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  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">As filed with the Securities and Exchange Commission
  on January 7, 2022</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Registration No. 333-_______</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES AND
  EXCHANGE COMMISSION</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Washington, DC
  20549</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM S-8</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 24pt"><B>Aquestive Therapeutics,
  Inc.</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in its charter)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR>
      <TD STYLE="vertical-align: bottom; width: 34%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
      <TD STYLE="vertical-align: top; width: 33%">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>30 Technology Drive</B></P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Warren, NJ 07059</B></P></TD>
      <TD STYLE="vertical-align: bottom; width: 33%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>82-3827296</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="font-size: 10pt; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of</FONT></P>
                                                      <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Incorporation or Organization)</FONT></P></TD>
      <TD>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Zip Code)</P></TD>
      <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(</B>I.R.S. Employer Identification No.)</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aquestive Therapeutics, Inc. 2018 Equity Incentive
  Plan</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full title of the plan)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A. Ernest Toth, Jr.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chief Financial Officer</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aquestive Therapeutics, Inc.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>30 Technology Drive</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Warren, NJ 07059</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name and address of agent for service)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(908) 941-1900</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Telephone number, including area code, of agent
  for service)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Copies of all communications to<B>:</B></I></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">Ellen S. Knarr, Esq.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">Day Pitney LLP</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">605 Third Avenue</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">31<SUP>st</SUP> Floor</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">New York, NY 10158</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">(212) 297-5800</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Indicate by check mark
  whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an
  emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller
  reporting company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 46%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></FONT></TD>
      <TD STYLE="width: 54%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&yacute;</FONT></FONT></TD>
      <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Smaller reporting company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&yacute;</FONT></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="font-size: 10pt">&nbsp;</TD>
      <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&yacute;</FONT></FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate by check
  mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
  standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Wingdings">o</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 26%; border-top: black 1.5pt double; border-bottom: Black 1pt solid; border-left: black 1.5pt double">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Title of Securities to be</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registered</P></TD>
      <TD STYLE="width: 17%; border-top: black 1.5pt double; border-bottom: Black 1pt solid">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Amount to be</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registered<SUP>(1)</SUP></P></TD>
      <TD STYLE="width: 20%; border-top: black 1.5pt double; border-bottom: Black 1pt solid">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proposed Maximum</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Offering Price Per</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Share</P></TD>
      <TD STYLE="width: 23%; border-top: black 1.5pt double; border-bottom: Black 1pt solid">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proposed Maximum</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Aggregate Offering</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Price</P></TD>
      <TD STYLE="width: 14%; border-top: black 1.5pt double; border-right: black 1.5pt double; border-bottom: Black 1pt solid">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Amount of</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registration</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Fee</P></TD></TR>
    <TR>
      <TD STYLE="border-bottom: black 1.5pt double; border-left: black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Common Stock, par value $0.001 per share</FONT></TD>
      <TD STYLE="border-bottom: black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">1,235,399<SUP>(2)</SUP></FONT></TD>
      <TD STYLE="border-bottom: black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">$4.05<SUP>(2)</SUP></FONT></TD>
      <TD STYLE="border-bottom: black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">$5,003,365.95</FONT></TD>
      <TD STYLE="border-right: black 1.5pt double; border-bottom: black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">$463.82</FONT></TD></TR>
    </TABLE>
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 0.2in">&nbsp;</TD></TR>
                                                                                                                                            <TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.35in">(1)</TD><TD STYLE="text-align: justify; padding-right: 0.2in">The number of shares of common stock, par value $0.001 per share (the &ldquo;Common
  Stock&rdquo;), of Aquestive Therapeutics, Inc., a Delaware corporation (the &ldquo;Registrant&rdquo;), available for issuance under the
  Aquestive Therapeutics, Inc. 2018 Equity Incentive Plan (the &ldquo;2018 Plan&rdquo;) is subject to an automatic annual increase on the
  first day of each fiscal year prior to the termination of the 2018 Plan, with such annual increase equal to (i) 4.0% of the number of
  shares of Common Stock outstanding on December 31<SUP>st</SUP> of the immediately preceding calendar year or (ii) such lesser amount determined
  by the Board of Directors of the Registrant (the &ldquo;Board&rdquo;) in its discretion (the &ldquo;Evergreen Provision&rdquo;). Pursuant
  to the Evergreen Provision, the number of shares of Common Stock available for issuance under the 2018 Plan was automatically increased
  by 1,235,399 shares effective January 1, 2022, which is 3.0% of the total number of shares of Common Stock outstanding as of December
  31, 2021. This registration statement (this &ldquo;Registration Statement&rdquo;) registers these 1,235,399 additional shares of Common
  Stock for issuance under the 2018 Plan. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
  this Registration Statement also covers such additional shares of Common Stock as may be issued in the event of a stock dividend, stock
  split, recapitalization or other similar transaction.</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.35in">(2)</TD><TD STYLE="text-align: justify; padding-right: 0.2in">Shares of Common Stock newly reserved under the 2018 Plan. Pursuant to Rules 457(c)
  and 457(h) under the Securities Act, the proposed maximum offering price per share was calculated on the basis of the average of the high
  and low prices per share of the Common Stock as reported on the Nasdaq Global Market on January 3, 2022.</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <P STYLE="margin-top: 0; margin-bottom: 0"></P>
  
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  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;This Registration Statement is being filed
  by the Registrant for the purpose of registering an additional 1,235,399 shares of Common Stock available for issuance under the 2018
  Plan. The Registrant previously filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) registration statements
  on Form S-8 on July 27, 2018 (SEC File No. 333-226399) and on January 8, 2021 (SEC File No. 333-251984) (collectively, the &ldquo;Prior
  Registration Statements&rdquo;) registering shares of Common Stock issuable under the 2018 Plan. This Registration Statement relates to
  securities of the same class as those to which the Prior Registration Statements relate and is submitted in accordance with General Instruction
  E of Form S-8 regarding Registration of Additional Securities. Pursuant to General Instruction E of Form S-8, the contents of the Prior
  Registration Statements are incorporated herein by reference and made part of this Registration Statement, except for Items 3 and 8, which
  are being updated by this Registration Statement below. &#9;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><B>INFORMATION REQUIRED
  IN THE REGISTRATION STATEMENT</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>
  
  <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Item 3. Incorporation of Documents by Reference.</P>
  
  <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following documents, as
  originally filed with the Commission by the Registrant, are incorporated herein by reference; provided, however, that any reports or portions
  thereof that are furnished, including under Item 2.02 or Item 7.01 of a Current Report on Form 8-K and any exhibits included with such
  items, shall not be deemed incorporated by reference in this Registration Statement:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with
  the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), on March 9, 2021;</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with
  the Commission on May 4, 2021;</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the
  Commission on August 3, 2021;</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with
  the Commission on November 2, 2021;</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Current Reports on Form 8-K, filed with the Commission on January 7, 2021, January
  21, 2021, February 9, 2021, February 25, 2021, March 25, 2021, March 26, 2021, June 21, 2021, June 24, 2021, July 21, 2021, July 30, 2021,
  August 9, 2021, October 6, 2021, October 8, 2021, October 25, 2021, December 16, 2021, and December 21, 2021; and</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(f)</FONT></TD><TD STYLE="text-align: justify">The description of the Common Stock contained in the Registrant&rsquo;s Registration Statement on Form
  8-A (SEC File No. 001-38599) filed with the Commission on July 20, 2018, pursuant to Section 12(b) of the Exchange Act, including any
  amendments or reports filed for the purpose of updating such description.</TD></TR></TABLE>
  
  <P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All documents subsequently
  filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment
  to this Registration Statement that indicates that all securities offered have been sold or which deregisters all securities then remaining
  unsold, shall be deemed to be incorporated herein by reference from the date of filing of such documents; provided, however, that any
  reports or portions thereof that are furnished, including under Item 2.02 or Item 7.01 of a Current Report on Form 8-K and any exhibits
  included with such items, shall not be deemed incorporated by reference in this Registration Statement. Any statement contained herein
  or in a document incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for all purposes
  to the extent that a statement contained in this Registration Statement or in any other subsequently filed document which is incorporated
  by reference herein modifies or replaces such statement. Any such statement so modified or superseded shall not be deemed, except as so
  modified or amended, to constitute a part of this Registration Statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>
  
  <!-- Field: Page; Sequence: 3 -->
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      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>
  
  <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Item 8. Exhibits.</P>
  
  <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 19%; text-align: justify; font-weight: bold"><U>Exhibit Number</U></TD>
      <TD STYLE="width: 81%; text-align: justify; font-weight: bold"><U>Description of Exhibit</U></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">4.1</FONT></TD>
      <TD STYLE="text-align: justify; font-weight: bold"><A HREF="https://www.sec.gov/Archives/edgar/data/1398733/000114036118032464/s002128x7_ex10-14.htm"><FONT STYLE="font-weight: normal">Aquestive Therapeutics, Inc. 2018 Equity Incentive Plan (filed as Exhibit 10.14 to the Pre-Effective Amendment No. 1, as filed on July 16, 2018, to the Registration Statement on Form S-1 of the Registrant (SEC File No. 333-225924) and incorporated by reference herein).</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">5.1</FONT></TD>
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal"><A HREF="ex5_1.htm" STYLE="-sec-extract: exhibit">Opinion of Day Pitney LLP, filed herewith.</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">23.1</FONT></TD>
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal"><A HREF="ex23_1.htm" STYLE="-sec-extract: exhibit">Consent of KPMG LLP, filed herewith.</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">23.2</FONT></TD>
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal"><A HREF="ex5_1.htm" STYLE="-sec-extract: exhibit">Consent of Day Pitney LLP, filed herewith (included in Exhibit 5.1).</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">24.1</FONT></TD>
      <TD STYLE="text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal"><A HREF="#poa">Powers of Attorney, filed herewith (included on the signature page of this Registration Statement under the caption &ldquo;Power of Attorney&rdquo;).</A></FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>
  
  <!-- Field: Page; Sequence: 4 -->
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      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 8pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR></TABLE></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><B>SIGNATURES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
  of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
  requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in the County of Somerset, State of New Jersey, on this 7th day of January, 2022.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">AQUESTIVE THERAPEUTICS, INC.</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="2">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 45%">&nbsp;</TD>
      <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
      <TD STYLE="padding-left: 9pt; width: 50%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Keith J. Kendall</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
      <TD STYLE="padding-left: 9pt; text-align: justify"><FONT STYLE="font-size: 10pt">Keith J. Kendall</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
      <TD STYLE="padding-left: 9pt; text-align: justify"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-transform: uppercase; text-align: left"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-transform: uppercase; text-align: left"><B></B></P>
  
  <!-- Field: Page; Sequence: 5 -->
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      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 8pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR></TABLE></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-transform: uppercase; text-align: left"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><B><A NAME="poa"></A>POWER OF ATTORNEY</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">KNOW TO ALL PERSONS BY THESE
  PRESENTS, that each person whose signature appears below constitutes and appoints Keith J. Kendall, A. Ernest Toth, Jr. and Lori J. Braender,
  and each or any one of them, as such person&rsquo;s true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution,
  for such person and in such person&rsquo;s name, place and stead, in any and all capacities, to sign any and all amendments (including
  post-effective amendments) to this Registration Statement and to file the same, with all exhibits thereto, with the Commission, granting
  unto such attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite
  and necessary in connection with such matters and hereby ratifying and confirming all that each such attorney-in-fact, or his agent or
  substitutes, may do or cause to be done by virtue hereof.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
  of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and
  on the dates indicated:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
      <TD STYLE="width: 36%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
      <TD STYLE="width: 31%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Keith J. Kendall</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Keith J. Kendall</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">President, Chief Executive Officer and Member of the Board of Directors<BR>
  (Principal Executive Officer)</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ A. Ernest Toth, Jr.</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">A. Ernest Toth, Jr.</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chief Financial Officer <BR>
  (Principal Financial Officer and Principal Accounting Officer)</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Santo J. Costa</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Santo J. Costa</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chairman of the Board of Directors</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Gregory B. Brown, M.D.</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Gregory B. Brown, M.D.</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Member of the Board of Directors</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ John Cochran</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">John Cochran</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Member of the Board of Directors</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Julie Krop, M.D.</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Julie Krop, M.D.</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Member of the Board of Directors</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Nancy S. Lurker</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Nancy S. Lurker</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Member of the Board of Directors</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ James S. Scibetta</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">James S. Scibetta</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Member of the Board of Directors</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR>
      <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Marco Taglietti, M.D.</FONT></TD>
      <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 7, 2022</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Marco Taglietti, M.D.</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Member of the Board of Directors</FONT></TD>
      <TD>&nbsp;</TD></TR>
    </TABLE>
  
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metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "j16223s8.htm", "secsgml_size_bytes": 43858}]
metadata_filer: {"company-data": {"conformed-name": "Aquestive Therapeutics, Inc.", "cik": "0001398733", "assigned-sic": "2834", "irs-number": "208623253", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-262051", "film-number": "22518323"}, "business-address": {"street1": "30 TECHNOLOGY DRIVE", "city": "WARREN", "state": "NJ", "zip": "07059", "phone": "908-941-1900"}, "mail-address": {"street1": "30 TECHNOLOGY DRIVE", "city": "WARREN", "state": "NJ", "zip": "07059"}, "former-company": {"former-conformed-name": "MonoSol Rx, Inc.", "date-changed": "20070507"}}
text: As filed with the Securities and Exchange Commission
  on January 7, 2022
  Registration No. 333-_______
  UNITED STATES
  SECURITIES AND
  EXCHANGE COMMISSION
  Washington, DC
  20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER
  THE SECURITIES ACT OF 1933
  Aquestive Therapeutics,
  Inc.
  (Exact name of registrant as specified in its charter)
  Delaware
  30 Technology Drive
  Warren, NJ 07059
  82-3827296
  (State or Other Jurisdiction of
  Incorporation or Organization)
  (Address of Principal Executive Offices)
  (Zip Code)
  (
  I.R.S. Employer Identification No.)
  Aquestive Therapeutics, Inc. 2018 Equity Incentive
  Plan
  (Full title of the plan)
  A. Ernest Toth, Jr.
  Chief Financial Officer
  Aquestive Therapeutics, Inc.
  30 Technology Drive
  Warren, NJ 07059
  (Name and address of agent for service)
  (908) 941-1900
  (Telephone number, including area code, of agent
  for service)
  Copies of all communications to
  :
  Ellen S. Knarr, Esq.
  Day Pitney LLP
  605 Third Avenue
  31
  st
  Floor
  New York, NY 10158
  (212) 297-5800
  Indicate by check mark
  whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an
  emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller
  reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
  Large accelerated filer
  o
  Accelerated filer
  o
  Non-accelerated filer
  ý
  Smaller reporting company
  ý
  Emerging growth company
  ý
  If an emerging growth company, indicate by check
  mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
  standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
  o
  CALCULATION OF REGISTRATION FEE
  Title of Securities to be
  Registered
  Amount to be
  Registered
  (1)
  Proposed Maximum
  Offering Price Per
  Share
  Proposed Maximum
  Aggregate Offering
  Price
  Amount of
  Registration
  Fee
  Common Stock, par value $0.001 per share
  1,235,399
  (2)
  $4.05
  (2)
  $5,003,365.95
  $463.82
  (1)
  The number of shares of common stock, par value $0.001 per share (the "Common
  Stock"), of Aquestive Therapeutics, Inc., a Delaware corporation (the "Registrant"), available for issuance under the
  Aquestive Therapeutics, Inc. 2018 Equity Incentive Plan (the "2018 Plan") is subject to an automatic annual increase on the
  first day of each fiscal year prior to the termination of the 2018 Plan, with such annual increase equal to (i) 4.0% of the number of
  shares of Common Stock outstanding on December 31
  st
  of the immediately preceding calendar year or (ii) such lesser amount determined
  by the Board of Directors of the Registrant (the "Board") in its discretion (the "Evergreen Provision"). Pursuant
  to the Evergreen Provision, the number of shares of Common Stock available for issuance under the 2018 Plan was automatically increased
  by 1,235,399 shares effective January 1, 2022, which is 3.0% of the total number of shares of Common Stock outstanding as of December
  31, 2021. This registration statement (this "Registration Statement") registers these 1,235,399 additional shares of Common
  Stock for issuance under the 2018 Plan. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"),
  this Registration Statement also covers such additional shares of Common Stock as may be issued in the event of a stock dividend, stock
  split, recapitalization or other similar transaction.
  (2)
  Shares of Common Stock newly reserved under the 2018 Plan. Pursuant to Rules 457(c)
  and 457(h) under the Securities Act, the proposed maximum offering price per share was calculated on the basis of the average of the high
  and low prices per share of the Common Stock as reported on the Nasdaq Global Market on January 3, 2022.
  EXPLANATORY NOTE
  This Registration Statement is being filed
  by the Registrant for the purpose of registering an additional 1,235,399 shares of Common Stock available for issuance under the 2018
  Plan. The Registrant previously filed with the Securities and Exchange Commission (the "Commission") registration statements
  on Form S-8 on July 27, 2018 (SEC File No. 333-226399) and on January 8, 2021 (SEC File No. 333-251984) (collectively, the "Prior
  Registration Statements") registering shares of Common Stock issuable under the 2018 Plan. This Registration Statement relates to
  securities of the same class as those to which the Prior Registration Statements relate and is submitted in accordance with General Instruction
  E of Form S-8 regarding Registration of Additional Securities. Pursuant to General Instruction E of Form S-8, the contents of the Prior
  Registration Statements are incorporated herein by reference and made part of this Registration Statement, except for Items 3 and 8, which
  are being updated by this Registration Statement below.
  PART II
  INFORMATION REQUIRED
  IN THE REGISTRATION STATEMENT
  Item 3. Incorporation of Documents by Reference.
  The following documents, as
  originally filed with the Commission by the Registrant, are incorporated herein by reference; provided, however, that any reports or portions
  thereof that are furnished, including under Item 2.02 or Item 7.01 of a Current Report on Form 8-K and any exhibits included with such
  items, shall not be deemed incorporated by reference in this Registration Statement:
  (a)
  The Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with
  the Commission pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on March 9, 2021;
  (b)
  The Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with
  the Commission on May 4, 2021;
  (c)
  The Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the
  Commission on August 3, 2021;
  (d)
  The Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with
  the Commission on November 2, 2021;
  (e)
  The Registrant's Current Reports on Form 8-K, filed with the Commission on January 7, 2021, January
  21, 2021, February 9, 2021, February 25, 2021, March 25, 2021, March 26, 2021, June 21, 2021, June 24, 2021, July 21, 2021, July 30, 2021,
  August 9, 2021, October 6, 2021, October 8, 2021, October 25, 2021, December 16, 2021, and December 21, 2021; and
  (f)
  The description of the Common Stock contained in the Registrant's Registration Statement on Form
  8-A (SEC File No. 001-38599) filed with the Commission on July 20, 2018, pursuant to Section 12(b) of the Exchange Act, including any
  amendments or reports filed for the purpose of updating such description.
  All documents subsequently
  filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment
  to this Registration Statement that indicates that all securities offered have been sold or which deregisters all securities then remaining
  unsold, shall be deemed to be incorporated herein by reference from the date of filing of such documents; provided, however, that any
  reports or portions thereof that are furnished, including under Item 2.02 or Item 7.01 of a Current Report on Form 8-K and any exhibits
  included with such items, shall not be deemed incorporated by reference in this Registration Statement. Any statement contained herein
  or in a document incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for all purposes
  to the extent that a statement contained in this Registration Statement or in any other subsequently filed document which is incorporated
  by reference herein modifies or replaces such statement. Any such statement so modified or superseded shall not be deemed, except as so
  modified or amended, to constitute a part of this Registration Statement.
  Item 8. Exhibits.
  Exhibit Number
  Description of Exhibit
  4.1
  Aquestive Therapeutics, Inc. 2018 Equity Incentive Plan (filed as Exhibit 10.14 to the Pre-Effective Amendment No. 1, as filed on July 16, 2018, to the Registration Statement on Form S-1 of the Registrant (SEC File No. 333-225924) and incorporated by reference herein).
  5.1
  Opinion of Day Pitney LLP, filed herewith.
  23.1
  Consent of KPMG LLP, filed herewith.
  23.2
  Consent of Day Pitney LLP, filed herewith (included in Exhibit 5.1).
  24.1
  Powers of Attorney, filed herewith (included on the signature page of this Registration Statement under the caption "Power of Attorney").
  SIGNATURES
  Pursuant to the requirements
  of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
  requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in the County of Somerset, State of New Jersey, on this 7th day of January, 2022.
  AQUESTIVE THERAPEUTICS, INC.
  By:
  /s/ Keith J. Kendall
  Name:
  Keith J. Kendall
  Title:
  President and Chief Executive Officer
  POWER OF ATTORNEY
  KNOW TO ALL PERSONS BY THESE
  PRESENTS, that each person whose signature appears below constitutes and appoints Keith J. Kendall, A. Ernest Toth, Jr. and Lori J. Braender,
  and each or any one of them, as such person's true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution,
  for such person and in such person's name, place and stead, in any and all capacities, to sign any and all amendments (including
  post-effective amendments) to this Registration Statement and to file the same, with all exhibits thereto, with the Commission, granting
  unto such attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite
  and necessary in connection with such matters and hereby ratifying and confirming all that each such attorney-in-fact, or his agent or
  substitutes, may do or cause to be done by virtue hereof.
  Pursuant to the requirements
  of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and
  on the dates indicated:
  Signature
  Title
  Date
  /s/ Keith J. Kendall
  January 7, 2022
  Keith J. Kendall
  President, Chief Executive Officer and Member of the Board of Directors
  (Principal Executive Officer)
  /s/ A. Ernest Toth, Jr.
  January 7, 2022
  A. Ernest Toth, Jr.
  Chief Financial Officer
  (Principal Financial Officer and Principal Accounting Officer)
  /s/ Santo J. Costa
  January 7, 2022
  Santo J. Costa
  Chairman of the Board of Directors
  /s/ Gregory B. Brown, M.D.
  January 7, 2022
  Gregory B. Brown, M.D.
  Member of the Board of Directors
  /s/ John Cochran
  January 7, 2022
  John Cochran
  Member of the Board of Directors
  /s/ Julie Krop, M.D.
  January 7, 2022
  Julie Krop, M.D.
  Member of the Board of Directors
  /s/ Nancy S. Lurker
  January 7, 2022
  Nancy S. Lurker
  Member of the Board of Directors
  /s/ James S. Scibetta
  January 7, 2022
  James S. Scibetta
  Member of the Board of Directors
  /s/ Marco Taglietti, M.D.
  January 7, 2022
  Marco Taglietti, M.D.
  Member of the Board of Directors