Milestone restructures and lengthens funding horizon as CARDAMYST sales hit $1.0m

Milestone Pharmaceuticals booked $1.0 million in net revenue from CARDAMYST (etripamil nasal spray) in the third quarter, a 73% increase on the previous quarter. The product is cleared by the US Food and Drug Administration for paroxysmal supraventricular tachycardia (PSVT). The company reported the figures on 13 November 2026. The absolute sales level remains modest.

Commercial insurers covering roughly two-thirds of insured lives now include the spray, the company said. It gave no split by payer, so it is unclear which plans or channels account for that share.

Alongside the quarter, Milestone unveiled a restructuring that it says reduces operating costs by about 30% and stretches its financing into late 2028. The plan moves the company's sales team of about 45 people in-house and shrinks the head-office workforce. The chief financial officer and chief medical officer are both departing.

Milestone has also changed the terms of a convertible note held by RTW. Interest on the note will continue to be paid in kind, meaning it is added to the principal rather than settled in cash, until March 2029.

On the pipeline, the Phase 3 ReVeRA-301 study of etripamil in atrial fibrillation with rapid ventricular rate is still on track, with topline results due in the second half of 2028. That window overlaps with the period the company says its funding now covers.