Aquestive Therapeutics has achieved a significant regulatory milestone with the U.S. Food and Drug Administration's approval of its New Drug Application for Anaphylm, a novel sublingual epinephrine product designed for the immediate treatment of severe allergic reactions. The FDA has established a Prescription Drug User Fee Act date of January 31, 2026, for the innovative anaphylaxis treatment.
Novel Sublingual Delivery System
Anaphylm distinguishes itself as a leading non-device-based epinephrine product candidate, offering several advantages over traditional emergency allergy treatments. The sublingual film formulation provides wallet portability, rapid onset, and high patient preference, positioning it as a compelling alternative to existing autoinjector devices such as EpiPen and Auvi-Q.
According to Aquestive management, clinical studies have demonstrated that Anaphylm achieves outcomes on par with established autoinjector products. The sublingual administration route represents a key differentiator from nasal spray-based epinephrine products, potentially offering improved patient compliance and ease of use during emergency situations.
Market Opportunity and Commercial Potential
The approval positions Anaphylm to compete in a substantial market opportunity, with the company targeting a $2 billion addressable market for severe allergic reaction treatments. The product's unique characteristics, including its non-device format and sublingual delivery mechanism, may enable it to capture significant market share from existing therapeutic options.
Company Background and Technology Platform
Aquestive Therapeutics, headquartered in New Jersey and incorporated in 2004, specializes in developing and marketing pharmaceutical solutions to address unmet medical needs. The company leverages innovative drug delivery technologies, including its proprietary PharmFilm and Adrenaverse platforms, to create differentiated therapeutic products.
Analyst Response
Following the FDA approval announcement, H.C. Wainwright analysts reaffirmed their Buy rating on Aquestive Therapeutics stock while maintaining a $10.00 price target. The positive analyst outlook reflects confidence in the commercial potential of Anaphylm and its ability to address current limitations in the severe allergic reaction treatment landscape.
