<p>新泽西州沃伦，2026 年 5 月 12 日（全球新闻通讯社）—— Aquestive Therapeutics, Inc.（纳斯达克：AQST）（“Aquestive” 或 “公司”）是一家通过创新科学和交付技术推进药物研发，以显著改善患者生活的制药公司，今天宣布与 Oaktree Capital Management, L.P.（“Oaktree”）管理的资金重新融资其现有债务设施，获得新的 1.5 亿美元债务设施。</p>
<p>此次交易为资金启动 Anaphylm™（如果获得 FDA 批准）提供了额外的灵活性。在交易完成时，Oaktree 提供了 5500 万美元，主要用于偿还公司现有的 4500 万美元贷款及相关费用。在美国食品药品监督管理局（FDA）批准 Anaphylm 并满足其他常规条件后，将提供额外的 2000 万美元。第三笔 2500 万美元将在达到特定销售里程碑后提供，最后一笔最多 5000 万美元将在贷款方与公司双方同意的情况下提供。公司将仅支付新五年期设施的利息，所有未偿还的本金将在到期时到期。</p>
<p>“我们很高兴能与 Oaktree 建立合作关系，Oaktree 在生命科学债务融资领域是一家成熟的领导者，” Aquestive Therapeutics 首席执行官 Daniel Barber 表示。“新的 1.5 亿美元债务设施将帮助 Aquestive 在未来几年推动增长。通过这项协议，我们将未来三年内的本金债务偿还从 4500 万美元减少到零，降低与之前债务协议相比的利率，完成与 RTW Investments, L.P.的战略融资协议下的预批准要求，并为 Anaphylm 的潜在推出解锁额外资本（如果获得 FDA 批准）。</p>
<p>“我们很高兴在公司发展的这个激动人心的阶段与 Aquestive 合作，并相信 Anaphylm 有潜力成为真正具有变革性的急救治疗，帮助遭受严重过敏反应（包括过敏性休克）的患者，” Oaktree 生命科学贷款董事总经理 Rahul Anand 表示。“此次交易强调了 Oaktree 为开发新型药物的公司提供可扩展资本解决方案的承诺。我们期待支持 Aquestive 管理团队，帮助他们将这一重要疗法带给全球患者和医疗服务提供者。”</p>
<p>Oaktree 是全球生命科学行业债务和特许权融资的领先提供者。自 2020 年以来，Oaktree 管理的资金已承诺在医疗保健领域进行超过 60 亿美元的 45 项投资。</p>
<p>Cantor Fitzgerald 担任 Aquestive 的唯一配售代理。Dechert LLP 担任 Aquestive 的法律顾问，Morgan, Lewis &amp; Bockius LLP 担任 Oaktree 的法律顾问。</p>
<p><strong>关于 Aquestive Therapeutics</strong> Aquestive 是一家通过创新科学和交付技术推进药物研发，以显著改善患者生活的制药公司。作为全球领先的口服薄膜药物交付公司，Aquestive 既是其自有专利产品的开发者，也是合同开发和制造组织（CDMO），总部位于新泽西州，在印第安纳州设有美国制造设施。该公司是四种由其许可方在六大洲市场销售的商业化产品的独家制造商，使用专有的最佳技术，如 PharmFilm®。Aquestive 的 AdrenaVerse™平台包含超过 20 种肾上腺素前药的库，能够追求各种潜在的过敏和皮肤病适应症。该公司正在推进 Anaphylm™（dibutepinephrine）舌下薄膜用于治疗严重过敏反应，包括过敏性休克，以及 AQST-108（肾上腺素前药）外用凝胶用于各种潜在的皮肤病状况，包括斑秃。有关更多信息，请访问 Aquestive.com 并在 LinkedIn 上关注我们。</p>
<p><strong>关于 Anaphylm™（dibutepinephrine）舌下薄膜</strong> Anaphylm™（dibutepinephrine）舌下薄膜是一种基于聚合物基质的肾上腺素前药研究药物。Anaphylm 的大小类似于邮票，重量不到一盎司，接触时开始溶解。给药时无需水或吞咽。Anaphylm 的主要包装比普通信用卡更薄更小，可以放在口袋中，并设计成能够承受天气变化，如雨水和/或阳光的暴露。Anaphylm 的 AQST-109 商标名称已获得 FDA 有条件批准。Anaphylm 专有名称的最终批准取决于 FDA 对该产品候选者的批准。</p>
<p><strong>关于 Oaktree</strong></p>
<p>Oaktree 是全球投资管理领域的领导者，专注于另类投资，截至 2025 年 12 月 31 日管理的资产达到 2230 亿美元。该公司强调在信贷、股权和房地产投资中采取机会主义、价值导向和风险控制的方法。公司拥有超过 1500 名员工，在全球 26 个城市设有办事处。有关更多信息，请访问 Oaktree 的网站 http://www.oaktreecapital.com/</p>
<p><strong>前瞻性声明</strong></p>
<p>本新闻稿包含根据 1995 年《私人证券诉讼改革法》定义的某些前瞻性陈述。诸如 “相信”、“预期”、“计划”、“期望”、“估计”、“打算”、“可能”、“将” 或这些术语的否定形式，以及类似的表达，旨在识别前瞻性陈述。这些前瞻性陈述包括但不限于关于我们产品候选者的进展及相关时间安排的陈述，包括 Anaphylm™（二丁肾上腺素）舌下膜和 AQST-108（肾上腺素前药）外用凝胶，通过临床开发和美国食品药品监督管理局（FDA）对各自目标适应症的批准；Anaphylm 在美国以外的潜在国际监管申请和市场授权的进展及相关时间安排；以及如果 Anaphylm 获得 FDA 批准，Anaphylm 将是首个也是唯一的肾上腺素口服给药。这些前瞻性陈述基于公司的当前预期和信念，并受到多种风险和不确定性的影响，这些风险和不确定性可能导致实际结果与前瞻性陈述中描述的结果有实质性差异。这些风险和不确定性包括但不限于与公司开发工作相关的风险，包括与 Anaphylm 和 AQST-108 相关的产品开发活动和临床试验的时间、成本和成功的任何延迟或变化，以及在其向美国证券交易委员会提交的《10-K 表格年报》、《10-Q 表格季度报告》和《8-K 表格当前报告》中描述的其他影响公司的风险和不确定性。鉴于这些不确定性，您不应对这些前瞻性陈述过于依赖，这些陈述仅在作出时有效。所有后续归因于公司或其代表的前瞻性陈述均完全受到此警示声明的明确限定。公司没有义务在本新闻稿日期之后更新前瞻性陈述或展望或指引，无论是由于新信息、未来事件还是其他原因，除非适用法律要求。</p>
<p>PharmFilm®和 Aquestive 标志是 Aquestive Therapeutics, Inc.的注册商标。</p>
<p><strong>投资者咨询</strong></p>
<p>Astr Partners</p>
<p>Brian Korb</p>
<p>Brian.korb@astrpartners.com</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RjeE9ETTRPQ00zTlRrM09UZ3hJekl4TURBd09UYz0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RjeE9ETTRPQ00zTlRrM09UZ3hJekl4TURBd09UYz0"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/ODViMjQ4NDYtZTcxYi00MTEzLTg2OTgtMGU2NDZmN2M3OTNlLTExMTE2NjgtMjAyNi0wNS0xMi1lbg==/tiny/Aquestive-Therapeutics-Inc-.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/ODViMjQ4NDYtZTcxYi00MTEzLTg2OTgtMGU2NDZmN2M3OTNlLTExMTE2NjgtMjAyNi0wNS0xMi1lbg==/tiny/Aquestive-Therapeutics-Inc-.png"/></p>

AQST

标普生物技术 ETF - SPDR

医疗业 ETF - SPDR

<p>Aquestive Therapeutics 已与 Oaktree Capital Management 完成了 1.5 亿美元的债务再融资。新的融资将为潜在的 Anaphylm™ 上市提供灵活性，待 FDA 批准。该协议将未来三年内的本金债务偿还从 4500 万美元减少至零，并降低了与之前债务协议相比的利率。Oaktree 的支持强调了其对融资创新药物的承诺。此次再融资预计将推动 Aquestive 的增长，因为它推进其产品管线，包括用于治疗严重过敏反应的 Anaphylm™</p>

<p>WARREN, N.J., May 12, 2026 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST) (“Aquestive” or the “Company”), a pharmaceutical company advancing medicines to bring meaningful improvement to patients' lives through innovative science and delivery technologies, today announced the refinancing of its existing debt facility with a new $150 million debt facility with funds managed by Oaktree Capital Management, L.P. (“Oaktree”).</p>
<div class="lb-trans"><p>新泽西州沃伦，2026 年 5 月 12 日（全球新闻通讯社）—— Aquestive Therapeutics, Inc.（纳斯达克：AQST）（“Aquestive” 或 “公司”）是一家通过创新科学和交付技术推进药物研发，以显著改善患者生活的制药公司，今天宣布与 Oaktree Capital Management, L.P.（“Oaktree”）管理的资金重新融资其现有债务设施，获得新的 1.5 亿美元债务设施。</p>
</div><p>This transaction provides additional flexibility to fund the launch of Anaphylm™, if approved by the FDA. At closing, Oaktree provided $55.0 million, which was primarily used to repay the Company’s existing loan in the aggregate principal amount of $45 million plus fees associated with such repayment. Upon United States Food and Drug Administration (FDA) approval of Anaphylm and satisfaction of other customary conditions, an additional $20.0 million will be available. A third tranche of $25.0 million will be available upon the achievement of specified sales milestones, with the final tranche of up to $50.0 million available with the mutual consent of the lenders and the Company. The Company will pay only interest on the new five-year facility with all principal amounts outstanding due at maturity.</p>
<div class="lb-trans"><p>此次交易为资金启动 Anaphylm™（如果获得 FDA 批准）提供了额外的灵活性。在交易完成时，Oaktree 提供了 5500 万美元，主要用于偿还公司现有的 4500 万美元贷款及相关费用。在美国食品药品监督管理局（FDA）批准 Anaphylm 并满足其他常规条件后，将提供额外的 2000 万美元。第三笔 2500 万美元将在达到特定销售里程碑后提供，最后一笔最多 5000 万美元将在贷款方与公司双方同意的情况下提供。公司将仅支付新五年期设施的利息，所有未偿还的本金将在到期时到期。</p>
</div><p>“We are excited to begin our relationship with Oaktree, a well-established leader within life sciences debt financing,” said Daniel Barber, CEO of Aquestive Therapeutics. “The new $150 million debt facility will help Aquestive drive growth for years to come. With this agreement, we reduce our principal debt repayments over the next three years from $45 million to zero, reduce our interest rate when compared to the previous debt agreement, complete the pre-approval requirements under our strategic funding agreement with RTW Investments, L.P., and unlock additional capital for the potential launch of Anaphylm, if approved by the FDA.”</p>
<div class="lb-trans"><p>“我们很高兴能与 Oaktree 建立合作关系，Oaktree 在生命科学债务融资领域是一家成熟的领导者，” Aquestive Therapeutics 首席执行官 Daniel Barber 表示。“新的 1.5 亿美元债务设施将帮助 Aquestive 在未来几年推动增长。通过这项协议，我们将未来三年内的本金债务偿还从 4500 万美元减少到零，降低与之前债务协议相比的利率，完成与 RTW Investments, L.P.的战略融资协议下的预批准要求，并为 Anaphylm 的潜在推出解锁额外资本（如果获得 FDA 批准）。</p>
</div><p>&#34;We are delighted to be partnering with Aquestive at this exciting stage in the company's development and believe that Anaphylm has the potential to be a truly transformative rescue treatment for patients suffering from severe allergic reactions, including anaphylaxis,” said Rahul Anand, Managing Director, Life Sciences Lending at Oaktree. “This transaction underscores Oaktree’s commitment to provide scalable capital solutions to companies developing novel medicines. We look forward to supporting the Aquestive management team as they work on bringing this important therapy to patients and healthcare providers globally.”</p>
<div class="lb-trans"><p>“我们很高兴在公司发展的这个激动人心的阶段与 Aquestive 合作，并相信 Anaphylm 有潜力成为真正具有变革性的急救治疗，帮助遭受严重过敏反应（包括过敏性休克）的患者，” Oaktree 生命科学贷款董事总经理 Rahul Anand 表示。“此次交易强调了 Oaktree 为开发新型药物的公司提供可扩展资本解决方案的承诺。我们期待支持 Aquestive 管理团队，帮助他们将这一重要疗法带给全球患者和医疗服务提供者。”</p>
</div><p>Oaktree is a leading provider of debt and royalty financing for the global life sciences industry. Since 2020, funds managed by Oaktree have committed more than $6.0 billion across 45 investments for companies across the healthcare spectrum.</p>
<div class="lb-trans"><p>Oaktree 是全球生命科学行业债务和特许权融资的领先提供者。自 2020 年以来，Oaktree 管理的资金已承诺在医疗保健领域进行超过 60 亿美元的 45 项投资。</p>
</div><p>Cantor Fitzgerald acted as the sole placement agent to Aquestive. Dechert LLP acted as counsel to Aquestive and Morgan, Lewis &amp; Bockius LLP served as counsel to Oaktree.</p>
<div class="lb-trans"><p>Cantor Fitzgerald 担任 Aquestive 的唯一配售代理。Dechert LLP 担任 Aquestive 的法律顾问，Morgan, Lewis &amp; Bockius LLP 担任 Oaktree 的法律顾问。</p>
</div><p><strong>About Aquestive Therapeutics</strong> Aquestive is a pharmaceutical company advancing medicines to bring meaningful improvement to patients' lives through innovative science and delivery technologies. The worldwide leader in delivering trusted, quality medications on oral film, Aquestive operates as both a developer of its own proprietary products and a Contract Development and Manufacturing Organization (CDMO) for licensees, with its headquarters in New Jersey and U.S.-based manufacturing facilities in Indiana. The Company is the exclusive manufacturer of four commercialized products marketed by its licensees across six continents using proprietary, best-in-class technologies like PharmFilm®. Aquestive's AdrenaVerse™ platform contains a library of more than 20 epinephrine prodrugs enabling the pursuit of various potential allergy and dermatological indications. The Company is advancing Anaphylm™ (dibutepinephrine) sublingual film for the treatment of severe allergic reactions, including anaphylaxis, and AQST-108 (epinephrine prodrug) topical gel for various potential dermatological conditions, including alopecia areata. For more information, visit Aquestive.com and follow us on LinkedIn.</p>
<div class="lb-trans"><p><strong>关于 Aquestive Therapeutics</strong> Aquestive 是一家通过创新科学和交付技术推进药物研发，以显著改善患者生活的制药公司。作为全球领先的口服薄膜药物交付公司，Aquestive 既是其自有专利产品的开发者，也是合同开发和制造组织（CDMO），总部位于新泽西州，在印第安纳州设有美国制造设施。该公司是四种由其许可方在六大洲市场销售的商业化产品的独家制造商，使用专有的最佳技术，如 PharmFilm®。Aquestive 的 AdrenaVerse™平台包含超过 20 种肾上腺素前药的库，能够追求各种潜在的过敏和皮肤病适应症。该公司正在推进 Anaphylm™（dibutepinephrine）舌下薄膜用于治疗严重过敏反应，包括过敏性休克，以及 AQST-108（肾上腺素前药）外用凝胶用于各种潜在的皮肤病状况，包括斑秃。有关更多信息，请访问 Aquestive.com 并在 LinkedIn 上关注我们。</p>
</div><p><strong>About Anaphylm™ (dibutepinephrine) Sublingual Film</strong> Anaphylm™ (dibutepinephrine) sublingual film is a polymer matrix-based epinephrine prodrug investigational drug product. Anaphylm is similar in size to a postage stamp, weighs less than an ounce, and begins to dissolve on contact. No water or swallowing is required for administration. The primary packaging for Anaphylm is thinner and smaller than an average credit card, can be carried in a pocket, and is designed to withstand weather excursions such as exposure to rain and/or sunlight. The Anaphylm trade name for AQST-109 has been conditionally approved by the FDA. Final approval of the Anaphylm proprietary name is conditioned on FDA approval of the product candidate.</p>
<div class="lb-trans"><p><strong>关于 Anaphylm™（dibutepinephrine）舌下薄膜</strong> Anaphylm™（dibutepinephrine）舌下薄膜是一种基于聚合物基质的肾上腺素前药研究药物。Anaphylm 的大小类似于邮票，重量不到一盎司，接触时开始溶解。给药时无需水或吞咽。Anaphylm 的主要包装比普通信用卡更薄更小，可以放在口袋中，并设计成能够承受天气变化，如雨水和/或阳光的暴露。Anaphylm 的 AQST-109 商标名称已获得 FDA 有条件批准。Anaphylm 专有名称的最终批准取决于 FDA 对该产品候选者的批准。</p>
</div><p><strong>About Oaktree</strong></p>
<div class="lb-trans"><p><strong>关于 Oaktree</strong></p>
</div><p>Oaktree is a leader among global investment managers specializing in alternative investments, with $223 billion in assets under management as of December 31, 2025. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,500 employees and offices in 26 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/</p>
<div class="lb-trans"><p>Oaktree 是全球投资管理领域的领导者，专注于另类投资，截至 2025 年 12 月 31 日管理的资产达到 2230 亿美元。该公司强调在信贷、股权和房地产投资中采取机会主义、价值导向和风险控制的方法。公司拥有超过 1500 名员工，在全球 26 个城市设有办事处。有关更多信息，请访问 Oaktree 的网站 http://www.oaktreecapital.com/</p>
</div><p><strong>Forward-Looking Statement</strong></p>
<div class="lb-trans"><p><strong>前瞻性声明</strong></p>
</div><p>This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the advancement and related timing of our product candidates, including Anaphylm™ (dibutepinephrine) sublingual film and AQST-108 (epinephrine prodrug) topical gel, through clinical development and approval by the U.S. Food and Drug Administration (FDA) for the respective targeted indications; the advancement and related timing of potential international regulatory filings and marketing authorization of Anaphylm outside of the U.S.; and that Anaphylm will be the first and only oral administration of epinephrine, if Anaphylm is approved by the FDA. These forward-looking statements are based on the Company’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks associated with the Company’s development work, including any delays or changes to the timing, cost and success of its product development activities and clinical trials, including relating to Anaphylm and AQST-108, and other risks and uncertainties affecting the Company described in the “Risk Factors” section and in other sections included in its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. Given those uncertainties, you should not place undue reliance on these forward-looking statements, which speak only as of the date made. All subsequent forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by this cautionary statement. The Company assumes no obligation to update forward-looking statements or outlook or guidance after the date of this press release whether as a result of new information, future events or otherwise, except as may be required by applicable law.</p>
<div class="lb-trans"><p>本新闻稿包含根据 1995 年《私人证券诉讼改革法》定义的某些前瞻性陈述。诸如 “相信”、“预期”、“计划”、“期望”、“估计”、“打算”、“可能”、“将” 或这些术语的否定形式，以及类似的表达，旨在识别前瞻性陈述。这些前瞻性陈述包括但不限于关于我们产品候选者的进展及相关时间安排的陈述，包括 Anaphylm™（二丁肾上腺素）舌下膜和 AQST-108（肾上腺素前药）外用凝胶，通过临床开发和美国食品药品监督管理局（FDA）对各自目标适应症的批准；Anaphylm 在美国以外的潜在国际监管申请和市场授权的进展及相关时间安排；以及如果 Anaphylm 获得 FDA 批准，Anaphylm 将是首个也是唯一的肾上腺素口服给药。这些前瞻性陈述基于公司的当前预期和信念，并受到多种风险和不确定性的影响，这些风险和不确定性可能导致实际结果与前瞻性陈述中描述的结果有实质性差异。这些风险和不确定性包括但不限于与公司开发工作相关的风险，包括与 Anaphylm 和 AQST-108 相关的产品开发活动和临床试验的时间、成本和成功的任何延迟或变化，以及在其向美国证券交易委员会提交的《10-K 表格年报》、《10-Q 表格季度报告》和《8-K 表格当前报告》中描述的其他影响公司的风险和不确定性。鉴于这些不确定性，您不应对这些前瞻性陈述过于依赖，这些陈述仅在作出时有效。所有后续归因于公司或其代表的前瞻性陈述均完全受到此警示声明的明确限定。公司没有义务在本新闻稿日期之后更新前瞻性陈述或展望或指引，无论是由于新信息、未来事件还是其他原因，除非适用法律要求。</p>
</div><p>PharmFilm® and the Aquestive logo are registered trademarks of Aquestive Therapeutics, Inc.</p>
<div class="lb-trans"><p>PharmFilm®和 Aquestive 标志是 Aquestive Therapeutics, Inc.的注册商标。</p>
</div><p><strong>Investor Inquiries</strong></p>
<div class="lb-trans"><p><strong>投资者咨询</strong></p>
</div><p>Astr Partners</p>
<div class="lb-trans"><p>Astr Partners</p>
</div><p>Brian Korb</p>
<div class="lb-trans"><p>Brian Korb</p>
</div><p>Brian.korb@astrpartners.com</p>
<div class="lb-trans"><p>Brian.korb@astrpartners.com</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RjeE9ETTRPQ00zTlRrM09UZ3hJekl4TURBd09UYz0" alt="" original-src="https://www.globenewswire.com/newsroom/ti?nf=OTcxODM4OCM3NTk3OTgxIzIxMDAwOTc="/></p>
<p><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/ODViMjQ4NDYtZTcxYi00MTEzLTg2OTgtMGU2NDZmN2M3OTNlLTExMTE2NjgtMjAyNi0wNS0xMi1lbg==/tiny/Aquestive-Therapeutics-Inc-.png" alt="" original-src="https://ml.globenewswire.com/media/ODViMjQ4NDYtZTcxYi00MTEzLTg2OTgtMGU2NDZmN2M3OTNlLTExMTE2NjgtMjAyNi0wNS0xMi1lbg==/tiny/Aquestive-Therapeutics-Inc-.png"/></p>

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