WARREN, N.J., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST), a pharmaceutical company focused on developing and commercializing differentiated products that address patients’ unmet needs and solve therapeutic problems, today announced that John Maxwell, Senior Vice President, Chief Financial Officer (CFO) of the Company, has provided his intent to resign his positions with the Company to pursue other interests. Current plans call for Mr. Maxwell to continue to serve as CFO of the Company until his departure, which currently is anticipated at year end. Mr. Ernie Toth, a seasoned financial executive most recently with EHE Health as Chief Financial Officer, will assume the role of CFO on an interim basis upon Mr. Maxwell’s departure.
“We have made meaningful progress in our business since John joined the Company in January 2017,” said Keith J. Kendall, President and Chief Executive Officer of Aquestive. “John has been a valuable part of the continued development of the Company. We thank him for his contributions, especially in shepherding our efforts to become a public company and close several critical capital markets transactions. The management team and board of directors of Aquestive joins me in wishing him well in his future business pursuits. We anticipate effecting a very smooth transition over the next few weeks and are pleased to welcome Mr. Toth as the new interim CFO to our team,” concluded Mr. Kendall.
“I have enjoyed my time with Aquestive Therapeutics,” said Mr. Maxwell. “Upon arrival, my immediate objective was to help evolve the capitalization of the Company. Aquestive was in the midst of its transformation into a commercial proprietary pharmaceutical company. Having accomplished this critical goal, I believe the Company is well positioned for future growth and I believe in the strength of the Aquestive business. I wish the team all the best for its continued success.”
The Company also reported that Mr. Maxwell’s departure is not related to the Company’s operations, financial reporting or controls.
2020 Outlook
The Company also announced that there is no change to its full year 2020 financial outlook.
About Aquestive Therapeutics
Aquestive Therapeutics is a pharmaceutical company that applies innovative technology to solve therapeutic problems and improve medicines for patients. The Company has commercialized one internally-developed proprietary product to date, Sympazan, has a commercial proprietary product pipeline focused on the treatment of diseases of the central nervous system, or CNS, and other unmet needs, and is developing orally administered complex molecules to provide alternatives to invasively administered standard of care therapies. The Company also collaborates with other pharmaceutical companies to bring new molecules to market using proprietary, best-in-class technologies, like PharmFilm®, and has proven capabilities for drug development and commercialization.
