MIST

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Milestone Pharmaceuticals Inc.

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Key Metrics

Previous Close: $1.08
52-Week Range: $1.00 – $3.06
Market Cap: $128.23M
P/E (TTM): —
EPS (TTM): -0.62
Dividend Yield: —

Advanced Metrics

Price/Book: 3.83
PEG Ratio: —
Return on Equity: -35522.62%
Return on Assets: -42.78%
Gross Margin: 98.04%
Operating Margin: -4584.97%
Profit Margin: 0.00%
Current Ratio: 8.13
Debt/Equity: 7.79
Total Debt: $141.83M
Free Cash Flow: $-41.69M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $116.36M

MIST Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$5.00M	$1.00M	$0.00	$1.55M
Research & Development	$39.83M	$31.05M	$14.36M	$18.11M
Selling, General & Admin	$24.81M	$31.05M	$27.75M	$45.58M
Operating Expenses	$64.64M	$62.10M	$42.10M	$63.69M
Operating Income	-$59.64M	-$61.10M	-$42.10M	-$62.14M
EBITDA	-$58.30M	-$57.04M	-$37.83M	-$59.11M
Pretax Income	-$58.39M	-$59.69M	-$41.52M	-$63.06M
Net Income	-$58.39M	-$59.69M	-$41.52M	-$63.06M
Diluted EPS	-1.38	-1.39	-0.67	-0.75
Diluted Shares	42.45M	42.96M	62.21M	83.88M

MIST Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$7.64M	$13.76M	$25.31M	$73.05M
Receivables	$1.21M	$3.85M	$2.39M	$3.51M
Inventory	—	—	$0.00	$648.00K
Current Assets	$71.80M	$73.03M	$73.93M	$111.92M
Total Assets	$74.48M	$75.23M	$75.50M	$113.56M
Current Liabilities	$6.14M	$7.23M	$8.13M	$13.98M
Long-Term Debt	—	$49.77M	$53.35M	$57.19M
Total Debt	$2.49M	$51.77M	$54.80M	$58.38M
Total Liabilities	$8.13M	$58.45M	$62.35M	$71.79M
Retained Earnings	-$266.34M	-$326.03M	-$367.55M	-$430.60M
Shareholders' Equity	$66.35M	$16.77M	$13.15M	$41.77M
Working Capital	$65.66M	$65.81M	$65.80M	$97.94M
Net Debt	—	$36.01M	$28.04M	—

MIST Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$52.47M	-$46.42M	-$28.85M	-$49.04M
Capital Expenditure	-$272.00K	-$112.00K	-$33.00K	-$302.00K
Free Cash Flow	-$52.74M	-$46.54M	-$28.88M	-$49.34M
Depreciation & Amortisation	$89.00K	$92.00K	$105.00K	$114.00K
Stock-Based Compensation	$9.05M	$9.53M	$5.78M	$7.46M
Investing Cash Flow	-$57.12M	$4.76M	$8.28M	$11.25M
Financing Cash Flow	$3.09M	$47.79M	$32.12M	$85.53M
Net Change in Cash	-$106.50M	$6.12M	$11.55M	$47.73M

MIST Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$1.55M	$238.00K
Cost of Revenue	$0.00	—	—	—	$14.00K
Gross Profit	$0.00	—	—	—	$224.00K
Research & Development	$4.98M	$3.67M	$3.94M	$5.52M	$3.25M
Selling, General & Admin	$15.54M	$8.86M	$7.89M	$13.28M	$20.64M
Operating Expenses	$20.52M	$12.53M	$11.83M	$18.80M	$23.89M
Operating Income	-$20.52M	-$12.53M	-$11.83M	-$17.26M	-$23.66M
EBITDA	-$19.80M	-$11.99M	-$10.93M	-$16.39M	-$21.88M
Pretax Income	-$20.76M	-$12.97M	-$11.92M	-$17.41M	-$26.07M
Net Income	-$20.76M	-$12.97M	-$11.92M	-$17.41M	-$26.07M
Diluted EPS	-0.31	-0.20	-0.12	—	-0.20
Diluted Shares	66.29M	66.38M	96.49M	—	130.29M

MIST Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$45.09M	$42.50M	$46.69M	$73.05M	$71.32M
Receivables	$2.16M	$2.00M	$1.51M	$3.51M	$5.00M
Inventory	—	—	—	$648.00K	$1.83M
Current Assets	$60.48M	$46.17M	$86.67M	$111.92M	$192.25M
Total Assets	$61.88M	$47.42M	$87.75M	$113.56M	$193.73M
Current Liabilities	$12.96M	$9.28M	$10.52M	$13.98M	$20.94M
Long-Term Debt	$54.29M	$55.24M	$56.21M	$57.19M	$58.19M
Total Debt	$55.59M	$56.39M	$57.21M	$58.38M	$59.22M
Total Liabilities	$68.01M	$65.16M	$67.25M	$71.79M	$157.69M
Retained Earnings	-$388.31M	-$401.27M	-$413.19M	-$430.60M	-$456.67M
Shareholders' Equity	-$6.12M	-$17.75M	$20.50M	$41.77M	$36.05M
Working Capital	$47.51M	$36.88M	$76.15M	$97.94M	$171.31M
Net Debt	$9.20M	$12.74M	$9.52M	—	—

MIST Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$13.95M	-$12.57M	-$9.75M	-$12.78M	-$16.05M
Capital Expenditure	-$6.00K	-$11.00K	-$2.00K	-$283.00K	-$45.00K
Free Cash Flow	-$13.96M	-$12.58M	-$9.75M	-$13.06M	-$16.10M
Depreciation & Amortisation	$27.00K	$28.00K	$25.00K	$34.00K	$56.00K
Stock-Based Compensation	$1.35M	$1.31M	$1.25M	$3.55M	$1.28M
Investing Cash Flow	$33.58M	$9.94M	-$34.98M	$2.70M	-$80.03M
Financing Cash Flow	$140.00K	$36.00K	$48.92M	$36.43M	$94.35M
Net Change in Cash	$19.77M	-$2.59M	$4.19M	$26.36M	-$1.73M

Market Snapshot

About

Milestone Pharmaceuticals is a biopharmaceutical company developing treatments for cardiovascular conditions, particularly cardiac arrhythmias. The company focuses on therapies for paroxysmal supraventricular tachycardia and other heart rhythm disorders.