MIST

Milestone Pharmaceuticals' stock has experienced a significant decline, losing approximately 40% since June 30, 2026, and a 57.77% decline from October 1, 2025, to September 30, 2026. Key events impacting the stock price include the Q2 2026 financial results, which reported a wider-than-expected net loss of $28.6 million and missed revenue estimates, leading to an 11.42% stock decline. Slower-than-anticipated CARDAMYST commercialization, despite increasing prescriptions and expanded coverage, and weak differentiation against cheaper alternatives, also contributed to the stock's decline. The Q1 2026 financial results, marking the first quarter of CARDAMYST sales with $0.2 million in product revenues, disappointed investors, causing a 9% drop on the announcement day and a 26% drop since the report. Positive developments included China's NMPA approval for etripamil nasal spray on September 3, 2026, which triggered a $2.0 million milestone payment and expanded the drug's global footprint. Additionally, the pivotal Phase 3 ReVeRA-301 trial for etripamil nasal spray in AFib-RVR was initiated, with patient enrollment beginning in H2 2026 and expanding to Canada and Europe.