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Milestone Pharmaceuticals Inc
NASDAQ:MIST

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Milestone Pharmaceuticals Inc
NASDAQ:MIST
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Price: 2.2 USD 8.37% Market Closed
Market Cap: $258.9m

Milestone Pharmaceuticals Inc
Investor Relations

Milestone Pharmaceuticals, Inc. engages in the development and commercialization of cardiovascular medicines. The company is headquartered in Montreal, Quebec and currently employs 29 full-time employees. The company went IPO on 2019-05-09. The firm is focused on the development and commercialization of cardiovascular medicines. Milestone’s lead product candidate is etripamil. The etripamil is a novel, potent and short-acting calcium channel blocker that has been designed rapid-onset nasal spray, which is self-administered by patients. The firm is developing etripamil to treat paroxysmal supraventricular tachycardia (PSVT), atrial fibrillation (AF) and rapid ventricular rate, and other cardiovascular indications.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 20, 2026
AI Summary
Q4 2025

Approval: CARDAMYST (etripamil nasal spray) received FDA approval for conversion of PSVT to normal sinus rhythm in adults; product began retail distribution in late January and promotional launch in mid-February.

Launch early read: Sales force of ~60 reps targeting ~10,000 providers; in the first month of promotion there were over 150 prescriptions filled from more than 100 unique prescribers, mostly new patient starts.

Coverage & access: No broad contracted coverage yet; reimbursement requires prior authorizations/medical exceptions in many cases, but Milestone has patient assistance, co-pay support and reimbursement services active to help fill scripts.

Finances & runway: Reported pro forma cash of approximately $200 million (Dec 31, 2025 cash $106M plus January 2026 RTW royalty sale and subsequent financings); company expects operating runway into late 2027.

Commercial expectations: Management expects meaningful coverage and prescription growth over the course of 2026 with more material progress in the back half of the year; Medicare contracting expected to take longer (guidance toward 2027).

Key Financials
Revenue
$1.5 million
R&D expense
$5.5 million (Q4 2025); $18.1 million (full year 2025)
G&A expense
$5.1 million (Q4 2025); $17.3 million (full year 2025)
Commercial expense
$8.2 million (Q4 2025); $28.3 million (full year 2025)
Net loss
$17.4 million (Q4 2025); $63.1 million (full year 2025)
Net loss per share
$0.16 per share (Q4 2025); $0.75 per share (full year 2025)
Cash, cash equivalents and short-term investments
$106 million (as of Dec 31, 2025)
RTW royalty sale proceeds
$75 million
At-the-market proceeds
$10.9 million (net)
Warrant exercise proceeds
$8 million (net)
Sales force size
Approximately 60 representatives
Early prescription activity
Over 150 prescriptions filled by >100 unique prescribers in the first month of promotion
EMA review timeline
MAA accepted; decision expected in first half of 2027
Other Earnings Calls
2025

Management

Mr. Joseph G. Oliveto M.B.A.
CEO, President & Director
No Bio Available
Mr. Amit Hasija
CFO & Executive VP of Corporate Development
No Bio Available
Dr. David B. Bharucha FACC, M.D., Ph.D.
Chief Medical Officer
No Bio Available
Dr. Philippe Douville M.B.A., Ph.D.
Founder, Strategic Advisor & Member of Scientific Advisory Board
No Bio Available
Mr. Jeffrey Nelson
Chief Operating Officer
No Bio Available
Ms. Kim Fox
Vice President of Communications
No Bio Available
Dr. Philip T. Sager FACC, FAHA, FHRS, M.D.
Chief Medical Advisor & Member of the Scientific Advisory Board
No Bio Available
Dr. Guy Rousseau
SVP of Regulatory Affairs and Quality Management
No Bio Available
Mr. Lorenz Muller
Chief Commercial Officer
No Bio Available
Ms. Anita Holz
VP & Head of Medical Affairs
No Bio Available

Contacts

Address
QUEBEC
MONTREAL
420-1111 boul. Dr.-Frederik-Philips
Contacts
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