Leerink initiated coverage of Aquestive Therapeutics with an Outperform rating and $8 price target. Aquestive’s Anaphylm is the first no-device, oral sublingual epinephrine film product to potentially launch in the U.S., and it could offer patients a novel no-needle, easy-to-use, pain-free rescue option for Type I allergic reactions, the analyst tells investors in a research note. The firm thinks Anaphylm could be approved and secure substantial market share as the second no-needle epinephrine to enter the market, capitalizing upon pent-up demand for more convenient options. Leerink assumes Anaphylm achieves $550M in peak U.S. sales in FY33E.
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