Milestone Pharmaceuticals Announces Pricing of Public Offering and Clinical Development Plans for Etripamil

Strategic Insights -

Milestone Pharmaceuticals Inc, a biopharmaceutical company focused on cardiovascular medicines, has announced the pricing of its underwritten public offering, which is expected to raise approximately $52.5 million. The company plans to use the proceeds, along with existing cash and cash equivalents, to fund the clinical development and commercial launch of its lead indication etripamil in paroxysmal supraventricular tachycardia (PSVT). The company has partnered with joint book-running managers TD Cowen, Piper Sandler & Co., and Wells Fargo Securities, and lead manager H.C. Wainwright & Co. for the offering. The securities are being offered under a shelf registration statement filed with the SEC and will be available on the SEC's website.

Key Takeaways:

  • Milestone Pharmaceuticals has announced the pricing of its underwritten public offering, which includes the issuance of 31,500,000 common shares, 31,500,000 Series A common warrants, and 31,500,000 Series B common warrants.
  • The offering is expected to raise approximately $52.5 million, before deducting underwriting commissions and offering expenses.
  • The company plans to use the net proceeds from the offering to fund the clinical development and commercial launch of etripamil in its lead indication of PSVT.
  • The partnership with joint book-running managers TD Cowen, Piper Sandler & Co., and Wells Fargo Securities, and lead manager H.C. Wainwright & Co. will facilitate the offering.
  • The securities described above are being offered under a shelf registration statement on Form S-3 (File No. 333-283162) that was declared effective by the U.S. Securities and Exchange Commission on November 22, 2024.
  • The prospectus supplement and accompanying prospectus can be obtained from the SEC and the underwriting managers.
  • The offering is not open to the public and is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement.

Statistics:

  • 31,500,000 common shares to be issued
  • 31,500,000 Series A common warrants to be issued
  • 31,500,000 Series B common warrants to be issued
  • Approximately $52.5 million to be raised, before deducting underwriting commissions and offering expenses
  • Clinical development of etripamil in PSVT to be funded using the net proceeds
  • Public offering expected to close on or about July 14, 2025

Sources:

  • "Milestone Pharmaceuticals Inc." press release, issued by Milestone Pharmaceuticals Inc.
  • "SEC Form S-3" (File No. 333-283162)
  • "SEC website" (www.sec.gov)