Milestone Pharmaceuticals (NASDAQ:MIST) Issues Quarterly Earnings Results

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) posted its quarterly earnings results on Friday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04, FiscalAI reports. The firm had revenue of $2.96 million for the quarter, compared to analyst estimates of $1.00 million.

Here are the key takeaways from Milestone Pharmaceuticals' conference call:

• CARDAMYST prescriptions rose 50% quarter over quarter to approximately 1,800, while unique prescribers increased to about 750. Commercial formulary coverage reached roughly two-thirds of covered lives, and third-quarter net product revenue grew to $1.0 million from $0.6 million in Q2.
• Milestone expects its cost-efficiency measures—including bringing its 45-person sales team in-house and focusing spending on higher-impact activities—to reduce operating expenses by about 30%. The company expects to complete the changes by Q1 2027, with approximately $2 million in one-time charges.
• Milestone said the cost reductions and an extension of its payment-in-kind interest period are expected to extend its cash runway into late 2028, through the anticipated ReVeRA-301 Phase III readout in the second half of 2028. The trial is enrolling patients in the U.S., Canada, and Europe.
• Third-quarter selling, general, and administrative expense rose to $24.2 million from $7.9 million a year earlier, primarily due to CARDAMYST launch costs; net loss widened to $25.8 million from $11.9 million. Management also noted that prescription growth remains gradual and expects possible seasonal pressure in Q1 as insurance out-of-pocket costs reset.
• Management views emergency-department and ambulance use as potential longer-term opportunities, but said operational hurdles make them a lower priority over the next 12–18 months. Medicare is also not expected to drive near-term prescription growth, with the company favoring selective coverage over broad Part D discounts.

Milestone Pharmaceuticals Stock Performance

MIST traded down $0.12 during trading on Friday, reaching $0.53. The company's stock had a trading volume of 3,048,149 shares, compared to its average volume of 1,744,256. The company has a debt-to-equity ratio of 3.25, a quick ratio of 7.92 and a current ratio of 8.13. The company's fifty day moving average price is $0.82 and its 200-day moving average price is $1.32. Milestone Pharmaceuticals has a 52-week low of $0.50 and a 52-week high of $3.06. The company has a market capitalization of $66.48 million, a price-to-earnings ratio of -0.77 and a beta of 1.07.

Wall Street Analyst Weigh In

MIST has been the subject of several research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Milestone Pharmaceuticals in a report on Monday, October 12th. Cantor Fitzgerald began coverage on shares of Milestone Pharmaceuticals in a report on Thursday, August 20th. They issued an "overweight" rating and a $3.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating on shares of Milestone Pharmaceuticals in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Milestone Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $6.40.

Key Milestone Pharmaceuticals News

Here's some of the latest news about MIST:

• Positive Sentiment: MIST reported a loss of $0.18 per share, narrower than analysts’ expected $0.22 loss. Revenue of $2.96 million also topped the $1 million consensus estimate, including $2 million in license and other revenue. Zacks quarterly results
• Positive Sentiment: CARDAMYST net product revenue was about $1 million, up 73% from Q2. The company reported roughly 3,400 prescriptions since launch and payer coverage across about two-thirds of commercially covered lives, indicating early commercial traction. CARDAMYST and third-quarter update
• Neutral Sentiment: Top-line data from the Phase 3 AFib-RVR trial is expected in the second half of 2028, leaving a lengthy wait for a potential clinical catalyst. Trial and commercial update

About Milestone Pharmaceuticals

Milestone Pharmaceuticals is a biopharmaceutical company focused on developing treatments for cardiovascular conditions. Its work centers on therapies intended to give patients and caregivers options for managing acute heart rhythm episodes outside of a clinical setting. The company's lead product is etripamil, a short-acting calcium channel blocker formulated as a nasal spray. It is designed for self-administration to treat episodes of paroxysmal supraventricular tachycardia, a condition involving sudden episodes of abnormally fast heart rate.

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