---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-109744"
form_type: "8-K"
ticker: "MIST"
cik: "0001408443"
company_name: "Milestone Pharmaceuticals Inc."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T20:59:44.419835+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Milestone reports Q3 net loss $11.9M; PDUFA target Dec 13 for CARDAMYST in PSVT

## Summary
- Cash, equivalents and short-term investments $82.6M at Sept 30, up from $69.7M at Dec 31, 2024.
- Net loss Q3 $11.9M vs $9.4M a year ago; no revenue reported in either period.
- Commercial expense surged to $4.6M (Q3) from $1.9M on launch prep for potential FDA approval.
- NDA for CARDAMYST (etripamil) under FDA review; PDUFA action date December 13, 2025.
- Completed $48.7M equity offering and amended Royalty Purchase Agreement securing $75M upon approval.

## SEC filing metadata
- accession: 0001104659-25-109744
- form_type: 8-K
- ticker: MIST
- cik: 0001408443
- company_name: Milestone Pharmaceuticals Inc.
- filed_at: 2025-11-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1408443/000110465925109744/0001104659-25-109744-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1408443/000110465925109744/tm2530945d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-109744
- JSON: https://secwatch.observer/filing/0001104659-25-109744.json
- Plain text: https://secwatch.observer/filing/0001104659-25-109744.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.