AQST is trading 12.83% up at $4.66 after reporting Q1 2026 revenue of $14.4 million—a 66% year-over-year increase—and announcing a major $150 million refinancing deal.
- License and royalty revenue surged to $5.4 million from $0.8 million year-over-year, supporting management's reaffirmed full-year 2026 revenue guidance of $46M–$50M.
- Management highlighted de-risked regulatory progress for its Anaphylm product following constructive FDA feedback, with an NDA resubmission planned for the third quarter.
- The combination of improved financial stability through refinancing and strong top-line growth has significantly bolstered investor confidence in the company's turnaround trajectory.