NASDAQ$MIST
Milestone Pharmaceuticals Inc · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Milestone Pharmaceuticals reported a wider net loss in Q3 2025 as operating expenses rose ahead of a potential CARDAMYST launch, with no revenue recorded during the quarter.
Milestone Pharmaceuticals saw its Q3 2025 net loss increase to $11.9 million amid rising commercial expenses as the company gears up for the potential launch of CARDAMYST. No revenue was generated during the quarter.
- No revenue was reported in Q3 2025.
- Net loss increased to $11.9 million compared to $9.4 million in Q3 2024.
- Commercial expenses rose to $4.6 million due to launch preparations for CARDAMYST.
- Cash and cash equivalents rose to $82.6 million following an equity offering and amended royalty agreement.
Headline financials
Revenue & EPS history
Milestone Pharmaceuticals · Revenue · Quarterly
$0
Forward guidance
Milestone is preparing for a potential FDA approval of CARDAMYST in December 2025, with resources and infrastructure in place for a rapid commercial launch.
Tailwinds
- PDUFA target date for CARDAMYST set for December 13, 2025.
- Promotional launch plans are in place for immediate rollout upon approval.
- Strengthened financial position through recent equity offering and royalty agreement.
- Clinical data presented supports efficacy and safety of etripamil.
- Phase 3 protocol for AFib-RVR program finalized with FDA discussions completed.
Headwinds
- No revenue generated in Q3 2025.
- Net loss increased year-over-year.
- Commercial expenses surged due to pre-launch investments.
- Interest income decreased compared to Q3 2024.
- Dependent on FDA approval and regulatory outcomes to proceed with commercial plans.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+1.7%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+2.2%
Avg return
30 days after
64%
18 / 28 earnings
Positive
+24.1%
Q3 2021
Best reaction
-23.0%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.5% | -23.2% | — | |
| Q4 2026 | -20.0% | -26.5% | +23.5% | |
| Q3 2025 | +1.0% | +21.5% | +26.2% | |
| Q2 2025 | +7.1% | +9.7% | +23.2% | |
| Q1 2025 | -1.7% | +8.4% | +38.7% | |
| Q4 2024 | +7.9% | -53.7% | -38.9% | |
| Q3 2024 | -5.2% | -12.4% | -4.1% | |
| Q1 2024 | +1.2% | +2.4% | -16.5% | |
| Q4 2023 | +16.0% | +20.7% | +9.3% | |
| Q3 2023 | -23.0% | -24.4% | -13.7% | |
| Q2 2023 | +1.6% | +2.6% | -7.1% | |
| Q1 2023 | +12.8% | +0.5% | +1.3% | |
| Q4 2022 | -4.0% | -0.3% | -9.0% | |
| Q3 2022 | +13.0% | +7.1% | -0.7% | |
| Q2 2022 | +3.6% | +5.3% | +29.2% | |
| Q1 2022 | -2.5% | +1.6% | +1.6% | |
| Q4 2021 | +12.4% | +17.5% | +22.0% | |
| Q3 2021 | +24.1% | +13.9% | +4.5% | |
| Q2 2021 | +0.2% | +2.1% | +7.1% | |
| Q1 2021 | +0.5% | +1.3% | +6.1% | |
| Q4 2020 | -6.6% | -2.4% | -4.0% | |
| Q3 2020 | +6.1% | +6.0% | +19.8% | |
| Q2 2020 | -1.8% | +0.3% | -12.2% | |
| Q1 2020 | +0.3% | +4.8% | +29.5% | |
| Q4 2019 | +7.4% | +8.7% | -90.4% | |
| Q3 2019 | -4.2% | -1.2% | -7.2% | |
| Q2 2019 | +7.8% | +9.9% | +38.1% | |
| Q1 2019 | +3.4% | -4.5% | -16.2% | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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