Canada's Milestone Pharmaceuticals posts Q3 product revenue after nasal spray launch
MIST•Milestone Pharmaceuticals reported $963,000 in Q3 product revenue from CARDAMYST nasal spray after its launch. The company plans to cut operating expenses by about 30% and expects its cash runway to extend into late 2028.
1. Q3 results
Milestone Pharmaceuticals reported Q3 product revenue of $963,000, driven by prescription growth and an expanding base of CARDAMYST prescribers. The company’s net loss widened as expenses rose, primarily due to costs tied to the product launch.
2. Cost and cash plans
Milestone Pharmaceuticals is targeting an approximately 30% reduction in operating expenses through workforce reductions, internalizing its sales force, and focusing on marketing and support programs. It expects to complete the measures by Q1 2027 and says they will extend its cash runway into late 2028, more than a year beyond prior guidance.
3. Trial timing
Topline data from the company’s Phase 3 AFib-RVR trial is expected in the second half of 2028.
