Milestone Pharmaceuticals | 8-K: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.12, beating the estimate of USD -0.164.

EBIT: As of FY2025 Q3, the actual value is USD -11.74 M.

Cash and Cash Equivalents

• As of September 30, 2025, Milestone Pharmaceuticals Inc. had cash, cash equivalents, and short-term investments of $82.6 million, compared to $69.7 million as of December 31, 2024.

Revenue

• No revenue was reported in the third quarter ended September 30, 2025, or for the third quarter of 2024.

Research and Development Expense

• Research and development expense for the third quarter of 2025 was $3.9 million, compared with $4.0 million for the prior year period. For the nine months ended September 30, 2025, research and development expense was $12.6 million compared with $10.4 million for the same period in 2024. The increase was primarily due to higher consulting and outside service costs that were partially offset by lower personnel-related costs.

General and Administrative Expense

• General and administrative expense for the third quarter of 2025 was $3.3 million, compared with $3.7 million for the prior year period. For the nine months ended September 30, 2025, general and administrative expense was $12.2 million, compared with $12.7 million for the prior year period. The decrease between the quarters is primarily due to a decrease in professional fees and personnel costs.

Commercial Expense

• Commercial expense for the third quarter of 2025 was $4.6 million, compared with $1.9 million for the prior year period. For the nine months ending September 30, 2025, commercial expense was $20.1 million compared with $6.6 million for the prior year period. These increases are a result of additional personnel costs, professional costs, and other operational expenses related to preparation for the launch of CARDAMYST.

Net Loss

• For the third quarter of 2025, net loss was $11.9 million, compared to $9.4 million for the prior year period. For the nine months ended September 30, 2025, Milestone’s net loss was $45.6 million, compared to $29.2 million in the prior year period.

Outlook / Guidance

• Milestone Pharmaceuticals Inc. is optimistic about the potential FDA approval of CARDAMYST (etripamil) nasal spray for PSVT, with a PDUFA target date of December 13, 2025. The company has strengthened its balance sheet with a successful equity financing and expects to receive a $75 million royalty payment upon FDA approval, which will support the commercial launch of CARDAMYST.