Quarterly ResultMay 13, 2026, 07:08 AM
Milestone Pharma Q1 Net Loss $(26.1)M; First CARDAMYST Sales $0.2M
AI Summary
Milestone Pharmaceuticals reported a net loss of $26.1 million for Q1 2026, an increase from $20.8 million in Q1 2025, though net loss per share improved to $(0.20). This quarter marks the first product revenue from CARDAMYST™ (etripamil) nasal spray, totaling $0.2 million, following its FDA approval in December 2025. The company secured $75.0 million from a royalty financing arrangement, contributing to a significant increase in total assets and liabilities, and states it has sufficient liquidity for the next 12 months.
Key Highlights
- Net loss was $(26.1) million in Q1 2026, up from $(20.8) million in Q1 2025.
- Net loss per share improved to $(0.20) from $(0.31) year-over-year.
- Reported first product revenue of $0.2 million from CARDAMYST™ sales.
- Research and development expenses decreased 34.7% to $3.3 million.
- Commercial expenses increased 52.4% to $15.8 million.
- Secured $75.0 million from a new royalty financing arrangement.
- Cash, cash equivalents, and short-term investments totaled $184.2 million.
- Total assets grew to $193.7 million from $113.6 million (Dec 31, 2025).