Milestone Pharmaceuticals (NASDAQ:MIST) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Milestone Pharmaceuticals (NASDAQ:MIST) announced its quarterly earnings results on Friday. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04, FiscalAI reports. The firm had revenue of $2.96 million for the quarter, compared to analysts’ expectations 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 Down 20.6%

Shares of Milestone Pharmaceuticals stock traded down $0.14 during midday trading on Friday, hitting $0.52. The company had a trading volume of 4,142,608 shares, compared to its average volume of 1,227,676. 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 stock has a market capitalization of $64.74 million, a P/E ratio of -0.75 and a beta of 1.07. The company has a 50 day moving average of $0.80 and a 200 day moving average of $1.31. Milestone Pharmaceuticals has a 52-week low of $0.50 and a 52-week high of $3.06.

Milestone Pharmaceuticals News Roundup

Investors following MIST have been watching these news items:

• Positive Sentiment: CARDAMYST product revenue reached about $1.0 million, up 73% from the prior quarter, with roughly 3,400 prescriptions and coverage across about two-thirds of commercially insured lives. CARDAMYST and runway update
• Positive Sentiment: The company plans to cut operating expenses by about 30%, while keeping its sales team and AFib-RVR Phase 3 program in place. It expects $145.4 million in cash and investments to fund operations into late 2028, beyond the trial’s anticipated second-half 2028 data readout. Company results and cost-efficiency measures
• Negative Sentiment: The CFO and CMO have left the leadership team. Although cost reductions should conserve cash, the departures and the need to scale back spending may raise concerns about execution and commercialization. Cost-cutting and leadership update

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MIST shares. HC Wainwright restated a “buy” rating on shares of Milestone Pharmaceuticals in a report on Thursday, September 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Milestone Pharmaceuticals in a report on Monday, October 12th. Cantor Fitzgerald started coverage on Milestone Pharmaceuticals in a research report on Thursday, August 20th. They issued an “overweight” rating and a $3.00 price objective on the stock. Finally, Wall Street Zen upgraded Milestone Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.40.

Milestone Pharmaceuticals Company Profile

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.