Canada's Milestone Pharma misses Q2 product revenue expectations

Milestone Pharmaceuticals

12/08/2026 12:18

Overview
Canada biopharma's Q2 product revenue missed analyst expectations
Net loss per share for Q2 widened to $0.21
Company increased selling, general and administrative expenses due to CARDAMYST launch

Outlook
Milestone expects EMA decision on CARDAMYST for PSVT in H1 2027
Company expects cash, equivalents and investments to fund operations into H2 2027
Milestone plans to enroll first patient in AFib-RVR Phase 3 trial in H2 2026

Result Drivers
PRESCRIPTION GROWTH - Co said CARDAMYST prescriptions and prescribers increased through Q2 following launch for PSVT
INSURANCE COVERAGE EXPANSION - Co reported a significant recent increase in U.S. commercial insurance coverage for CARDAMYST
LAUNCH-RELATED EXPENSES - Co attributed higher selling, general and administrative expenses to personnel and operational costs related to CARDAMYST launch

Company press release: ID:nGNX6bWjvw

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$559,000
$816,670 (6 Analysts)
Q2 Loss Per Share
 
$0.21
 
Q2 Income From Operations
 
-$25.63 mln
 
Q2 Loss Per Basic Share
 
$0.21
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Milestone Pharmaceuticals Inc is $7.00, about 451.2% above its August 11 closing price of $1.27

Reuters Recommended Reads
Aug 12 - Canada's HLS Therapeutics Q2 revenue rises on higher cardiovascular drugs demand
Aug 12 - Canada's COSCIENS Biopharma Q2 net loss narrows on higher sales
Aug 11 - Canada's Cipher Pharma Q2 revenue falls on lower Natroba sales amid reduced Medicaid coverage

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)