Milestone Pharmaceuticals (MIST)

Executive Summary

Milestone Pharmaceuticals is a commercial-stage biopharmaceutical company focused on patient-administered therapies for acute episodic cardiovascular conditions. Its lead product, CARDAMYST™ (etripamil) nasal spray, received FDA approval for the rapid conversion of paroxysmal supraventricular tachycardia (PSVT), enabling at-home management and reducing emergency department visits. The company is now executing the commercial launch of CARDAMYST while advancing etripamil into atrial fibrillation with rapid ventricular rate (AFib-RVR), a larger market opportunity. Milestone's differentiated strategy addresses significant unmet needs in cardiology, with a strong intellectual property position and a pipeline that includes Phase 3 trials for AFib-RVR.

Upcoming Catalysts (preview)

• Q2 2026CARDAMYST commercial launch and initial sales results80% success
• Q4 2026Phase 3 topline data for etripamil in AFib-RVR (ReVeRA study)60% success
• TBDPotential partnership or licensing deal for ex-U.S. commercialization of etripamil70% success