Milestone Reports Q3 2026 Results with Significant Revenue Growth and Extended Cash Runway
Milestone reported strong third-quarter growth for its product CARDAMYST, with net product revenue reaching $1.0 million, a 73% increase from the previous quarter. The company saw a 50% sequential rise in quarterly prescriptions to 1,800 and expanded commercial payer coverage to approximately two-thirds of covered lives. Despite these gains, Milestone reported a net loss of $25.8 million for the quarter due to increased launch-related selling, general, and administrative expenses. To improve profitability, management is implementing aggressive cost-efficiency measures, including transitioning sales representatives to an in-house model and reducing total operating expenses by an anticipated 30% by early 2027. Crucially, the company's cash position has strengthened to $145.4 million, extending its operating cash runway into late 2028, which provides more than a year of additional liquidity beyond previous guidance.
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Topics: commercial coverage operating expenses prescription volume revenue growth