NMPA Approves Etripamil Nasal Spray in China, Triggering $2M Milestone
MIST sits 23% above its 52-week low of $1.
Summary
Milestone Pharmaceuticals announced that China's NMPA approved etripamil nasal spray for PSVT, marking the first regulatory approval outside the U.S. The approval triggers a $2 million milestone payment to Milestone under its agreement with Everest Medicines, which holds exclusive rights in Greater China. The company is eligible for up to $98 million in additional milestones and up to 18% royalties in the region. This expands the commercial opportunity for etripamil into a major market and provides near-term cash. The news follows the recent launch of CARDAMYST in the U.S. and the start of the ReVeRA-301 Phase 3 trial for atrial fibrillation.
At the time of this announcement, MIST was trading at $1.23 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $153M. The 52-week trading range was $1.00 to $3.06. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.