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Milestone Pharmaceuticals Inc . (NASDAQ:MIST) stock has experienced a notable downturn, reaching $0.77. While the stock shows high volatility with a beta of 1.84, InvestingPro data reveals the company maintains strong liquidity with a current ratio of 9.1. Despite the recent dip, the company’s performance over the past year tells a more positive story, with a 1-year change showing an overall increase of 25.7%. This contrast highlights the volatile nature of the market and the specific challenges that may have influenced Milestone (WA:MMD)’s short-term stock price movement. According to InvestingPro, the company has demonstrated significant recent momentum with an 18.42% return in just the last week. Investors are closely monitoring the company’s progress and potential catalysts that could drive recovery and growth in the coming months. With a market capitalization of $149.1 million and more cash than debt on its balance sheet, the company maintains a stable financial foundation. InvestingPro subscribers can access 10+ additional exclusive insights about MIST’s financial health and growth prospects.
In other recent news, Milestone Pharmaceuticals Inc . received a Complete Response Letter from the U.S. Food and Drug Administration regarding its New Drug Application for CARDAMYST™ (etripamil) nasal spray. The FDA highlighted issues related to Chemistry, Manufacturing, and Controls, specifically concerning nitrosamine impurities and the need for an inspection of a facility involved in release testing. Milestone plans to address these issues and is seeking a Type A meeting with the FDA to discuss a path forward for resubmission. Additionally, Milestone has expanded its sales agreement with Jefferies LLC, increasing its common shares offering to $77.8 million. This agreement allows the company to issue and sell shares at its discretion, with Jefferies receiving a commission on the sales. In analyst news, H.C. Wainwright maintained a Buy rating on Milestone, with a $25 price target, citing the potential approval of CARDAMYST by March 2025 as a significant driver. The firm highlighted the drug’s potential to transform the management of paroxysmal supraventricular tachycardia and its broader market opportunities. Furthermore, Milestone has scheduled its 2025 annual meeting of shareholders for June 10, 2025, with the record date set for April 15, 2025.
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