Milestone Pharmaceuticals Plans $52.5M Public Offering for PSVT Treatment

Milestone Pharmaceuticals has priced an underwritten public offering to raise approximately $52.5 million through the sale of 31.5 million common shares along with Series A and B common warrants at $1.50 per share, and an additional 3.5 million pre-funded warrants at $1.499 each. The offering, expected to close around July 14, 2025, is subject to customary closing conditions and is managed by TD Cowen, Piper Sandler & Co., Wells Fargo Securities, and H.C. Wainwright & Co. Proceeds from the offering will be used to fund the clinical development and commercial launch of Milestone's lead drug, etripamil, targeting paroxysmal supraventricular tachycardia, as well as for general corporate purposes and working capital. The company’s stock is currently trading with an average analyst target price implying a potential upside of over 100%, and brokerage firms rate the stock as an 'Outperform.' The offering includes common shares, warrants, and pre-funded warrants, providing investors flexibility in participation. Milestone intends to leverage both the new capital and existing cash reserves to advance its cardiovascular medicine pipeline.