Wedbush analyst Andreas Argyrides downgraded Aquestive Therapeutics to Neutral from Outperform with a price target of $3, down from $4, after assuming coverage of the name. The firm cites limited cash runway. On Jan. 6, Aquestive announced unaudited cash of $27M as of Dec. 31, 2022 providing runway into Q3 2023, including the upfront and milestone payment from the Assertio agreement announced in Oct. 2022. Wedbush sees a need for additional near-term financing given the company has less than a year of cash left. Until the cash overhang is lifted, the firm remains cautious around Aquestive’s ability to finance AQST-109 through the rest of clinical development.
Published first on TheFly
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