Milestone reports Q3 operating loss $14.6M; Phase 3 RAPID trial meets primary efficacy endpoint

Milestone Pharmaceuticals Inc.

2022-Q3 EPS reported -$1.07

Phase 3 RAPID trial met primary endpoint: 64.3% etripamil vs 31.2% placebo conversion to sinus rhythm within 30 min (HR=2.62, p<0.001).
Additional AHA data: conversion rates ~74% at 60 min, ~80% at 90 min; median time to conversion 17.2 min for etripamil.
Company plans to submit NDA for etripamil in PSVT to FDA in mid-2023, pending agency feedback.
Cash, cash equivalents, and short-term investments $77.2M as of Sept 30, 2022; expected to fund operations through 2023.
Successful RAPID results triggered $3.5M milestone payment from partner Ji Xing; total potential milestones up to $107.5M in Greater China.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Milestone Pharmaceuticals Inc. reported the third quarter ended September 30, 2022 results: revenue $1.5 million.

Period: the third quarter ended September 30, 2022
Revenue: $1.5 million
Result: reported results

Exact text from the filing

We generated revenue of $1.5 million from milestone payments under the License Agreement for the three months and nine months ended September 30, 2022 compared to no revenue in the three months ended September 30, 2021 and revenue of $15 million from upfront payments under the License Agreement during the nine months ended September 30, 2021.

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Source: SEC EDGAR

accession 0001104659-22-117099

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