MIST Milestone Pharmaceuticals Inc

$MIST Medicaid coverage of Cardamyst is expanding steadily and quietly. Medicaid accounts for 10% of the total PSVT patients (Commercial 45%, Medicare 45%) and normally it pays little but PA hurdles tend to be higher than commercial plans. Based on my own DD, more than half of total Medicaid lives are covered already and CA and TX are the key states to complete Medicaid coverage. Attached the Medicaid coverage map for your reference. Hope your generous understanding if there's any mistake.

$MIST There was no good news for MIST while I was away. No one cares about a super micro cap biotech stock in the early commercial stage. Most covered patients at this moment are eligible for the copay savings program, so they can get the emergency drug for only $25. I think that's an offer a PSVT patient can't refuse, so the current TRx looks unbelievably low and has nowhere to go but up. According to the portfolio holdings of the SURI ETF as of 10/23/2026, the number of MIST shares (3,349,379) held by the ETF has not changed since the end of 2Q, despite the recent drop. SURI is managed in part by Propel Bio, so it's reasonable to guess that Propel may also be holding a significant number of MIST shares.

$MIST holy moly they just had a doctor on CBS This Morning talking about Cardamyst and how great it is ..

$MIST Sorry if someone has posted it. Pavaki actually added more in Sept. can’t wait to see more filings in 2 weeks Pavaki Capital Management LLC reports 2.98% increase in ownership of MIST / Milestone Pharmaceuticals Inc. On October 26, 2026 - Pavaki Capital Management LLC filed a 13F-HR form disclosing ownership of 9,337,848 shares of Milestone Pharmaceuticals Inc. (US:MIST) valued at $8,083,775 USD as of September 30, 2026. The entity filed a previous 13F-HR on August 7, 2026 disclosing 9,067,848 shares of Milestone Pharmaceuticals Inc.. This represents a change in shares of 2.98% during the quarter. The current value of the position is $7,085,559 USD.

$MIST I would buy more today except that would mean I have to log in and see the carnage. Nope, not doing it it.

$MIST Recently, I've noticed that postings about getting and using Cardamyst seem to be appearing more frequently in the largest FB PSVT patient communities. The stories follow a similar pattern - it worked well, some nasal and throat discomfort, confusion about how to use the spray, and wanting to get a refill.

$MIST good news, September was not that bad!TRx did not slow down, there was just a lower number of 90 day supply (prescriptions with 2 refills). Let me explain. Below is the TRx data. Comes from poster who provided it off the Bloomberg terminal and crossed referenced with quarterly reports. Note a steady increase. And the second table is the ratio of EUTrx and TRx. Note that every month it’s different and not 2. Many believe that the difference is the 2 individual sprays in a box but that is not accurate. The real difference is the number of refills given in the script. A 90 day supply is the script + 2 refills = EuTRx of 3. It seems September was just a month where the 90 day prescriptions were low and doctors issued more scripts without, likey an indication of high NRx and low Refills. In fact this could be excellent in that they are new prescribing doctors cautious about giving refills up front.

$MIST The stock has been a horror story for me, but I’m still very bullish, because the product is great and unique. Just need patience, a lot of patience.

$MIST When the Committee for Medicinal Products for Human Use (CHMP) issues a positive opinion for a drug (this week), it means the committee has scientifically concluded that the medicine meets required standards for quality, safety, and efficacy, and that its benefits outweigh its risks. The CHMP formally transmits its positive scientific recommendation and assessment report to the European Commission (EC). The EMA publishes a summary of the opinion on its website (typically on the Friday following the CHMP plenary meeting). Within 67 days of receiving the CHMP's positive opinion, the European Commission typically issues an official Implementing Decision to grant a centralized marketing authorization. Once the European Commission adopts the decision, the marketing authorization becomes legally valid across all 27 EU member states, as well as Iceland, Liechtenstein, and Norway (the European Economic Area / EEA).

$MIST Decision is made these days for EU approval. “Following guidance from the EMA, this MAA incorporates the global clinical data package that supported the U.S. Food and Drug Administration approval of etripamil for the treatment of PSVT,” said Joseph Oliveto, President and Chief Executive Officer of Milestone Pharmaceuticals. “TACHYMIST could become the first approved patient self-administered therapy representing a meaningful step forward in patient care for the approximately two million people suffering from PSVT in Europe.”

$MIST - One of the things I will be interested in seeing with Q3 report is if Everest Medicines bought their inventory for China launch. I noticed that $MIST had increased their product inventory to $4 million dollars reported in the Q2 financials from the $1.8 million after Q1. Everest has to get inventory in place so that they can get the packaging labeled done for the Chinese market. Not sure what a reasonable amount of inventory would be for upfront purchase perhaps $500,000 to $1 Million? Since they announced that news on September 3rd not sure if the transaction would occur in Q3 or would they wait to Q4?

$MIST - volume is so low. I guess everyone jumped off the bus during the 30 plus days of decline. It would be great to see this move up till earnings.

$MIST Here are the script numbers from bloomberg terminal: total 2Q = 1792; July: 551; Aug 599; Sept 642. For Q1 and Q2, the bloomberg numbers accurately tracked what management reported, so I would expect these to track, too.

$MIST We’ve now reached ~400 Cardamyst prescriptions per week. If weekly prescriptions grow at a much more conservative pace of around 2.5% per week, Cardamyst could reach roughly 1,900–2,000 prescriptions per week by the end of 2027, equivalent to an annualized run rate of around 100,000 prescriptions. And remember, insurance coverage is still only around 50%, while Medicare access is expected to ramp gradually starting in Q4. A significant portion of the SVT population is 65+ and Medicare-eligible, leaving substantial room for improved access and continued prescription growth. The future looks very promising, and the investment case remains highly attractive—but patience is the key to success.

$MIST It’s truly worth mentioning that with the NASDAQ standard notice out, there’s no panics selling but buying showing the maturity of the longs here. We may not deserve $3 for now but 200% sure not belong under $1. The whole point of getting in earlier is to get the low base average for long term hold at least paying 20% max to IRS. That’s been my top goal in biotech all the time. The second most important one is RIGHT-sized your holdings. Otherwise it doesn’t mean much when it rips upon good data readout/ FDA news or Buyout announcement… after all the sufferings. Be patient!

$MIST The answer we wanted. Compliance notice was apparently already priced in. Hopefully they can tear that NASDAQ letter UP and toss it in the waste paper basket soon.

$MIST The Facts: Paroxysmal supraventricular tachycardia (PSVT) affects more than 2 million people in the United States. On average, most patients diagnosed with PSVT experience 12 to 15 episodes per year. The condition drives approximately 140,000 to 525,000 emergency department visits and up to 1 million medical claims annually in the U.S. Of the hundreds of thousands of people who go to the Emergency Department for a severe PSVT episode each year, nearly 1 in 4 (24%) are serious enough to require inpatient hospital admission, and another 10% require extended observation stays. This is why worrying about the day to day movement of the stock is a waste of time. Just trust in the statistics to play out for you. 20-30 million episodes a year, approximately 300,000 emergency hospital admissions depending on the year. Just relax and enjoy the highly volatile ride. At the current valuation, the stock price is ridiculous.

$MIST The market is pricing the core operations and pipeline at less than zero, heavily discounting future cash burn or dilution risks. Current $80MM Market cap compares to freely available last reported cash of $170MM . (Twice the value of the stock is in free cash. Cardamyst and Phase III trial are in for free). There is no reason for the company to continue to maintain spend at the current high rate for more than another quarter. In fact, they have many options. They could by back all outstanding stock and take the company private, they could cut promotional spending and extend the Phase III runway, they could continue to spend, grow sales, grow value, do a European deal and then dilute but at a higher valuation. It is amazing how people can give up early, take a tax loss and provide investors with a 10-12x upside over the next two years. Remarkable.

$MIST so much doom and gloom here. You guys are gonna give yourselves ulcers. Chill out until earnings or news. The investment thesis hasn’t changed. Nothing has changed, no news…certainly no bad news. For what it’s worth Per GPT: Who is buying and selling? The Q2 filings show substantial activity among specialist biotech investors and multi-strategy hedge funds.  Major position increases Point72 Asset Management: +4.33 million shares Propel Bio Management: +3.31 million Simplify Asset Management: +1.84 million Millennium Management: +1.60 million RTW Investments: +1.50 million That’s 10m net add quarter over quarter or 27% increase. No reason to think anyone has been dumping since then either.

$MIST People keep banging on about lack of sales. Sales are growing month by month and that growth will accelerate. All companies launching a product tend to have low sales when they start out. All companies launching a product tend to have high launch costs which recede over time. What really matters with any product is "word of mouth" and in Cardamyst's respect, this appears to me more than just good. Therefore all these miserable posters should relax and enjoy the hockey stick. It will happen. You've just got to be patient. Even if it half happens, the value to a potential big pharma buyer is enormous.