<SEC-DOCUMENT>0001140361-21-003824.txt : 20210209
<SEC-HEADER>0001140361-21-003824.hdr.sgml : 20210209
<ACCEPTANCE-DATETIME>20210209073511
ACCESSION NUMBER:		0001140361-21-003824
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210208
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210209
DATE AS OF CHANGE:		20210209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Aquestive Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001398733
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				208623253
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38599
		FILM NUMBER:		21603947

	BUSINESS ADDRESS:	
		STREET 1:		30 TECHNOLOGY DRIVE
		CITY:			WARREN
		STATE:			NJ
		ZIP:			07059
		BUSINESS PHONE:		908-941-1900

	MAIL ADDRESS:	
		STREET 1:		30 TECHNOLOGY DRIVE
		CITY:			WARREN
		STATE:			NJ
		ZIP:			07059

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MonoSol Rx, Inc.
		DATE OF NAME CHANGE:	20070507
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>brhc10019904_8k.htm
<DESCRIPTION>8-K
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      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold;">Washington, DC 20549</div>
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      <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">FORM 8-K</div>
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      <div style="text-align: center; color: #000000; font-weight: bold;">CURRENT REPORT</div>
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      <div style="text-align: center; color: #000000; font-weight: bold;">PURSUANT TO SECTION 13 OR 15(d) OF THE</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</div>
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      <div style="text-align: center; color: #000000; font-weight: bold;">Date of Report (Date of earliest event reported):&#160; February 8, 2021</div>
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      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 24pt;">Aquestive Therapeutics, Inc.</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">(Exact name of Registrant as specified in its charter)</div>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Delaware</div>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">001-38599</div>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">82-3827296</div>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(State or Other Jurisdiction of Incorporation or Organization)</div>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(Commission File Number)</div>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(I.R.S. Employer Identification No.)</div>
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      <div style="text-align: center; color: #000000; font-weight: bold;">30 Technology Drive</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Warren, NJ 07059</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">(908) 941-1900</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant&#8217;s Principal Executive Offices)</div>
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      <div style="text-align: center; color: #000000; font-weight: bold;">Not Applicable</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">(Former name or former address, if changed since last report)</div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="color: #000000;">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:</div>
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      </div>
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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(0, 0, 0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(0, 0, 0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
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    </div>
    <div style="color: #000000;">Securities registered pursuant to Section 12(b) of the Act:</div>
    <div>&#160;</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">Title of each class</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">Trading Symbol(s)</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">Name of each exchange on which registered</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">Common Stock, par value $0.001 per share</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">AQST</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">Nasdaq Global Market</div>
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    <div>
      <div style="text-align: justify; color: #000000;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this
        chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2 of this chapter).</div>
      <div><br>
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    <div>
      <div style="color: rgb(0, 0, 0);">Emerging growth company &#9746;</div>
    </div>
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      <div><br>
      </div>
      <div style="text-align: justify; color: #000000;">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. &#9744;</div>
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    <div style="text-align: justify;"><font style="color: #000000;"> </font><br>
      </div>
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          <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 5.02</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>
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    <div><br>
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    <div>
      <div style="text-align: justify;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);">On
            February 8, 2021, in connection with the events described under Item 5.02(d) below, Douglas K. Bratton notified the Board of Directors (the &#8220;Board&#8221;) of Aquestive Therapeutics, Inc. (the &#8220;Company&#8221;) of his intention to resign from the Board
            effective as of February 10, 2021. Mr. Bratton&#8217;s departure is not due to any disagreement with the Company.</font></div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);">On
            February 8, 2021, the Board appointed Julie Krop, MD and Marco Taglietti, MD to the Board, effective as of February 10, 2021, to fill the vacancies created by Mr. Bratton&#8217;s departure and the increase in the size of the Board by one to a total
            of eight members. Dr. Krop and Dr. Taglietti were each appointed to Class III and will serve until the 2021 Annual Meeting of Stockholders, where they will stand for election. Dr. Krop will serve on the Nominating and Corporate Governance
            Committee, and Dr. Taglietti will serve on the Audit Committee.</font></div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; text-indent: 45pt; color: rgb(0, 0, 0);">The Board affirmatively determined that each of Drs. Krop and Taglietti will be an &#8220;independent director&#8221; under
        applicable rules of the Nasdaq Global Market, and that Dr. Taglietti satisfies the independence requirements for audit committee members set forth in Rule 10A-3 promulgated under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;)
        and the rules of the Nasdaq Global Market.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 45pt; color: rgb(0, 0, 0);">Drs. Krop and Taglietti will receive compensation consistent with that of the Company&#8217;s other non-employee directors
        as described under the heading &#8220;Non-Employee Director Compensation&#8221; in the Company&#8217;s definitive proxy statement for the 2020 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on April 29, 2020.&#160; Under our
        non-employee director compensation program, Drs. Krop and Taglietti will each receive an initial grant of 28,500 stock options, effective on the second full trading date following the Company&#8217;s release of fourth quarter/fiscal year 2020 earnings in
        accordance with the Company&#8217;s equity grant policy.&#160; These options will vest over three years in annual one-third increments.</div>
      <div><br>
      </div>
    </div>
    <div style="text-align: justify; text-indent: 45pt; color: rgb(0, 0, 0);">The selection of Drs. Krop and Taglietti to serve as members of the Board was not made pursuant to any arrangement or
      understanding with any other person. In addition, there are no transactions involving Dr. Krop or Dr. Taglietti requiring disclosure under Item 404(a) of Regulation S-K.</div>
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            <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 7.01</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Regulation FD Disclosure.</div>
            </td>
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      <div><br>
      </div>
    </div>
    <div style="text-align: justify; text-indent: 45pt; color: rgb(0, 0, 0);">On February 9, 2021, the Company issued a press release announcing the matters described in Item 5.02 above.&#160; A copy of
      the Company&#8217;s press release is attached hereto as Exhibit 99.1 and incorporated into this Item 7.01 by reference.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 45pt; color: rgb(0, 0, 0);">The information in this Item 7.01 (including Exhibit 99.1) is being furnished pursuant to Item 7.01 and shall not be
      deemed to be &#8220;filed&#8221; for purposes of, or otherwise subject to the liabilities of, Section 18 of the Exchange Act, 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,
      except as shall be expressly set forth by specific reference in any such filing.</div>
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          <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 9.01</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Financial Statements and Exhibits.</div>
          </td>
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              <div style="text-align: left;"><font style="color: rgb(0, 0, 0);">(d)</font></div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left;"><font style="color: rgb(0, 0, 0);">Exhibits.</font></div>
            </td>
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          <td nowrap="nowrap" style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0);">Exhibit Number</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 89%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0);">Description</div>
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          <td style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 89%; vertical-align: top;">&#160;</td>
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          <td style="width: 10%; vertical-align: top;">
            <div><a href="brhc10019904_ex99-1.htm">99.1</a></div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 89%; vertical-align: top;">
            <div>
              <div style="text-align: justify; color: rgb(0, 0, 0);">Press Release, dated February 9, 2021.</div>
            </div>
          </td>
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      <div style="text-align: center; color: #000000; font-weight: bold;">SIGNATURE</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">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.</div>
    </div>
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      <div><br>
      </div>
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          <td style="width: 49.96%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Dated: February 9, 2021</div>
          </td>
          <td style="width: 50.04%; vertical-align: top;" colspan="2">
            <div style="color: rgb(0, 0, 0);">Aquestive Therapeutics, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.96%; vertical-align: top;">&#160;</td>
          <td style="width: 3.09%; vertical-align: top;">&#160;</td>
          <td style="width: 46.96%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.96%; vertical-align: top;">&#160;</td>
          <td style="width: 3.09%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">By:</div>
          </td>
          <td style="width: 46.96%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0);">/s/ Lori J. Braender</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.96%; vertical-align: top;">&#160;</td>
          <td style="width: 3.09%; vertical-align: top;">&#160;</td>
          <td style="width: 46.96%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Name: Lori J. Braender</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.96%; vertical-align: top;">&#160;</td>
          <td style="width: 3.09%; vertical-align: top;">&#160;</td>
          <td style="width: 46.96%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Title: Senior Vice President, General Counsel</div>
          </td>
        </tr>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc10019904_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">Exhibit 99.1</div>
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    <div style="text-align: center; font-weight: bold;">Aquestive Therapeutics Strengthens Board of Directors with Appointments of</div>
    <div style="text-align: center; font-weight: bold;">Julie Krop, M.D., and Marco Taglietti, M.D., and</div>
    <div style="text-align: center; font-weight: bold;">Announces Resignation of Douglas K. Bratton from Board of Directors</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Warren, NJ, February 9, 2021 &#8211; Aquestive Therapeutics, Inc. (NASDAQ: AQST), a pharmaceutical company focused on developing and commercializing differentiated products that address patients&#8217; unmet needs and solve
      therapeutic problems, today announced the appointment of Julie Krop, M.D., Chief Medical Officer of Freeline Therapeutics&#160; (NASDAQ: FRLN), and Marco Taglietti, M.D., Director, President and Chief Executive Officer of SCYNEXIS (NASDAQ: SCYX), to the
      Board of Directors of the Company effective February 10, 2021. Aquestive also announced the resignation of Douglas K. Bratton from the Board of Directors after more than 17 years of service.&#160; Aquestive&#8217;s Board of Directors will now be comprised of
      eight Directors, seven of whom are independent.&#160; Dr. Krop will serve as a member of the Board&#8217;s Nominating and Corporate Governance Committee and Dr. Taglietti will serve as a member of the Board&#8217;s Audit Committee.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;We are delighted to welcome Julie and Marco as new independent directors to the Aquestive Board of Directors," said Santo Costa, Aquestive&#8217;s Chairman of the Board. "Their significant expertise in the pharmaceutical
      and biotechnology industry and impressive backgrounds complement our Board of Directors&#8217; skills and experiences. We are confident they will provide valuable perspectives as we continue to execute our strategy and enhance value for the Company&#8217;s
      shareholders.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Dr. Krop stated, &#8220;I am thrilled to join the Board of Directors of Aquestive and look forward to working with the Board and the leadership team to advance the Company&#8217;s mission of providing novel alternatives to
      invasively administered standard of care therapies. I am particularly excited about helping management guide Aquestive&#8217;s proprietary orally administered epinephrine through clinical development. This novel formulation of epinephrine has the potential
      to eliminate the burden of intramuscular or subcutaneous injections for patients at risk of anaphylaxis due to severe allergies.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Dr. Taglietti commented, &#8220;Aquestive is at an important stage of its evolution and I am delighted to join the Board of Directors during this exciting time.&#160; I look forward to contributing to Aquestive&#8217;s continued growth
      and success as the Company advances its Libervant&#8482; (diazepam) Buccal Film application through approval and executes on its innovative development activities with the potential to change patients&#8217; lives.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;Julie and Marco join Aquestive at an exciting time as we continue to focus on developing and bringing to market valuable products in the CNS and allergy spaces. Julie and Marco&#8217;s extensive collective experience in
      leading clinical development, regulatory strategies and commercialization of key value assets is a great addition and complement to the skills already present on our board,&#8221; remarked Keith Kendall, Director, President and Chief Executive Officer of
      Aquestive. &#8220;We&#8217;ve experienced significant growth and strengthened our capabilities as a commercial pharmaceutical company under Doug&#8217;s leadership as the original Chairman of the Board and then director. I would like to thank him for his contributions
      and expert guidance that have well positioned Aquestive for continued momentum and success.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;On behalf of the Board of Directors and the Company, I would like to thank Doug for his more than 17 years of service to our Board, including as former Chairman, in guiding the Company from its start-up phase to a
      public commercial pharmaceutical company and leader in the film-based therapeutics industry,&#8221; said Mr. Costa.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;It has been a great privilege to serve as a director and former Chairman of Aquestive&#8217;s Board of Directors, the members of which I hold in very high regard. I&#8217;d like to thank Keith, his team, and the Board for many
      exciting and satisfying years, and look forward to watching them accomplish even more great things for Aquestive in the months and years to come,&#8221; stated Mr. Bratton.</div>
    <div><br>
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    <div style="text-align: justify; font-weight: bold;">About Douglas K. Bratton</div>
    <div style="text-align: justify;">Mr. Bratton has served as a member of the Company&#8217;s Board of Directors since January 2004 and was the Chairman of the Board from January 2004 until August 2018. Mr. Bratton is the Founder, President and Chief
      Investment Officer of Crestline Investors, an institutional alternative investment management firm. He has been an investment professional specializing in alternative asset strategies since 1983 and has managed assets on behalf of the Bass family of
      Fort Worth, Texas since 1988.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">About Julie Krop, M.D.</div>
    <div style="text-align: justify;">Dr. Krop is a seasoned biotech executive with more than two decades of experience successfully designing and executing clinical development programs from early stage development all the way through FDA approval.&#160; She
      has held senior leadership roles across clinical development, regulatory affairs, clinical operations, pharmacovigilance, medical affairs and program management during her career in the pharmaceutical and biotechnology industry.&#160; She currently serves
      as the Chief Medical Officer of Freeline Therapeutics (NASDAQ: FRLN). Prior to assuming her position with Freeline Therapeutics, Dr. Krop was the Chief Medical Officer and Executive Vice President, Development, at AMAG Pharmaceuticals (NASDAQ: AMAG)
      from 2015 to 2020. From 2012 to 2015, Dr. Krop served as the Vice President, Clinical Development for Vertex Pharmaceuticals (NASDAQ: VRTX).&#160; In addition, Dr. Krop was Vice President, Clinical Development and Regulatory Affairs for Stryker Biotech
      (NYSE: SYK) from 2006 to 2012.&#160; Dr. Krop received a B.A. from Brown University and her M.D. from Brown University School of Medicine.&#160; She completed her fellowship in the Department of Endocrinology at the Johns Hopkins University School of Medicine
      where she was also a Robert Wood Johnson Foundation Clinical Scholar.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">About Marco Taglietti, M.D.</div>
    <div style="text-align: justify;">Dr. Taglietti has more than three decades of experience in the pharmaceutical and biotechnology industry.&#160; He currently serves as a Director and President and Chief Executive Officer of SCYNEXIS Inc. (NASDAQ: SCYX).
      Prior to joining SCYNEXIS, Dr. Taglietti held various executive positions with Forest Laboratories (now AbbVie (NYSE: ABBV)) from 2007 until 2014, including President, Forest Research Institute, Chief Medical Officer and Executive Corporate Vice
      President, Research &amp; Development.&#160; Dr. Taglietti was also the Senior Vice President, Head of Global Research and Development for Stiefel Laboratories, Inc. (now a GlaxoSmithKline company) from 2004 until 2007 and served in a number of executive
      positions from 1992 to 2004 with Schering-Plough Research Institute, including Vice President, Clinical Research Anti-Infectives, CNS, Dermatology and Endocrinology.&#160; From 1987 until 1992, Dr. Taglietti served in a number of executive positions with
      Marion Merrell Dow Research Institute, including as the European Product Team Leader &#8211; Anti-Infectives.&#160; Dr. Taglietti previously served on the boards of directors of Delcath (NASDAQ: DCTH) from 2014 to 2020 and NephroGenex (NASDAQ: NRX) from 2014 to
      2017.&#160; Dr. Taglietti also served as a director of Stiefel International, Ltd., a private company, from 2004 to 2007 and a director of TransCelerate BioPharma, a non-profit pharma coalition dedicated to streamlining and accelerating the research and
      development of innovative new therapies, from 2013 to 2014.&#160; Since 2011, Dr. Taglietti has served on the board of directors of BioNJ, a life sciences trade association in New Jersey.&#160; In addition, Dr. Taglietti served on the board of directors of
      HINJ, Health Institute of New Jersey, a trade association for the leading research-based biopharmaceutical and medical technology companies in New Jersey, from 2011 to 2014, and is currently on the boards of directors of Orchestra of St. Luke, a New
      York City based orchestra, and American Foundation for Suicide Prevention, the largest non-profit organization dedicated to saving lives and bringing hope to those affected by suicide.&#160; Dr. Taglietti received his Degree in Medicine from the
      University of Pavia, Italy.</div>
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    <div style="font-weight: bold;">About Aquestive Therapeutics</div>
    <div style="text-align: justify;">Aquestive Therapeutics is a pharmaceutical company that applies innovative technology to solve therapeutic problems and improve medicines for patients. The Company has commercialized one internally-developed
      proprietary product to date, Sympazan&#174; (clobazam) oral film, has a commercial proprietary product pipeline focused on the treatment of diseases of the central nervous system, or CNS, and other unmet needs, and is developing orally administered
      complex molecules to provide <a name="z_Hlk62827767"></a>alternatives to invasively administered standard of care therapies. The Company also collaborates with other pharmaceutical companies to bring new molecules to market using proprietary,
      best-in-class technologies, like PharmFilm&#174;, and has proven capabilities for drug development and commercialization.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Forward-Looking Statements</div>
    <div style="text-align: justify;">Certain statements in this press release are &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221; &#8220;expect,&#8221; &#8220;estimate,&#8221;
      &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the advancement of Libervant
      and other product candidates through the regulatory and development pipeline; and business strategies, market opportunities, and other statements that are not historical facts.&#160; These forward-looking statements are subject to the uncertain impact of
      the COVID-19 global pandemic on our business including with respect to our clinical trials including site initiation, patient enrollment and timing and adequacy of clinical trials; on regulatory submissions and regulatory reviews and approvals of our
      product candidates; pharmaceutical ingredient and other raw materials supply chain, manufacture, and distribution; sale of and demand for our products; our liquidity and availability of capital resources; customer demand for our products and
      services; customers&#8217; ability to pay for goods and services; and ongoing availability of an appropriate labor force and skilled professionals.&#160; Given these uncertainties, the Company is unable to provide assurance that operations can be maintained as
      planned prior to the COVID-19 pandemic.</div>
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    </div>
    <div style="text-align: justify;">These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risks 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, risks associated with the Company's development work, including any delays or changes to the timing, cost and success of our product development activities and
      clinical trials and plans for AQST-108 and our other drug candidates; risk of delays in FDA approval of our drug candidate Libervant and AQST-108 and our other drug candidates or failure to receive approval; ability to address the concerns identified
      in the FDA&#8217;s Complete Response Letter dated September 25, 2020 regarding the New Drug Application for Libervant; risk of our ability to demonstrate to the FDA &#8220;clinical superiority&#8221; within the meaning of the FDA regulations of Libervant relative to
      FDA-approved diazepam rectal gel and nasal spray products including by establishing a major contribution to patient care within the meaning of FDA regulations relative to the approved products as well as risks related to other potential pathways or
      positions which are or may in the future be advanced to the FDA to overcome the seven year orphan drug exclusivity granted by the FDA for the approved nasal spray product of a competitor in the U.S. and there can be no assurance that we will be
      successful; risk that a competitor obtains FDA orphan drug exclusivity for a product with the same active moiety as any of our other drug products for which we are seeking FDA approval and that such earlier approved competitor orphan drug blocks such
      other product candidates in the U.S. for seven years for the same indication; risk inherent in commercializing a new product (including technology risks, financial risks, market risks and implementation risks and regulatory limitations); risks and
      uncertainties concerning the royalty and other revenue stream of the KYNMOBI&#8482; monetization transaction, achievement of&#160; royalty targets worldwide or in any jurisdiction and certain other commercial targets required for contingent payments under the
      monetization transaction, and of sufficiency of net proceeds of the monetization transaction after satisfaction of and compliance with 12.5% Senior Notes obligations, as applicable, and for funding the Company&#8217;s operations; risk of development of our
      sales and marketing capabilities; risk of legal costs associated with and the outcome of our patent litigation challenging third party at risk generic sale of our proprietary products; risk of sufficient capital and cash resources, including access
      to available debt and equity financing and revenues from operations, to satisfy all of our short-term and longer term cash requirements and other cash needs, at the times and in the amounts needed; risk of failure to satisfy all financial and other
      debt covenants and of any default; our and our competitors&#8217; orphan drug approval and resulting drug exclusivity for our products or products of our competitors; short-term and long-term liquidity and cash requirements, cash funding and cash burn;
      risk related to government claims against Indivior for which we license, manufacture and sell Suboxone&#174; and which accounts for the substantial part of our current operating revenues; risk associated with Indivior&#8217;s cessation of production of its
      authorized generic buprenorphine naloxone film product, including the impact from loss of orders for the authorized generic product and risk of eroding market share for Suboxone and risk of sunsetting product; risks related to the outsourcing of
      certain marketing and other operational and staff functions to third parties; risk of the rate and degree of market acceptance of our product and product candidates; the success of any competing products, including generics; risk of the size and
      growth of our product markets; risks of compliance with all FDA and other governmental and customer requirements for our manufacturing facilities; risks associated with intellectual property rights and infringement claims relating to the Company's
      products; risk of unexpected patent developments; the impact of existing and future legislation and regulatory provisions on product exclusivity; legislation or regulatory actions affecting pharmaceutical product pricing, reimbursement or access;
      claims and risks that may arise regarding the safety or efficacy of the Company's products and product candidates; risk of loss of significant customers; risks related to legal proceedings, including patent infringement, investigative and antitrust
      litigation matters; changes in government laws and regulations; risk of product recalls and withdrawals; uncertainties related to general economic, political, business, industry, regulatory and market conditions and other unusual items; and other
      uncertainties affecting the Company described in the &#8220;Risk Factors&#8221; section and in other sections included in our Annual Report on Form 10 K, in our Quarterly Reports on Form 10-Q, and in our Current Reports on Form 8-K filed with the Securities
      Exchange Commission (SEC). Given those uncertainties, you should not place undue reliance on these forward-looking statements, which speak only as of the date made. All subsequent forward-looking statements attributable to us or any person acting on
      our behalf are expressly qualified in their entirety by this cautionary statement. The Company assumes no obligation to update forward-looking statements or outlook or guidance after the date of this press release whether as a result of new
      information, future events or otherwise, except as may be required by applicable law.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">PharmFilm&#174;, Sympazan&#174; and the Aquestive logo are registered trademarks of Aquestive Therapeutics, Inc.&#160; All other registered trademarks referenced herein are the property of their respective owners.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Investor inquiries:</div>
    <div>Westwicke, an ICR Company</div>
    <div>Stephanie Carrington</div>
    <div>stephanie.carington@westwicke.com</div>
    <div>646-277-1282</div>
  </div>
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