Milestone Pharmaceuticals — Third Quarter 2026 Earnings Summary

Milestone Pharmaceuticals reported third-quarter 2026 net product revenue of $1.0 million for its FDA-approved drug CARDAMYST, representing a 73% increase from the previous quarter. To extend its cash runway into late 2028, the company implemented cost-efficiency measures that reduce operating expenses by approximately 30%, including bringing its sales force in-house and reducing its headquarters workforce. Consequently, Chief Financial Officer Amit Hasija and Chief Medical Officer Dr. David Bharucha have departed the leadership team, while the company maintains full funding for its Phase 3 AFib-RVR trial with data expected in the second half of 2028. As of September 30, 2026, the company held $145.4 million in cash and equivalents, providing sufficient resources to cover operations well beyond the anticipated Phase 3 readout.