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Milestone Pharmaceuticals Inc . (NASDAQ:MIST), a pharmaceutical company specializing in the development and commercialization of cardiovascular medicines with a market capitalization of $131.5 million, announced on Monday, March 18, 2025, that it has scheduled its 2025 annual meeting of shareholders for June 10, 2025. The company’s stock has shown remarkable momentum, delivering a 64% return over the past year. According to InvestingPro analysis, the stock currently appears fairly valued based on its Fair Value assessment. The record date for determining shareholders eligible to vote at the meeting is set for April 15, 2025.
The company’s announcement comes as a change from the previous year’s meeting date and is more than 30 days from the anniversary of the 2024 annual meeting. This shift necessitates the filing of this report to notify shareholders of the new meeting date and the deadlines for submitting shareholder proposals and director nominations. InvestingPro data reveals that while the company maintains strong liquidity with a current ratio of 9.1, it faces profitability challenges, with analysts not expecting positive earnings this year.
Shareholders interested in presenting proposals at the upcoming annual meeting must submit their proposals by March 29, 2025, to comply with the Rule 14a-8 of the Securities Exchange Act of 1934. These proposals need to meet all the requirements of the rule to be considered for inclusion in the proxy materials. Additionally, proposals made in accordance with the Business Corporations Act (Québec) and the company’s by-laws must be submitted by April 15, 2025.
Furthermore, in line with the SEC’s universal proxy rules, shareholders planning to solicit proxies in support of director nominees other than the company’s own must notify the company by April 11, 2025, providing all information required by Rule 14a-19 under the Exchange Act.
The location and time of the 2025 annual meeting will be detailed in Milestone Pharmaceuticals’ definitive proxy statement, which will be filed with the Securities and Exchange Commission and available on SEDAR+ in Canada.
This announcement, based on a press release statement, marks an important date for shareholders to exercise their rights and influence the direction of the company for the upcoming year. With a moderate debt level and significant stock price volatility, investors can access 10 additional key insights about MIST through InvestingPro’s comprehensive analysis platform.
In other recent news, Milestone Pharmaceuticals has amended its sales agreement with Jefferies LLC, increasing its common shares offering to $77.8 million. This adjustment allows Milestone (WA:MMD) to issue and sell shares at its discretion, with Jefferies receiving a 3.0% commission on gross proceeds. Additionally, H.C. Wainwright has reiterated a Buy rating on Milestone Pharmaceuticals, maintaining a price target of $25.00. The firm is optimistic about the potential FDA approval of Milestone’s investigational product, CARDAMYST (etripamil), for treating paroxysmal supraventricular tachycardia (PSVT) by March 27, 2025. Milestone has also received a Notice of Allowance for a new patent related to CARDAMYST, which could extend its intellectual property protection in the U.S. until July 2042. This patent covers the repeat dose regimen of CARDAMYST, which showed efficacy in a Phase 3 study. The company is actively preparing for a mid-2025 launch of CARDAMYST, with plans to strengthen its commercial capabilities. Milestone aims to initiate a Phase 3 trial for atrial fibrillation with rapid ventricular rate (AFib-RVR) in early 2025, potentially expanding its market opportunities.
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