Milestone Pharmaceuticals Inc. MIST
We are a biopharmaceutical company focused on the development and commercialization of innovative cardiovascular medicines. Our approved product CARDAMYSTTM (etripamil) nasal spray is available in the United States and is the first and only FDA approved self-administered treatment for use by patients anywhere, anytime an attack of PSVT occurs. We continue to seek, either directly or through collaboration with our partners, marketing approval from regulatory agencies responsible for regions outside the United States. We are also developing etripamil for the indication of atrial fibrillation with rapid ventricular rate, or "AFib-RVR."
We are currently focusing our efforts and financial resources on (i) the commercialization of CARDAMYSTTM (etripamil) nasal spray for the treatment of PSVT, (ii) the development of etripamil for the treatment of AFib-RVR and (iii) corporate development activities that have the potential to increase company value through strategic collaborations.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| R&D | $18.1M | $14.4M | $31.1M | $39.8M | $38.7M | $34.5M | $42.0M | $16.8M | — |
| SG&A | $17.3M | $16.7M | $15.9M | $15.7M | $12.4M | $10.3M | $7.0M | $3.1M | — |
| Operating income | -$62.1M | -$42.1M | -$61.1M | -$59.6M | -$43.1M | -$50.7M | -$57.9M | -$23.8M | — |
| Interest expense | $3.8M | $3.6M | $2.6M | — | — | — | — | — | — |
| Pre-tax income | -$63.1M | -$41.5M | -$59.7M | -$58.4M | -$42.9M | -$50.0M | -$55.3M | -$23.1M | — |
| Income tax | — | — | — | — | — | $17.0K | $56.0K | $74.0K | — |
| Net income | -$63.1K | -$41.5K | -$59.7K | -$58.4M | -$42.9M | -$50.0M | -$55.2M | -$23.2M | — |
| EPS, basic | -0.75 | -0.67 | -1.39 | -1.38 | -1.02 | -1.70 | — | — | — |
| EPS, diluted | -0.75 | -0.67 | -1.39 | -1.38 | -1.02 | -1.70 | -3.50 | 72.63 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $73.0M | $25.3M | $13.8M | $7.6M | $114.1M | $72.3M | $119.8M | $85.9M | $10.9M |
| Short-term investments | $32.9M | $44.4M | $52.2M | $56.9M | $0 | $70.0M | — | $29.0K | — |
| Inventory | $648.0K | — | — | — | — | — | — | — | — |
| Total current assets | $111.9M | $73.9M | $73.0M | $71.8M | $118.9M | $148.7M | $122.5M | $88.1M | — |
| Property, plant and equipment | $511.0K | $197.0K | $277.0K | $257.0K | $215.0K | $308.0K | $405.0K | $30.0K | — |
| Total assets | $113.6M | $75.5M | $75.2M | $74.5M | $119.8M | $150.0M | $123.4M | $88.1M | — |
| Accounts payable | $13.3M | $7.6M | $6.7M | $5.6M | $6.6M | $5.9M | $8.0M | $4.5M | — |
| Total current liabilities | $14.0M | $8.1M | $7.2M | $6.1M | $6.8M | $6.2M | $8.3M | $4.5M | — |
| Long-term debt | $57.2M | $53.4M | $49.8M | — | — | — | $0 | — | — |
| Total liabilities | $71.8M | $62.4M | $58.5M | $8.1M | $7.2M | $6.9M | $8.5M | $4.5M | — |
| Retained earnings | -$430.6M | -$367.5M | -$326.0M | -$266.3M | -$208.0M | -$163.5M | -$113.5M | -$58.3M | — |
| Total equity | $41.8M | $13.1M | $16.8M | $66.3M | $112.6M | $143.1M | $114.9M | $83.5M | $26.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$49.0M | -$28.8M | -$46.4M | -$52.5M | -$33.2M | -$50.7M | -$51.2M | -$21.0M | — |
| Depreciation and amortisation | $114.0K | $105.0K | $92.0K | $89.0K | $93.0K | $97.0K | $38.0K | $10.0K | — |
| Stock-based compensation | $7.5M | $5.8M | $9.5M | $9.0M | $7.3M | $4.9M | $1.2M | $633.0K | — |
| Capital expenditure | $302.0K | $33.0K | $112.0K | $272.0K | — | — | $413.0K | $5.0K | — |
| Investing cash flow | $11.2M | $8.3M | $4.8M | -$57.1M | $70.0M | -$70.0M | -$384.0K | $16.0M | — |
| Financing cash flow | $85.5M | $32.1M | $47.8M | $3.1M | $5.1M | $73.2M | $85.4M | $80.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-052880.
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