Canada's Milestone Pharmaceuticals Q1 revenue misses estimates after CARDAMYST launch

Milestone Pharmaceuticals

13/05/2026 12:21

Overview

Canada-U.S. biopharma firm's Q1 revenue missed analyst expectations after CARDAMYST launch

Net loss widened to $26.1 mln, reflecting higher commercial expenses for product launch

Company ended Q1 with $184.2 mln in cash, providing runway into H2 2027

Outlook

Company expects cash and investments to fund operations into H2 2027

Milestone expects Phase 3 AFib-RVR trial to begin patient enrollment in H2 2026

European decision on etripamil nasal spray approval expected by H1 2027

Result Drivers

CARDAMYST LAUNCH - Initial U.S. sales driven by launch of CARDAMYST nasal spray for PSVT, with 600 prescriptions filled for 560 patients and 400 unique prescribers

COMMERCIAL SPENDING - Higher commercial expenses due to CARDAMYST launch and expanded sales force

PAYOR ACCESS - Express Scripts national formulary coverage secured, broadening patient access to CARDAMYST

Company press release: ID:nGNX9f5Wrr

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$238,000
$37.65 mln (4 Analysts)
Q1 Basic EPS
-$0.20
Q1 Income From Operations
-$23.66 mln


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 $7.50, about 294.7% above its May 12 closing price of $1.90

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.)