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MISTMilestone Pharmaceuticals Inc.
$1.29$111M
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MIST logoMilestone Pharmaceuticals Inc.(MIST)Earnings, Financials & Key Ratios

MIST•NASDAQ
$1.29
Price updated Jul 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryCommercial Specialty Pharma
AboutMilestone Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines. The company is developing etripamil, a novel channel blocker, which is in Phase III clinical trial for the treatment of paroxysmal supraventricular tachycardia in the United States and Canada; and Phase II clinical trial for the treatment of atrial fibrillation and rapid ventricular rate. It has a license and collaboration agreement with Ji Xing Pharmaceuticals to develop and commercialize etripamil prophylactic and therapeutic uses in humans. The company was incorporated in 2003 and is headquartered in Montréal, Canada.Show more
  • Revenue$2M
  • EBITDA-$62M-48.5%
  • Net Income-$63M-51.9%
  • EPS (Diluted)-0.75-11.9%
  • Gross Margin92.63%
  • EBITDA Margin-4034.35%
  • Operating Margin-4041.72%
  • Net Margin-4078.78%
  • ROE-229.65%+17.3%

MIST Price & Volume

Milestone Pharmaceuticals Inc. (MIST) stock price & volume — 10-year historical chart

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Clinical Development Costs Outpace Episodic Revenue Streams

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Binary regulatory liquidity risk

Key Thesis Takeaways

  • Milestone Pharmaceuticals remains a high-risk, clinical-stage entity whose valuation is tethered to binary regulatory outcomes rather than sustainable commercial operations.
  • The company's reliance on sporadic milestone payments to offset massive R&D and SG&A expenditures creates a volatile financial profile that necessitates frequent capital raises.
  • Investors should monitor the firm's ability to transition toward a recurring revenue model, as the current structural deficit and mounting debt load present significant long-term solvency concerns.

Verdict Logic

the company's reliance on non-recurring revenue and its accumulation of $456.7 million in deficit suggest that the current cash position of $71.3 million may be insufficient to reach commercial viability without further dilutive financing.

MIST Growth Metrics

Milestone Pharmaceuticals Inc. (MIST) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-32.38%
TTM-

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-31.65%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM13.92%

Return on Capital

10 Years-55.41%
5 Years-65.19%
3 Years-75.56%
Last Year-74.85%

MIST Recent Earnings

Milestone Pharmaceuticals Inc. (MIST) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 0/12 qtrs (0%)
Q2 2026Latest
May 13, 2026
Metric
Actual
Est
EPS
$0.20-433.3%
$0.06
Rev
$238,000-99.2%
$30M
Q2 2026
Mar 20, 2026
Metric
Actual
Est
EPS
$0.16+11.1%
$0.18
Rev
$2M-96.0%
$38M
Q4 2025
Nov 12, 2025
Metric
Actual
Est
EPS
$0.12+29.4%
$0.17
Rev
—
—
Q3 2025
Aug 12, 2025
Metric
Actual
Est
EPS
$0.20-11.1%
$0.18
Rev
—
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 13, 2026
$0.20vs $0.06-433.3%
$238,000vs $30M-99.2%
Q2 2026Mar 20, 2026
$0.16vs $0.18+11.1%
$2Mvs $38M-96.0%
Q4 2025Nov 12, 2025
$0.12vs $0.17+29.4%
—
Q3 2025Aug 12, 2025
$0.20vs $0.18-11.1%
—
Based on last 12 quarters of dataView full earnings history →

Latest MIST News

Recent stock market news and headlines for Milestone Pharmaceuticals Inc. (MIST)

Globe News Wire·5 days ago
Milestone Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

MONTREAL and CHARLOTTE, N. C. , July 02, 2026 (GLOBE NEWSWIRE) -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST) (the "Company" or "Milestone"), today announced that the Company granted equity awards, in the form of a total of 288,000 options (the "Options") to purchase the Company's common shares, pursuant to the Company's 2021 Inducement Plan (the "Plan"), previously approved by the Company's Compensation Committee and the Board of Directors, as a material inducement to the hiring of six new employees.

GlobeNewsWire·5 days ago
Milestone Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

MONTREAL and CHARLOTTE, N.C., July 02, 2026 (GLOBE NEWSWIRE) -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST) (the “Company” or “Milestone”), today announced that the Company granted equity awards, in the form of a total of 288,000 options (the “Options”) to purchase the Company's common shares, pursuant to the Company's 2021 Inducement Plan (the “Plan”), previously approved by the Company's Compensation Committee and the Board of Directors, as a material inducement to the hiring of six new employees.

GuruFocus·Jun 23, 2026
Alpha Cognition Announces Election of Dr. Robert Wills as Chairman of the Board

Alpha Cognition Inc. (Nasdaq: ACOG) (“Alpha Cognition”, or the “Company”), a biopharmaceutical company focused on developing novel therapies for debili

Peers Comparison

Key metrics vs top competitors for Milestone Pharmaceuticals Inc. (MIST)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
MIST logoMISTMilestone Pharmaceuticals Inc.Current
$1.29$110.8M-1.72—-4078.78%-229.65%—
ACAD logoACADACADIA Pharmaceuticals Inc.
$26.20$4.49B11.4411.87%34.3%35.65%—
PRAX logoPRAXPraxis Precision Medicines, Inc.
$323.95$9.36B-24.03-100%—-43.02%—
XENE logoXENEXenon Pharmaceuticals Inc.
$63.37$5B-14.53——-49.23%—
INVA logoINVAInnoviva, Inc.
$22.25$1.64B6.7418.52%118.91%47.59%—
IDYA logoIDYAIDEAYA Biosciences, Inc.
$40.51$3.56B-31.653024.43%-62.17%-13.96%—

Compare MIST vs Peers

Milestone Pharmaceuticals Inc. (MIST) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ACAD

Most directly comparable listed peer for MIST.

Scale Benchmark

vs MRK

Larger-name benchmark to compare MIST against a more recognizable public peer.

Peer Set

Compare Top 5

vs ACAD, PRAX, XENE, INVA

MIST SEC Filings & Documents

Milestone Pharmaceuticals Inc. (MIST) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 13, 2026·SEC

Material company update

Mar 20, 2026·SEC

Material company update

Jan 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 20, 2026·SEC

FY 2025

Mar 13, 2025·SEC

FY 2024

Mar 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 13, 2026·SEC

FY 2025

Nov 12, 2025·SEC

FY 2025

Aug 12, 2025·SEC

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MIST Frequently Asked Questions

Milestone Pharmaceuticals Inc. (MIST) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Milestone Pharmaceuticals Inc.'s revenue?

Milestone Pharmaceuticals Inc. (MIST) reported $1.8M in revenue for fiscal year 2025.

Is MIST profitable?

Milestone Pharmaceuticals Inc. (MIST) reported a net loss of $68.4M for fiscal year 2025.

Dividend & Returns
What is MIST's return on equity?

Milestone Pharmaceuticals Inc. (MIST) has a return on equity (ROE) of -229.7%. Negative ROE indicates the company is unprofitable.

What is Milestone Pharmaceuticals Inc.'s free cash flow?

Milestone Pharmaceuticals Inc. (MIST) had negative free cash flow of $51.2M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in MIST back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

See returns →