Milestone Pharmaceuticals Inc . (NASDAQ:MIST) stock soared to a 52-week high of $2.42, reflecting a robust upward trend backed by investor confidence. The stock's impressive momentum is evident in its recent gains, with a 21.62% surge in the past week and a remarkable 70.45% climb over the last six months. While the company maintains a strong balance sheet with more cash than debt, InvestingPro analysis indicates the stock may be in overbought territory. This technical signal, along with 14 additional ProTips available on InvestingPro, provides crucial insights for investors monitoring MIST's future trajectory.
In other recent news, Milestone Pharmaceuticals has seen a flurry of activity. The company's leading product candidate, etripamil, has been the subject of positive discussions by key opinion leaders at a recent event, focusing on its potential in the treatment of paroxysmal supraventricular tachycardia (pSVT) and atrial fibrillation (AFib). Analyst firms TD Cowen and H.C. Wainwright have maintained their Buy ratings on Milestone (WA:MMD), with TD Cowen projecting etripamil could reach peak sales of approximately $441 million by 2033.
Milestone Pharmaceuticals also reported positive results from Phase 3 clinical trials of etripamil. The trials showed a statistically significant greater percentage of patients achieving normal sinus rhythm within 30 minutes when treated with etripamil compared to those who received a placebo. Further, the company has reached a significant regulatory milestone with the acceptance of the New Drug Application (NDA) for etripamil in the treatment of pSVT, scheduled for a review by the U.S. Food and Drug Administration (FDA) in March 2025.
In partnership with Ji Xing Pharmaceuticals, Milestone reported positive results from a Phase 3 trial in China for its etripamil nasal spray, resulting in an upfront payment of $15 million and a $5 million equity investment. Additionally, Milestone has appointed Stuart Duty and Andrew Saik as independent directors as part of a board refreshment strategy and entered into a Cooperation Agreement with Alta Fundamental Advisers LLC.
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