Why Milestone Pharmaceuticals (MIST) Stock Is Rising
Portfolio Pulse from Henry Khederian
Milestone Pharmaceuticals Inc (NASDAQ:MIST) stock rose 19.4% to $2.03 after announcing plans to resubmit the NDA for etripamil to the FDA for PSVT treatment. The FDA did not request additional clinical trials, and the company expects to fund operations until mid-2025 with existing cash reserves. A $75 million payment is anticipated under a royalty agreement if etripamil is approved.
February 26, 2024 | 2:50 pm
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Milestone Pharmaceuticals' stock rose after announcing plans to resubmit the NDA for etripamil, with no additional clinical trials requested by the FDA. The company expects to fund operations until mid-2025 and anticipates a $75 million payment if etripamil is approved.
The positive market reaction is likely due to the FDA not requiring additional clinical trials for etripamil, a key factor in reducing time and financial resources needed for drug approval. The anticipation of a $75 million payment upon approval further boosts investor confidence in the company's financial stability and future revenue prospects.
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IMPORTANCE 90
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