Khanh V

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera Generic EpiPen (2pk_- Retail Price $280-$360; Coupon/Cash $109-$176
Neffy (2pk -Retail $880-$918; Coupon/Cash $199-$399
This is the reason why they are not winning. Anaph can be priced more competitively to generic?
Good luck to you on both.

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera I do appreciate your perspective. From my pov, while you might know more than I do, you are too close to the source (inside of the box). A better price, a superior product, portability, strong margins, capable mgmt, and a massive 'white space' have to equate to something.

[Khanh V @traderQuach9]

@Dansfera no more "rebate game".

[Khanh V @traderQuach9]

@Dansfera Are you telling me that Anaphylm is a 100% guaranteed approval this time? The rebate game: short-term pain equals long-term gain. The 2026 CAA bill will be enforced by Jan 2029 and there will be not "rebate game".

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera We will see. You're placing you $ on SPRY and I'm placing my $ on AQST.

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera Wow, I guess we don't see eye to eye. I believe there are two distinct groups of patients here: one focused on finding a life-saving(LS) drug that costs the least, and another focused on a LS drug that they will always have access to. Anaphylm will do incredibly well in both.

[Khanh V @traderQuach9]

@Dansfera @SmallCapKing2 What about the 27 million patients-who currently sit in the 'white space'? We don't have to look only inside the box. A superior prod that is much cheaper to produce, a better strategic roadmap, and the benefit of lessons learned fr Neffy, why can't they execute a better launch?

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera Yes, I agree that it won't be overnight. However, just look at the GLP-1 market. Wegovy launched in 2021 and captured the top spot for Novo. Mounjaro and Zepbound launched in 2022 and 2023 respectively, overtaking the majority market share of GLP-1 in 2025–2026.

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera If Anaphylm is more attractive—with the fastest absorption, highest portability, and no device—while also offering the lowest price for patients and highest profitability for PBMs, why can't they gain market volume? I am confused.

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera I disagree. This is not just a 'me-too' epinephrine drug. Once approved, it will be the only non-device on the market. As you stated, PBM profits are the key. B/c of this, AQST can offer higher rebates to PBMs and still maintain better profit margins than Neffy or the generics.

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera If we assume that the only thing that matters to insurance and PBMs is profitability, then AQST could match Neffy's list price but offer a significantly higher rebate to PBMs. This would secure them preferred Tier 2 formulary status and allow them to leapfrog Neffy completely.

[Khanh V @traderQuach9]

@SmallCapKing2 @Dansfera Agree that they will start at square one, but they will have deeper pockets to offer PBMs better rebates, or they can drop the list/cash price by $50 to secure that Tier 2 slot. Ultimately, they have more strategic options to play with than ARS.

[Khanh V @traderQuach9]

@Dansfera @SmallCapKing2 Neffy cutting ads because every $3 spent=$1 revenue. People don't watch traditional ads anymore. Money down the drain. AQST is learning from this mistake and and is positioned to capture market share much more efficiently. Real moat = portable/discreet and price.

[Khanh V @traderQuach9]

@Dansfera It sounds like you are turning bearish on AQST. Do you not think Anaphylm can undercut the price of both Neffy and generic EpiPen to capture payer coverage and market share? Don't forget about the CAA 2026 law, which requires PBMs to pass 100% of rebates to ins comp and employers

[Khanh V @traderQuach9]

@Biotech2k1 Can you look at @AQST? Market changer once Anaphylm is approved?

[Khanh V @traderQuach9]

@gone1324 $AQST - Pending approval from FDA. CRL in Jan due to packaging and user error. This is an easy fix. The company is working toward resubmitting its New Drug Application (NDA) for Anaphylm™ (sublingual epinephrine film) in Q3 2026. IMO, it will be $9 by YE.

[Khanh V @traderQuach9]

@Biotech2k1 Yes please. Thank you for sharing.

[Khanh V @traderQuach9]

@InternetH0F Great block for the win. I don't see any yellow flags.