Milestone Pharmaceuticals stock reports China approval for CARDAMYST

Published on 09/29/2026 at 18:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Milestone Pharmaceuticals stock follows a China approval that triggers a USD 2.00 million payment on September 3, 2026. Q2 revenue reached USD 559,000.

MIST, US60041A1025, Illustration mit AI erstellt.

Milestone Pharmaceuticals (ISIN US60041A1025) secured a China regulatory milestone for CARDAMYST on September 3, 2026, creating a USD 2.00 million payment event for the commercial-stage biotech. The company is expanding a product launch while funding a second Phase 3 program in atrial fibrillation.

China approval adds milestone revenue

According to Milestone Pharmaceuticals on September 3, 2026, China's National Medical Products Administration approved etripamil nasal spray for adults with paroxysmal supraventricular tachycardia. The decision was the first approval for etripamil outside the United States and triggers USD 2.00 million from partner Everest Medicines.

The Greater China license also gives Milestone eligibility for up to USD 98.0 million in commercial and development milestones, plus tiered royalties of up to 18 percent on future sales. The approval therefore adds a quantified commercial opportunity beyond the initial payment.

Q2 launch figures remain early

StockTitan reported that Milestone generated USD 559,000 in product revenue in Q2 2026 and USD 797,000 in the first six months of 2026. Q2 net loss reached USD 28.6 million, compared with USD 26.1 million in Q1 2026, while diluted loss per share was USD 0.21 versus USD 0.20.

The balance sheet showed USD 169.7 million in cash on June 30, 2026, compared with USD 71.3 million on March 31, 2026. Operating cash flow was negative USD 22.7 million in Q2, a figure that puts the commercialization pace and clinical spending in the same investor calculation.

AFib program raises the stakes

At a September 15, 2026 conference, Investing.com reported that Milestone had enrolled the first patient in its Phase 3 AFib-RVR trial and expected data on a two-year timeline. Management also said cash was expected to last into the second half of 2027, linking the China milestone and CARDAMYST launch to the funding runway.

On September 29, 2026, Milestone Pharmaceuticals had a Nasdaq market capitalization of USD 100.5 million. Its 52-week Nasdaq range was USD 0.75 to USD 3.06, placing the market value in the context of a volatile commercial launch and an expanding clinical pipeline.

Commercial stage meets clinical risk

Milestone's investment case now rests on two measurable paths: converting CARDAMYST approval into product revenue and advancing etripamil into AFib-RVR. The Q2 revenue of USD 559,000 remains small beside the USD 28.6 million quarterly net loss, while the China approval adds a defined payment and longer-term royalty potential.