---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-032427"
form_type: "8-K"
ticker: "MIST"
cik: "0001408443"
company_name: "Milestone Pharmaceuticals Inc."
filed_at: "2026-03-20T23:59:59+00:00"
generated_at: "2026-05-15T09:28:27.211466+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Milestone Pharma FY2025 net loss $63.1M; CARDAMYST launch on track; cash runway into late 2027

## Summary
- Net loss of $63.1M ($0.75 per share) for FY2025 vs $41.5M ($0.67) prior year.
- Revenue of $1.5M from CARDAMYST FDA approval milestone under Corxel agreement.
- Commercial expense $28.3M for FY2025; 60-person sales force deployed mid-Feb.
- Pro forma cash $200M including $75M RTW payment and $19M ATM/warrant exercises; runway to late 2027.
- EMA accepted MAA for etripamil; decision expected H1 2027.

## SEC filing metadata
- accession: 0001104659-26-032427
- form_type: 8-K
- ticker: MIST
- cik: 0001408443
- company_name: Milestone Pharmaceuticals Inc.
- filed_at: 2026-03-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1408443/000110465926032427/0001104659-26-032427-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1408443/000110465926032427/tm269403d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-032427
- JSON: https://secwatch.observer/filing/0001104659-26-032427.json
- Plain text: https://secwatch.observer/filing/0001104659-26-032427.txt

## Key facts
- Earnings Releases
  Milestone Pharmaceuticals Inc. reported financial results for the fourth quarter and fiscal year ended December 31, 2025.
  - Period: the fourth quarter and fiscal year ended December 31, 2025
  - Result: reported results
  source text: On March 20, 2026, Milestone Pharmaceuticals Inc. issued a press release announcing its financial results for the fourth quarter and fiscal year ended December 31, 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/1408443/000110465926032427/0001104659-26-032427-index.htm

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