A key highlight of the report was the FDA approval of CARDAMYST™ (etripamil) nasal spray, which represents the first new treatment option for paroxysmal supraventricular tachycardia (PSVT) in over 30 years. The product was launched in January 2026, and initial engagement from healthcare providers and payers has been positive. Clinical studies indicated that participants using CARDAMYST were twice as likely to convert symptomatic PSVT to sinus rhythm compared to placebo, and they did so more than three times faster.
The company also announced a robust cash runway, supported by $200 million in pro forma cash, which includes net proceeds from financing activities. This financial backing is expected to facilitate the ongoing commercial launch of CARDAMYST and operational activities into late 2027.
Milestone's leadership expressed optimism about the product's market potential, with CEO Joseph Oliveto stating, "Feedback from prescribers supports our belief that there is meaningful demand for a convenient, self-administered option to treat episodes of PSVT."
In addition to the launch of CARDAMYST, Milestone is also advancing its pipeline, with plans for a Phase 3 program for etripamil in patients with atrial fibrillation with rapid ventricular rate (AFib-RVR). The company aims to leverage its initial PSVT indication to support this new indication.
Overall, while the financial results reflect ongoing challenges, the positive developments surrounding CARDAMYST's launch and the company's strategic outlook suggest a potential for growth and improved market positioning in the coming years.
