Milestone Pharmaceuticals ( (MIST) ) has released its Q1 earnings. Here is a breakdown of the information Milestone Pharmaceuticals presented to its investors.
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Milestone Pharmaceuticals Inc. is a biopharmaceutical company based in Montréal, Canada, specializing in the development and commercialization of cardiovascular medicines, with its lead product candidate being etripamil, a rapid-onset nasal spray for treating various cardiovascular conditions.
In its latest earnings report for the quarter ending March 31, 2025, Milestone Pharmaceuticals reported a net loss of $20.8 million, compared to a net loss of $10.4 million in the same period the previous year. The company did not record any revenue for the quarter, as it continues to focus on the development and potential commercialization of its lead product candidate, etripamil.
Key financial highlights from the report include an increase in operating expenses, with research and development costs rising to $5 million and commercial expenses increasing significantly to $10.4 million. The company’s cash and cash equivalents stood at $45.1 million, up from $25.3 million at the end of 2024, primarily due to investment activities. Milestone also reported a shareholders’ deficit of $6.1 million as of March 31, 2025.
Despite the financial losses, Milestone Pharmaceuticals remains focused on advancing the development of etripamil, with ongoing clinical trials and strategic partnerships aimed at securing regulatory approvals and eventual market entry. The company is closely monitoring its cash flows and has temporarily paused certain operational expenditures following a Complete Response Letter from the FDA.
Looking ahead, Milestone Pharmaceuticals is poised to continue its efforts in the cardiovascular sector, with management expressing confidence in the potential of etripamil and its strategic plans to achieve future growth and market presence.