Milestone Pharmaceuticals Inc. (NASDAQ:MIST) reported first-quarter earnings on Wednesday before the market opened. Here’s a rundown of the report.
- Milestone shares are retreating from recent levels. Why is MIST stock falling?
Q1 Highlights
Milestone reported a loss of 20 cents per share, missing the consensus estimate of 14 cents. In addition it reported revenue of $238,000.
Product revenue totaled $0.2 million during the quarter, compared to no product revenue in the prior-year period.
Research and development expense decreased to $3.3 million from $5.0 million year-over-year, primarily due to lower outside service costs related to drug development and research.
Milestone said the promotional launch for CARDAMYST nasal spray was initiated in mid-February 2026, approximately eight weeks after FDA approval.
The company said approximately 600 CARDAMYST prescriptions have been filled for 560 PSVT patients through April, with around 400 unique prescribers starting patients on the treatment.
Milestone also said more than 25% of commercially insured lives in the U.S. now have coverage for CARDAMYST following formulary coverage from Express Scripts in March.
CEO Joseph Oliveto said healthcare professionals' initial reaction to the product has been positive and highlighted clinician enthusiasm for expanded development of etripamil in AFib-RVR.
The company also noted that it has initiated its Phase 3 pivotal trial in AFib-RVR and is actively engaging potential clinical trial sites.
As of March 31, Milestone had cash, cash equivalents and short-term investments of $184.2 million.
Milestone Shares Fall
MIST Price Action: At the time of publication, Milestone shares are trading 7.37% lower at $1.75, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
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