By Kelly Cloonan

Shares of Aquestive Therapeutics slid after the company logged a steeper loss and a drop in revenue in the first quarter, and cut its full-year sales guidance.

The stock was down 23% to $2.19 on Tuesday, after touching a 52-week low of $2.15 earlier in the session. Shares have declined 33% in the past 12 months.

After the close on Monday, Aquestive posted a loss of $22.9 million, or 24 cents per share, compared to a loss of $12.8 million, or 17 cents a share, a year earlier. Analysts polled by FactSet expected a loss of 17 cents a share.

Revenue fell 28% to $8.7 million. Analysts polled by FactSet expected sales of $12.2 million.

The revenue decrease was driven by lower sales of Aquestive's Suboxone medication as well as lower license and supply revenue, which was partially offset by higher proprietary product revenue, the company said.

For the full year, the company lowered its revenue guidance to $44 million to $50 million from a previous range of $47 million to $56 million. Analysts expect $49.6 million.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 13, 2025 11:57 ET (15:57 GMT)

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