For the crystallization of an API in supercritical CO2, a two – step nucleation mechanism involves the apparition of metastable liquid droplets in the vapour phase composed of the API dissolved in the CO2, before crystallization. To find out the pressure and temperature conditions such a two – step mechanism could be observed, we studied the stability / metastability / instability for {(S)-Naproxen + CO2} and {(RS)-Ibuprofen + CO2} vapour binary mixtures. Thermodynamic computations proposed in the paper, have shown that a mixture of API and CO2 at elevated pressures can be unstable and/or metastable with respect to a liquid-vapour equilibrium and at the same time with respect to a solid-vapour equilibrium. Depending on the degree of supersaturation, such a mixture can potentially first decompose via spinodal decomposition into coexisting liquid and vapour phases, which turn due to nucleation and growth theory to a solid-fluid equilibrium.