Milestone Pharmaceuticals prices $52.5 million public offering

Milestone Pharmaceuticals Inc. (NASDAQ: MIST) announced the pricing of its underwritten public offering at $52.5 million before deducting underwriting commissions and offering expenses.

The biopharmaceutical company will issue 31.5 million common shares along with accompanying Series A and Series B common warrants at a combined public offering price of $1.50 per share and warrants. The offering also includes pre-funded warrants to purchase 3.5 million common shares with accompanying warrants at $1.499 per warrant package.

Each Series A and Series B common warrant will allow the purchase of one common share. The pre-funded warrants carry a $0.001 exercise price per share.

The offering is expected to close on or about July 14, 2025, subject to customary closing conditions.

Milestone stated it intends to use the net proceeds along with existing cash to fund clinical development and commercial launch of etripamil for paroxysmal supraventricular tachycardia, as well as for working capital and general corporate purposes.

TD Cowen, Piper Sandler & Co. and Wells Fargo Securities are serving as joint book-running managers for the offering, while H.C. Wainwright & Co. is acting as lead manager.

The securities are being offered under a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on November 22, 2024.

The Montreal and Charlotte-based company recently submitted a New Drug Application to the FDA for etripamil for treatment of paroxysmal supraventricular tachycardia, according to the press release.

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