Milestone Pharmaceuticals Posts $0.2M Q1 Sales, $184M Cash Runway
Milestone Pharmaceuticals reported $0.2 million in Q1 product revenue from about 600 CARDAMYST™ scripts across 400 unique prescribers. The company held $184.2 million cash at March 31, funding operations into H2 2027 while launching its AFib-RVR Phase 3 trial and securing Express Scripts coverage for over 25% of U.S. lives.
1. Product Launch and Uptake
Milestone initiated CARDAMYST™ (etripamil) nasal spray commercialization in mid-February with a 60-person sales force targeting cardiologists and electrophysiologists. By April, approximately 600 prescriptions were filled for 560 PSVT patients and around 400 unique prescribers had started patients on the treatment.
2. Formulary Coverage and Patient Access
Express Scripts added CARDAMYST to its national commercial formularies effective March 27, expanding coverage to over 25% of U.S. commercially insured lives. This broad access aims to reduce patient out-of-pocket costs and drive prescribing momentum.
3. Clinical and Regulatory Updates
Milestone launched its Phase 3 registration trial for etripamil in atrial fibrillation with rapid ventricular rate (AFib-RVR), expecting first patient enrollment in H2 2026. The European Medicines Agency accepted its MAA for a conditional approval under the brand TACHYMIST™, with a decision due H1 2027, and China’s NMPA accepted the NDA in January 2025.
4. First Quarter 2026 Financial Results
As of March 31, Milestone held $184.2 million in cash, cash equivalents and short-term investments, up from $106.0 million at year-end 2025. Q1 product revenues reached $0.2 million, while R&D and SG&A investments continue to support commercial rollout and the upcoming Phase 3 trial.