Milestone enrolls first patient: analysts rate Milestone Pharmaceuticals stock Moderate Buy

Published on 10/06/2026 at 13:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Milestone enrolled a Canadian patient in a Phase 3 trial targeting 150 AFib-RVR events. Seven analysts rate Milestone Pharmaceuticals stock Moderate Buy.

MIST, CA59935V1076, Illustration mit AI erstellt.

Milestone Pharmaceuticals (CA59935V1076) enrolled the first Canadian patient in its ReVeRA-301 Phase 3 trial on September 24, 2026, expanding the study of etripamil for atrial fibrillation with rapid ventricular rate. GlobeNewswire reported that the Montreal Heart Institute became the first Canadian site and that the multinational trial targets 150 treated AFib-RVR events.

ReVeRA-301 targets 150 events

The study evaluates a 70 mg repeat-dose regimen of etripamil nasal spray, the same regimen used for Milestone's U.S. Food and Drug Administration-approved CARDAMYST treatment for paroxysmal supraventricular tachycardia. The primary endpoint measures ventricular-rate reduction within 30 minutes, while a secondary endpoint tracks symptom improvement through patient-reported outcomes.

The Canadian enrollment broadens a trial already operating in the United States and gives Milestone a second national setting for its Phase 3 development program. The company is pursuing a single-study supplemental new drug application pathway for AFib-RVR, subject to the trial's results and regulatory review, according to the September 24 release from GlobeNewswire.

Revenue trails quarterly expectations

Milestone's second-quarter 2026 results show the financial burden of commercial and clinical expansion. MarketBeat reported a quarterly loss of USD 0.21 per share against a USD 0.20 consensus loss and revenue of USD 0.56 million against an USD 0.82 million estimate. The comparison points to execution pressure even as the pipeline advances.

The same MarketBeat report said seven firms covered the stock, with one sell, one hold, four buy and one strong buy rating. Their average 12-month price target was USD 6.40, while H.C. Wainwright maintained a buy rating with an USD 8.00 target on September 3, 2026.

Market capitalization stands at USD 97.0 million

Milestone Pharmaceuticals had a market capitalization of USD 97.0 million as of October 5, 2026. The valuation remains tied to CARDAMYST commercialization and the probability that ReVeRA-301 can expand etripamil into AFib-RVR, making enrollment progress and future clinical data central to the stock's investment case.