternative to Diastat® (diazepam rectal gel)Adult EMU study topline data to be presented as two late-breaking poster presentations at AES, December 2018Pre-NDA meeting scheduled for mid December 2018Prepared to commence rolling submission before year end assume positive meeting outcomeGranted orphan drug designation and fast track designation 
 

 Libervant: Pivotal Trial Design and Expected Timing  16  Additional clinical trials include a food effect, phase one study and a label comprehension study   Study  Patient Group  Primary Objectives   Secondary Objectives   Dose Proportionality Study (#162013)  Healthy adults   Demonstrate dose proportional plasma levels for 5, 10 and 15mg doses     Pivotal Bioavailability Study (#162021)  Healthy adults   Compare pharmacokinetics and bioavailability in healthy subjects to reference product (diazepam rectal gel)     Adult EMU Study(#160326 )  Adult patients with epilepsy (n=30)  Compare the pharmacokinetics and bioavailability in subjects with epilepsy in interictal condition, when they are not experiencing seizures, versus the ictal/peri-ictal condition, when they are experiencing seizures  Evaluate safety following single-dose administration Evaluate usability in the interictal and ictal/per-ictal conditions   Pediatric EMU Study (#160325)  Pediatric patients with epilepsy (n=16)      Safety Study (#42-1703)  Children, adolescents and adults with refractory seizures (n=100)  Safety and tolerability of chronic intermittent use of diazepam buccal film assessed by examination for any pathological changes in the oral mucosa and gustatory changes   General safety-tolerabilityEvaluate usability, including quality of life measures  Launch  EMU Study Starts  2018  2019  2017     PDUFA  Pre-NDA Meeting  Top-line Data  Interim Data Analysis      NDA Filed   
 

 17  Libervant: Healthy Volunteer Pivotal PK Data  Libervant produces peak diazepam plasma levels similar to diazepam rectal gel using lower doses of active ingredientPlot (right) shows 15 mg Libervant vs 20 mg DiastatLess inter-subject variability compared to all doses of Diastat  Fasted conditions; N=29-33, Trial #162021. Subjects 7 and 9 are non-responders to Diastat. 
 

 18  Libervant: No ‘Non-Responders’  Current standard of care (Diastat rectal gel):Exhibits a population subset that does not obtain expected plasma concentrations of diazepamLibervant: Consistent plasma concentrations Even Diastat ‘non-responders’ received acceptable plasma concentrations with Libervant  Performed under fasted conditions; Trial #162021   
 

 Libervant: Study Completed, Strong Results  19  Based on comparison of 21 subjects with valid pharmacokinetic profiles for both Treatment A and Treatment B 
 

 Libervant: Adult EMU Safety & Tolerability  20    Majority of the treatment-emergent adverse events (TEAE) in this study were classified as unrelated to study drugThe most common adverse events that were classified as probably related to study drug were somnolence and dizziness and were relatively infrequent (overall frequency of 5.7% of subjects and 2.9% of subjects, respectively)  FREQUENCY OF PATIENTS EXPERIENCING TREATMENT-EMERGENT ADVERSE EVENTS CONSIDERED POSSIBLY OR PROBABLY RELATED TO STUDY DRUG AND NUMBER OF EVENTS - SAFETY POPULATION        Adverse Events n (%)  Period A (N=33)  Period B (N=33)  Overall (N=35)  Somnolence  2 (6.1%)  0  2 (5.7%)  Dizziness  1 (3.0%)  0  1 (2.9%)  Hypoaesthesia  1 (3.0%)  0  1 (2.9%)  Nausea  0  1 (3.0%)  1 (2.9%)  Paraethesia oral  1 (3.0%)  1 (3.0%)  1 (2.9%) 
 

 Exservan(riluzole oral film) 
 

 22  Exservan (Riluzole)  Oral soluble film formulation of riluzole for the treatment of Amyotrophic Lateral Sclerosis (ALS)Potential to be the only formulation of riluzole that doesn’t require water or liquid for swallowingCompleted a pilot PK and pivotal PK study, as well as a food effect studyAll studies successfully shown bioequivalence to the reference listed drug, RilutekRecently completed Swallowing Safety Study primary objective of the study was to evaluate the effect, if any, on swallowing safety in subjects with ALSstudy successfully met its primary objective and shows that AQST-117 has no adverse effect on swallowing safety in subjects with ALS.Expect to submit an NDA by 1Q19 
 

 Complex Molecule Candidates & Partnered Products 
 

 24  AQST-108 (epinephrine): Injection to Oral  2017 injectable epinephrine market estimated to be approximately $1.7B and over 3.5M total prescriptionsPotential alternative to EpiPen® intramuscular injection, the market leader in anaphylaxis treatmentAQST-108 has the potential to:Reduce treatment burden Lower costs to healthcare systemAllow for more accurate dosing and patient compliance during times of life threatening anaphylaxis after exposure to allergensExpect to initiate next clinical trial in 1H 2019  Source: IQVIA, IQVIA Combined Audit, 03/2018  Auto-injector Delivery  Sublingual Film 
 

 25  AQST-108 (epinephrine): Proof of Concept Study  Successfully demonstrated ability to achieve significant oral absorption using PharmFilm technologyHighlighted the variability inherent in EpiPen administration  Mean profiles for Epinephrine Sublingual Film (ESF) compared to EpiPen® in Human Crossover Study  Mean profiles for EpiPen® in Human Crossover Study 
 

 26  AQST-108 (epinephrine): Optimized Formulation Appears Successful in Pig Model  
 

   27  AQST-305 (octreotide): Gateway to Peptides and Biologics via Sublingual Film  Alternative to Sandostatin LAR®, a monthly depot injectionMarket leader in treatment of acromegaly and neuroendocrine tumors$843 million in sales in 2017(1)Twice daily administration of sublingual film eliminates need for monthly depot intramuscular injectionSignificant patient burden associated with SandostatinPreclinical results demonstrated oral bioavailability levels of up to 10% vs. alternative technologies of <1%Dosed first patients in Q3 2018, with data by year-end 2018  IQVIA, IQVIA Combined Audit, 03/2018Strasburgeret al, Patient reported outcomes of parenteral somatostatin analogue injections in 195 patients with acromegaly,Eur J Endocrinol, 12/18/15 EJE-15-1042  Pain  Injection Site Reactions  Sub-optimal Symptom Control  Emotional Impact  Missed Work Days  Issues Associated with Sandostatin(2): 
 

 28  Validated Commercial Success of PharmFilm  Reduces potential for abuse and improves safety, compliance, dissolution, taste and textureMarket leader for treatment of opioid addiction that affects more than two million people in the United StatesOver one billion doses delivered to patientsCaptured ~54% of total prescriptions in first 9 months 2018, despite 12 alternative competitorsAquestive is sole and exclusive worldwide developer and manufacturer of brand and authorized genericAquestive volumes remain stable for 2018Future Aquestive volume driven by branded / CMS, authorized generic and non-US branded  
 

 29  Apomorphine (APL-130277): Late-Stage Partnership with Sunovion  Sunovion developed a sublingual film formulation of apomorphine utilizing Aquestive’s PharmFilm technology Currently delivered via injection (Apokyn Pen)Aims to fulfill unmet need in patients with dysphagiaNDA under review for the treatment of patients with Parkinson’s disease (PD) who experience motor fluctuations (OFF episodes) (affects ~500k U.S. patients)Reported positive top-line results from Phase 3 pivotal trial in January 2018PDUFA date in January 2019  Note: August 2016, Sunovion acquired Cynapsus, whose single asset is based on Aquestive technology, for $624M.Source: US WorldMeds, LLC; 2014.   Apokyn Pen: 7-Step Process(1) 
 

   AQST-305(octreotide)  Human PoC Data    APL-130277(apomorphine)  NDA Filed  PDUFA Date  Launch(1)    AQST-108(epinephrine)  IND  Phase 1 Data    Exservan(riluzole)  PDUFA Date  Launch    KP415(2)(d-methylphenidate)  Positive Top-Line Safety and Efficacy Data  Multiple Upcoming Near-Term Catalysts  Aquestive estimateAquestive is entitled to double digit percentages of any value generated by KP415      = Milestone Achieved  30      = Partnered product    2017  H1 2018  2019+  H2 2018    Sympazan(clobazam)  NDA Filed    Libervant(diazepam)  EMU Adult Data  PDUFA Date  Launch    NDA Submission    NDA Submission    NDA Submission (1)  Tentative ApprovalFinal Approval  Launch           
 

 Thank you