MIST - Milestone Pharma receives $125M financing to support etripamil development

2023-03-28 12:59:07 ET

• Milestone Pharma ( NASDAQ: MIST ) is trading 11.1% higher after a $125M strategic funding agreement with RTW Investments and certain of its affiliates.
• The company said proceeds from the financing, together with $64.6M of cash as of December 31, are expected to fund milestone's operations into the middle of 2025, including the potential approval and launch of etripamil.
• Etripamil is for patients with paroxysmal supraventricular tachycardia (PSVT) attacks outside the emergency department.
• The company expects to submit a marketing application to the U.S. Food and Drug Administration in the third quarter of 2023 for etripamil.
• The financing was anchored by RTW's purchase of $50M in convertible notes, as well as a commitment of $75M in non-dilutive royalty funding.
• Press Release

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