Dell falls as soft current quarter guide offsets Q2 beat, full-year outlook lift
Milestone Pharmaceuticals Inc . (NASDAQ:MIST) stock has hit a 52-week low, trading at $0.7, as the company faces a challenging market environment. According to InvestingPro data, the stock’s RSI indicates oversold territory, while analyst price targets range from $1 to $10. This new low comes as a significant downturn for the pharmaceutical company, which has seen its stock price erode over the past year. The 1-year change data paints a stark picture, with Milestone Pharmaceuticals Inc . experiencing a substantial decline of -61.28% in its stock value. Despite the decline, the company maintains a strong liquidity position with a current ratio of 9.1 and more cash than debt on its balance sheet. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 13 additional ProTips available for subscribers. Investors are closely monitoring the company’s performance and potential market catalysts that could influence its future stock trajectory. With a market capitalization of $46.19 million and a beta of 1.84, the stock has shown significant volatility compared to the broader market.
In other recent news, Milestone Pharmaceuticals has faced significant developments impacting its business operations. The company received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) concerning its New Drug Application (NDA) for CARDAMYST™ (etripamil) nasal spray, intended for treating paroxysmal supraventricular tachycardia (PSVT). The FDA’s letter cited issues related to Chemistry, Manufacturing, and Controls, requiring additional information on nitrosamine impurities and an inspection of a facility involved in release testing. This regulatory setback led TD Cowen to downgrade Milestone Pharmaceuticals’ stock rating from Buy to Hold, reflecting uncertainties in the drug’s commercial launch and the company’s financial constraints.
Additionally, Milestone Pharmaceuticals reported having $69.7 million in cash, cash equivalents, and short-term investments as of December 31, 2024. In a move to bolster its financial position, the company has expanded its sales agreement with Jefferies LLC, increasing its common shares offering to $77.8 million. This amendment allows Milestone (WA:MMD) to issue and sell shares at its discretion through the financial services firm. Furthermore, the company announced its 2025 annual meeting of shareholders, scheduled for June 10, 2025, with a record date for voting eligibility set for April 15, 2025. These recent developments highlight Milestone Pharmaceuticals’ ongoing efforts to address regulatory challenges and strengthen its financial foundation.
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