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Milestone Pharmaceuticals Inc. (Symbol: MIST) is a biopharmaceutical company headquartered at 6100 Royalmount Ave, Montreal, QC, Canada. The company specializes in developing and commercializing innovative treatments for cardiovascular conditions, with a key focus on its lead investigational product, etripamil.
Milestone's primary product, etripamil, is a calcium channel blocker designed for rapid onset as a nasal spray. This unique formulation allows patients to self-administer the medication to terminate episodes of paroxysmal supraventricular tachycardia (PSVT). PSVT is a condition characterized by an abnormally fast heart rate, which can be both sudden and recurrent.
The company is also conducting a Phase 2 clinical trial to evaluate the efficacy of etripamil for patients with atrial fibrillation experiencing a rapid ventricular rate (AFib-RVR). This trial marks another significant step in expanding the usage of etripamil to address additional cardiovascular indications.
Recent Achievements and Current Projects:
- Milestone intends to use the proceeds from its latest offering to further the development of etripamil for PSVT and AFib-RVR, along with other general corporate purposes.
- The company has secured a shelf registration statement on Form S-3, effective as of February 2, 2022, allowing for streamlined securities offering.
- Milestone actively participates in educational initiatives, such as partnering with the Arrhythmia Alliance for SVT Awareness Day, aimed at raising awareness about heart rhythm disorders.
Financial Condition and Partnerships: Milestone maintains a strong financial position, supported by recent offerings and strategic partnerships. The company's collaborations with healthcare organizations and participation in global awareness campaigns underline its commitment to improving cardiovascular health.
Key Highlights:
- Innovative treatment for PSVT with a patient-administered nasal spray.
- Ongoing Phase 2 trial for AFib-RVR.
- Effective use of proceeds for development and expansion.
- Active involvement in cardiovascular health awareness initiatives.
With a robust pipeline and strategic initiatives, Milestone Pharmaceuticals Inc. is dedicated to addressing unmet needs in cardiovascular care, making significant strides in the biopharmaceutical industry.
Milestone Pharmaceuticals Inc. (MIST) reported substantial progress in its Phase 3 PSVT clinical program, achieving the required 180 confirmed events for the RAPID study. The topline data readout is expected in mid-second half of 2022. Financially, the company had $86.2 million in cash as of June 30, 2022, but incurred operating losses of $16.8 million for Q2, marking a significant decline from a prior year income of $0.7 million. Research and development expenses rose to $10.7 million due to advancing clinical trials, while general and administrative costs increased to $3.9 million.
Milestone Pharmaceuticals Inc. (Nasdaq: MIST) will participate in a fireside chat at the Jefferies Healthcare Conference on June 9, 2022, at 1:30 PM ET in New York, NY. Joseph Oliveto, the President and CEO, will lead the discussion. A live webcast will be accessible in the News & Events section of Milestone's website, with an archived replay available for 90 days post-event. Milestone focuses on innovative cardiovascular medicines, with its lead candidate etripamil in Phase 3 trials for paroxysmal supraventricular tachycardia and Phase 2 trials for atrial fibrillation.
Milestone Pharmaceuticals Inc. (Nasdaq: MIST) announced the granting of incentive stock options for 92,000 common shares to three new employees, exercisable at $5.48 per share, the closing price on May 16, 2022. This move, compliant with NASDAQ's inducement grant exception, aims to attract talent as part of their employment compensation. The options have a 10-year term and will vest over four years, starting with 25% vesting after the first year. Milestone is advancing its lead candidate, etripamil, through clinical trials targeting cardiovascular conditions.
Milestone Pharmaceuticals Inc. (Nasdaq: MIST) announced that CEO Joseph Oliveto will participate in a fireside chat at the H.C. Wainwright Global Investment Conference from May 23-26, 2022. The pre-recorded chat will be accessible starting May 24, 2022, at 7:00 am ET via their website. Milestone is focused on innovative cardiovascular medicines, with their lead product candidate, etripamil, in a Phase 3 clinical program for treating paroxysmal supraventricular tachycardia (PSVT) and in a Phase 2 trial for atrial fibrillation with rapid ventricular rate (AFib-RVR).
Milestone Pharmaceuticals (Nasdaq: MIST) reported first-quarter financial results for 2022, showcasing a cash position of $100.2 million. The company continues to advance its Phase 3 program for etripamil, targeting patients with PSVT, with key topline data readout expected in mid-second half 2022. Recent data from the NODE-302 study indicates a 60.2% conversion rate for PSVT episodes with low ED intervention needs. The operating loss for Q1 2022 was $14 million, an increase from the prior year's $12.5 million.
Milestone Pharmaceuticals Inc. (Nasdaq: MIST) presented data from the NODE-302 Phase 3 study of etripamil nasal spray, showcasing its effectiveness in treating paroxysmal supraventricular tachycardia (PSVT). The study indicated that 85% of participants from the previous NODE-301 chose to continue, with a conversion rate of 60.2% at 30 minutes post-administration. The treatment was well-tolerated and significantly reduced emergency department visits. Results are being shared at the Heart Rhythm 2022 conference, indicating promising advancements in self-managed PSVT care.
Milestone Pharmaceuticals (Nasdaq: MIST) announced on April 15, 2022, the grant of stock options to new employees as part of their compensation. One employee received 65,000 options with an exercise price of $6.85, and another received 36,000 options at $6.93. These grants, approved under NASDAQ's inducement grant exception, vest over four years. Milestone is developing innovative cardiovascular medicines, with its lead candidate, etripamil, in Phase 3 trials for paroxysmal supraventricular tachycardia and Phase 2 trials for atrial fibrillation.
Milestone Pharmaceuticals (Nasdaq: MIST) will host a virtual Key Opinion Leader event on April 21, 2022, at 1:00 p.m. ET to discuss etripamil, its lead investigational product for treating paroxysmal supraventricular tachycardia (PSVT). Notable speakers include Bruce Stambler, MD, and Sean Pokorney, MD. The event will cover the PSVT treatment landscape, existing data on etripamil, and its commercial prospects. Etripamil aims to provide a self-administered rapid-response therapy for PSVT, potentially reducing emergency care needs.
Milestone Pharmaceuticals Inc. (MIST) reported its financial results for Q4 and the year ended December 31, 2021. The company had cash and equivalents of $114.1 million, down from $142.3 million the previous year. Research and development expenses rose significantly to $10.9 million in Q4, contributing to a total operating loss of $42.9 million for 2021. Milestone is focused on the upcoming Phase 3 RAPID trial results for its cardiovascular drug etripamil, with topline data expected mid-second half of 2022, targeting supraventricular tachycardia treatment.
Milestone Pharmaceuticals Inc. (Nasdaq: MIST) announced its participation in two upcoming investor conferences. Management will present at the Cowen 42nd Annual Health Care Conference on March 8, 2022, at 2:10 p.m. ET, and at the Oppenheimer 32nd Annual Healthcare Conference on March 16, 2022, at 11:20 a.m. ET. Live webcasts of these presentations will be available on Milestone's website, with archived replays accessible for 90 days post-event. Milestone focuses on innovative cardiovascular medicines, with its lead candidate, etripamil, in Phase 3 trials for paroxysmal supraventricular tachycardia.
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