Aquestive Stock Jumps After-Hours As CEO Sees $1B ‘Blockbuster’ Potential For Oral Allergy Film — Retail Sees Stock As Buyout Candidate

Shares of Aquestive Therapeutics jumped more than 11% in after-hours trading Thursday after CEO Dan Barber said the company’s oral epinephrine film, Anaphylm, could become a “blockbuster” drug with as much as $1 billion in peak global sales.

Barber said in an interview on CNBC’s "Mad Money" with Jim Cramer, noting that despite winning six FDA approvals and distributing 2.5 billion doses worldwide over the past two decades, Aquestive has historically remained small, with annual revenue of $50 million to $70 million. 

He said Anaphylm, designed to treat severe allergic reactions with a dissolvable sublingual film instead of an auto-injector, represents the company’s first chance at a broad-market product.

Cramer, who first highlighted the stock earlier this month as a speculative pick, pointed to Anaphylm’s potential as an alternative to epinephrine auto-injectors like the EpiPen.

Earlier this month, Aquestive said that the FDA has determined an advisory committee meeting is not required for Anaphylm, maintaining the Prescription Drug User Fee Act target action date of January 31, 2026. 

Oppenheimer raised its price target on Aquestive to $8 from $7 following the announcement, reiterating its ‘Outperform’ rating and noting that investors interpret the FDA decision as increasing the chances of approval.

The company has also outlined its regulatory strategy outside the U.S., saying in July that Health Canada granted a meeting to discuss its planned New Drug Submission for Anaphylm and that an initial briefing package has been submitted to the European Medicines Agency. 

Aquestive said Canada and Europe represent “ideal initial international markets” for the drug, given regulatory alignment and patient need.

To prepare for a potential launch, Aquestive has raised about $160 million in financing, which Barber said positions the company to ensure broad outreach to providers, caregivers, and patients once the FDA decision is made.

On Stocktwits, retail sentiment for Aquestive was ‘bullish’ amid ‘high’ message volume.

One user said that Barber’s appearance on CNBC’s “Mad Money” show was a turning point for Aquestive Therapeutics, saying the CEO “really painted the company in a great light” by backing up Anaphylm’s projected value with current epinephrine market data. 

Another user suggested that Aquestive could become a buyout target within two years of Anaphylm sales, predicting the stock could climb from about $10 to $25 if that scenario were to play out.

Aquestive’s stock has risen 47.8% so far in 2025.

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