Milestone Pharmaceuticals (NASDAQ:MIST) Issues Earnings Results

Key Points

• Milestone Pharmaceuticals missed both earnings and revenue estimates in its latest quarter, posting an EPS loss of $0.20 versus a $0.19 estimate and revenue of just $0.24 million against expectations of $30.12 million.
• CARDEMYST is seeing early launch momentum, with about 600 prescriptions by the end of April and Express Scripts adding the drug to its national commercial formulary, giving it access to roughly 25% of commercially insured lives.
• The company has a solid cash position of about $184 million, which management says should fund launch efforts and the ReVeRA-301 Phase III trial into the second half of 2027 despite a first-quarter net loss of about $26.1 million.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) released its earnings results on Wednesday. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.39), FiscalAI reports. The business had revenue of $0.24 million for the quarter, compared to analysts' expectations of $30.12 million.

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

• CARDEMYST launch is off to an early start with steady prescription growth, reaching about 600 total prescriptions by the end of April and over 400 unique HCP writers for roughly 560 patients. Management said the pace is increasing month over month, with April scripts roughly matching the prior two months combined.
• Express Scripts added CARDEMYST to its national commercial formulary, which management said gives the drug coverage access to about 25% of commercially insured lives. The company views this as an early validation of the product’s clinical and economic value and expects more payer wins ahead.
• Physician reception appears broad and encouraging, with early prescriptions coming from cardiology, electrophysiology, and advanced practice providers. Management highlighted that many scripts were written after only one or two sales interactions, which they see as a sign the value proposition is resonating.
• Milestone initiated its Phase III ReVeRA-301 trial in AFib with rapid ventricular rate and expects to enroll the first patient in the second half of 2026. The company said the study is built on positive Phase II data and uses a similar self-administration approach to its PSVT program.
• The balance sheet is strong, with about $184 million in cash and investments as of March 31, 2026, enough to fund launch activities and the ReVeRA-301 study into the second half of 2027. First-quarter net loss was about $26.1 million, driven in part by higher commercial spending tied to the launch.

Milestone Pharmaceuticals Stock Performance

Shares of NASDAQ MIST traded down $0.21 during midday trading on Wednesday, hitting $1.69. 4,917,857 shares of the company's stock were exchanged, compared to its average volume of 2,240,192. Milestone Pharmaceuticals has a twelve month low of $1.00 and a twelve month high of $3.06. The firm has a market cap of $202.43 million, a P/E ratio of -2.14 and a beta of 1.04. The stock's 50 day moving average price is $1.70 and its 200-day moving average price is $1.93. The company has a debt-to-equity ratio of 1.37, a current ratio of 8.01 and a quick ratio of 7.96.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MIST shares. Wall Street Zen upgraded shares of Milestone Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday. Raymond James Financial started coverage on shares of Milestone Pharmaceuticals in a research note on Friday, April 10th. They set a "strong-buy" rating and a $6.00 price objective on the stock. Finally, Zacks Research lowered shares of Milestone Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $7.50.

Insiders Place Their Bets

In other Milestone Pharmaceuticals news, CEO Joseph Oliveto sold 36,500 shares of the business's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $2.26, for a total transaction of $82,490.00. Following the completion of the transaction, the chief executive officer owned 446,244 shares in the company, valued at approximately $1,008,511.44. The trade was a 7.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Milestone Pharmaceuticals by 200,550.0% in the third quarter. Bank of America Corp DE now owns 16,052 shares of the company's stock worth $32,000 after purchasing an additional 16,044 shares during the period. Cetera Investment Advisers bought a new stake in shares of Milestone Pharmaceuticals during the 4th quarter worth about $42,000. Invesco Ltd. acquired a new stake in shares of Milestone Pharmaceuticals in the 4th quarter worth approximately $44,000. Creative Planning boosted its holdings in shares of Milestone Pharmaceuticals by 74.6% in the second quarter. Creative Planning now owns 23,410 shares of the company's stock valued at $45,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Milestone Pharmaceuticals by 30.1% during the second quarter. Raymond James Financial Inc. now owns 43,235 shares of the company's stock valued at $84,000 after acquiring an additional 10,000 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for respiratory diseases. The company's research emphasizes both biologic and small-molecule approaches designed to improve mucociliary clearance, reduce airway inflammation and address chronic and refractory cough. Milestone's pipeline targets key underserved conditions such as cystic fibrosis, primary ciliary dyskinesia and severe asthma.

Milestone's lead product candidates are delivered through inhalation or systemic administration, reflecting the company's commitment to optimizing therapeutic delivery directly to the lungs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.