Milestone Pharmaceuticals (MIST)
NASDAQ:MIST
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Milestone Pharmaceuticals
(NASDAQ:MIST)
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Rating:52Neutral
Price Target:
$2.00
▲(12.36% Upside)
Action:ReiteratedDate:04/09/26
The score is held back primarily by weak financial performance—large ongoing losses, significant cash burn, and higher leverage. Offsetting this are constructive corporate catalysts (U.S. product launch and $75M non-dilutive financing) and neutral-to-mixed technicals, while valuation provides limited support due to negative earnings and no dividend yield data.
Positive Factors
FDA-approved commercial launch
FDA approval and immediate retail availability mark a structural shift from development to commercial-stage operations. A national sales force and pharmacy distribution create enduring channels for revenue generation, establish first-mover presence in PSVT, and materially de-risk the binary approval milestone.
Negative Factors
Very weak underlying profitability
The company remains deeply unprofitable with minimal trailing revenue relative to operating losses. Sustained negative earnings mean the business must quickly scale sales or cut costs to avoid recurrent financing; otherwise losses will continue to erode balance sheet resilience and limit strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
FDA-approved commercial launch
FDA approval and immediate retail availability mark a structural shift from development to commercial-stage operations. A national sales force and pharmacy distribution create enduring channels for revenue generation, establish first-mover presence in PSVT, and materially de-risk the binary approval milestone.
Read all positive factors
Milestone Pharmaceuticals (MIST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$209.45M
Dividend YieldN/A
Average Volume (3M)1.93M
Price to Earnings (P/E)―
Beta (1Y)2.43
Revenue GrowthN/A
EPS Growth3.70%
CountryUS
Employees33
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.16
Shares Outstanding117,667,274
10 Day Avg. Volume2,439,318
30 Day Avg. Volume1,927,196
Financial Highlights & Ratios
PEG Ratio-0.23
Price to Book (P/B)4.06
Price to Sales (P/S)109.60
P/FCF Ratio-3.43
Enterprise Value/Market Cap0.66
Enterprise Value/Revenue89.40
Enterprise Value/Gross Profit92.95
Enterprise Value/Ebitda-2.30
Forecast
1Y Price Target
$8.00Price Target Upside349.44% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.51
Revenue Forecast (FY)$37.94M
Milestone Pharmaceuticals Business Overview & Revenue Model
Company Description
Milestone Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines. The company is developing etripamil, a novel channel blocker, which is in Phase III clinical trial for the t...
How the Company Makes Money
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Milestone Pharmaceuticals Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
28
Negative
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.55M | 0.00 | 1.00M | 5.00M | 15.00M |
| Gross Profit | 1.43M | 0.00 | 1.00M | 5.00M | 15.00M |
| EBITDA | -62.14M | -37.83M | -57.04M | -58.30M | -42.98M |
| Net Income | -63.06M | -41.52M | -59.69M | -58.39M | -42.85M |
Balance Sheet | |||||
| Total Assets | 113.56M | 75.50M | 75.23M | 74.48M | 119.85M |
| Cash, Cash Equivalents and Short-Term Investments | 105.96M | 69.69M | 66.00M | 64.58M | 114.14M |
| Total Debt | 58.38M | 54.80M | 51.77M | 2.49M | 698.00K |
| Total Liabilities | 71.79M | 62.35M | 58.45M | 8.13M | 7.25M |
| Stockholders Equity | 41.77M | 13.15M | 16.77M | 66.35M | 112.60M |
Cash Flow | |||||
| Free Cash Flow | -49.34M | -28.88M | -46.54M | -52.74M | -33.22M |
| Operating Cash Flow | -49.04M | -28.85M | -46.42M | -52.47M | -33.22M |
| Investing Cash Flow | 11.25M | 8.28M | 4.76M | -57.12M | 70.00M |
| Financing Cash Flow | 85.53M | 32.12M | 47.79M | 3.09M | 5.05M |
Milestone Pharmaceuticals Technical Analysis
Positive
1.78
Price Trends
1.64
Positive
1.94
Negative
1.88
Negative
Market Momentum
-0.05
Negative
61.57
Neutral
95.78
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIST, the sentiment is Positive. The current price of 1.78 is above the 20-day moving average (MA) of 1.45, above the 50-day MA of 1.64, and below the 200-day MA of 1.88, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 61.57 is Neutral, neither overbought nor oversold. The STOCH value of 95.78 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MIST.
Milestone Pharmaceuticals Risk Analysis
Milestone Pharmaceuticals disclosed 70 risk factors in its most recent earnings report. Milestone Pharmaceuticals reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Milestone Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $174.53M | -1.38 | -65.76% | ― | ― | -17.43% | |
54 Neutral | $693.54M | -8.12 | -45.01% | ― | ― | -7.87% | |
52 Neutral | $209.45M | -2.43 | -656.82% | ― | ― | 3.70% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $186.35M | -3.95 | -977.67% | ― | ― | 17.36% | |
47 Neutral | $328.38M | -3.11 | -77.91% | ― | -76.59% | 94.03% | |
43 Neutral | $83.98M | -2.15 | 13.30% | ― | 448.44% | ― |
* Healthcare Sector Average
MIST
Milestone Pharmaceuticals
1.78
1.06
147.22%
CRBP
Corbus Pharmaceuticals
9.84
4.17
73.54%
MCRB
Seres Therapeutics
8.76
-1.96
-18.28%
AVTX
Avalo Therapeutics
14.41
9.31
182.55%
ELTX
Elicio Therapeutics
10.13
4.84
91.49%
ANRO
Alto Neuroscience, Inc.
21.71
19.64
948.79%
Milestone Pharmaceuticals Corporate Events
Business Operations and StrategyProduct-Related Announcements
Milestone Launches CARDAMYST Nasal Spray in U.S. Pharmacies
Positive
Jan 26, 2026
On January 26, 2026, Milestone Pharmaceuticals announced that CARDAMYST (etripamil) nasal spray, the first and only FDA-approved self-administered treatment for adults with paroxysmal supraventricular tachycardia, became available through U.S. ret...
Business Operations and StrategyPrivate Placements and Financing
Milestone Pharmaceuticals Secures $75M Non-Dilutive Royalty Financing
Positive
Jan 13, 2026
On January 12, 2026, Milestone Pharmaceuticals closed a previously arranged royalty financing transaction under a Royalty Purchase Agreement with RTW Royalty I DAC, an affiliate of RTW Investments, whereby funds managed by RTW paid $75 million to ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.