NASDAQ : MIST
Milestone Pharmaceuticals Inc. — Financial statements
Healthcare · Biotechnology · Canada
Last price 0.73 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 102.86M
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Financial statements
Milestone Pharmaceuticals Inc. (MIST) reported revenue of 2.34M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.34M | 1.55M | 1.00M | 5.00M | 15.00M | |
| Gross Profit | 2.30M | 1.55M | 1.00M | 5.00M | 15.00M | |
| Selling, General & Admin | 64.45M | 45.58M | 27.75M | 31.05M | 24.81M | 19.40M |
| Research & Development | 16.22M | 18.11M | 14.36M | 31.05M | 39.83M | 38.67M |
| Operating Expenses | 80.68M | 63.69M | 42.10M | 62.10M | 64.64M | 58.07M |
| Operating Income | -78.38M | -62.14M | -42.10M | -61.10M | -59.64M | -43.07M |
| Interest Expense | -10.81M | -3.84M | -3.58M | -2.55M | ||
| Interest & Investment Income | 5.18M | 2.92M | 4.16M | 3.97M | 1.25M | 220.00K |
| Pretax Income | -84.01M | -63.06M | -41.52M | -59.69M | -58.39M | -42.85M |
| Net Income | -84.01M | -63.06M | -41.52M | -59.69M | -58.39M | -42.85M |
| Net Income to Common | -84.01M | -63.06M | -41.52M | -59.69M | -58.39M | -42.85M |
| Shares Outstanding (Basic) | 117.97M | 83.88M | 62.21M | 42.96M | 42.45M | 41.83M |
| Shares Outstanding (Diluted) | 117.97M | 83.88M | 62.21M | 42.96M | 42.45M | 41.83M |
| EPS (Basic) | -0.71 | -0.75 | -0.67 | -1.39 | -1.38 | -1.02 |
| EPS (Diluted) | -0.71 | -0.75 | -0.67 | -1.39 | -1.38 | -1.02 |
| Free Cash Flow | -61.65M | -49.34M | -28.88M | -46.54M | -52.74M | -33.22M |
| Free Cash Flow Per Share | -0.52 | -0.59 | -0.46 | -1.08 | -1.24 | -0.79 |
| Gross Margin | 98.04% | 100.00% | 100.00% | 100.00% | 100.00% | |
| Operating Margin | -3,345.24% | -4,019.40% | -6,109.80% | -1,192.84% | -287.15% | |
| Profit Margin | -3,585.62% | -4,078.78% | -5,968.50% | -1,167.76% | -285.69% | |
| Free Cash Flow Margin | -2,631.07% | -3,191.66% | -4,653.60% | -1,054.82% | -221.49% | |
| EBITDA | -78.21M | -62.03M | -42.00M | -61.01M | -59.55M | -42.98M |
| EBITDA Margin | -286.53% | |||||
| D&A For EBITDA | 172.00K | 114.00K | 105.00K | 92.00K | 89.00K | 93.00K |
| EBIT | -78.38M | -62.14M | -42.10M | -61.10M | -59.64M | -43.07M |
| EBIT Margin | -287.15% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 169.73M | 73.05M | 25.31M | 13.76M | 7.64M | 114.14M |
| Short-Term Investments | 881.00K | 32.91M | 44.38M | 52.24M | 56.95M | |
| Cash & Short-Term Investments | 170.61M | 105.96M | 69.69M | 66.00M | 64.58M | 114.14M |
| Other Receivables | 1.24M | 3.51M | 1.72M | 1.45M | 1.21M | 483.00K |
| Receivables | 3.96M | 3.51M | 1.72M | 1.45M | 1.21M | 483.00K |
| Inventory | 4.72M | 648.00K | ||||
| Prepaid Expenses | 1.03M | 1.80M | 1.84M | 3.18M | 6.00M | 4.30M |
| Other Current Assets | 674.00K | 2.40M | ||||
| Total Current Assets | 180.33M | 111.92M | 73.93M | 73.03M | 71.80M | 118.92M |
| Property, Plant & Equipment | 1.30M | 1.64M | 1.57M | 2.19M | 2.68M | 926.00K |
| Total Assets | 181.62M | 113.56M | 75.50M | 75.23M | 74.48M | 119.85M |
| Accounts Payable | 8.45M | 5.64M | 1.93M | 3.98M | 2.26M | 4.38M |
| Accrued Expenses | 10.48M | 6.34M | 5.62M | 2.70M | 3.38M | 2.17M |
| Current Portion of Leases | 670.00K | 647.00K | 571.00K | 546.00K | 495.00K | 224.00K |
| Other Current Liabilities | 1.54M | 1.34M | ||||
| Total Current Liabilities | 22.18M | 13.98M | 8.13M | 7.23M | 6.14M | 6.78M |
| Long-Term Debt | 140.97M | 57.19M | 53.35M | 49.77M | ||
| Long-Term Leases | 192.00K | 539.00K | 874.00K | 1.46M | 2.00M | 474.00K |
| Other Long-Term Liabilities | 61.00K | 83.00K | ||||
| Total Liabilities | 163.41M | 71.79M | 62.35M | 58.45M | 8.13M | 7.25M |
| Common Stock | 384.99M | 352.62M | 288.05M | 260.50M | 273.90M | 251.90M |
| Additional Paid-In Capital | 62.87M | 64.10M | 39.57M | 33.83M | 24.44M | 15.71M |
| Retained Earnings | -485.28M | -430.60M | -367.55M | -326.03M | -266.34M | -207.95M |
| Comprehensive Income & Other | 55.65M | 55.65M | 53.08M | 48.46M | 34.35M | 52.94M |
| Total Common Equity | 18.22M | 41.77M | 13.15M | 16.77M | 66.35M | 112.60M |
| Shareholders' Equity | 18.22M | 41.77M | 13.15M | 16.77M | 66.35M | 112.60M |
| Total Liabilities & Equity | 181.62M | 113.56M | 75.50M | 75.23M | 74.48M | 119.85M |
| Total Debt | 141.83M | 58.38M | 54.80M | 51.77M | 2.49M | 698.00K |
| Net Cash (Debt) | 28.78M | 47.58M | 14.90M | 14.23M | 62.09M | 113.44M |
| Net Cash Per Share | 0.24 | 0.57 | 0.24 | 0.33 | 1.46 | 2.71 |
| Filing Date Shares Outstanding | 140.91M | 16.41M | 66.26M | 43.06M | 42.80M | 42.23M |
| Total Common Shares Outstanding | 140.91M | 122.65M | 66.26M | 43.06M | 42.80M | 42.23M |
| Working Capital | 158.14M | 97.94M | 65.80M | 65.81M | 65.66M | 112.15M |
| Book Value Per Share | 0.13 | 0.34 | 0.20 | 0.39 | 1.55 | 2.67 |
| Tangible Book Value | 18.22M | 41.77M | 13.15M | 16.77M | 66.35M | 112.60M |
| Tangible Book Value Per Share | 0.13 | 0.34 | 0.20 | 0.39 | 1.55 | 2.67 |
| Machinery | 825.00K | 403.00K | 383.00K | 275.00K | 428.00K | |
| Leasehold Improvements | 92.00K | 85.00K | 85.00K | 102.00K | 26.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -84.01M | -63.06M | -41.52M | -59.69M | -58.39M | -42.85M |
| Depreciation & Amortization | 753.00K | 695.00K | 646.00K | 598.00K | 480.00K | 362.00K |
| Other Amortization | 459.00K | 432.00K | 370.00K | 244.00K | ||
| Loss (Gain) From Sale of Assets | 8.00K | 141.00K | ||||
| Loss (Gain) From Sale of Investments | -81.00K | -454.00K | -162.00K | -97.00K | ||
| Stock-Based Compensation | 7.42M | 7.46M | 5.78M | 9.53M | 9.05M | 7.28M |
| Other Operating Activities | 9.77M | 2.83M | 2.67M | 1.80M | -391.00K | -269.00K |
| Change in Accounts Receivable | -2.88M | -156.00K | 1.72M | -2.33M | -755.00K | 96.00K |
| Change in Inventory | -4.72M | -648.00K | ||||
| Change in Accounts Payable | 6.25M | 4.43M | 875.00K | 1.04M | -907.00K | 637.00K |
| Change in Other Net Operating Assets | 4.64M | -944.00K | 1.06M | 2.53M | -1.60M | 1.52M |
| Operating Cash Flow | -61.29M | -49.04M | -28.85M | -46.42M | -52.47M | -33.22M |
| Capital Expenditures | -356.00K | -302.00K | -33.00K | -112.00K | -272.00K | |
| Investment in Securities | 37.00K | 11.55M | 8.32M | 4.87M | -56.85M | 70.00M |
| Investing Cash Flow | -319.00K | 11.25M | 8.28M | 4.76M | -57.12M | 70.00M |
| Long-Term Debt Issued | 50.00M | |||||
| Net Debt Issued (Repaid) | 74.98M | 50.00M | ||||
| Issuance of Common Stock | 111.29M | 82.95M | 27.50M | 582.00K | 3.09M | 121.00K |
| Other Financing Activities | 2.57M | 2.57M | 4.62M | -2.79M | 4.93M | |
| Financing Cash Flow | 188.84M | 85.53M | 32.12M | 47.79M | 3.09M | 5.05M |
| Net Cash Flow | 127.23M | 47.73M | 11.55M | 6.12M | -106.50M | 41.83M |
| Free Cash Flow | -61.65M | -49.34M | -28.88M | -46.54M | -52.74M | -33.22M |
| Free Cash Flow Margin | -2,631.07% | -3,191.66% | -4,653.60% | -1,054.82% | -221.49% | |
| Free Cash Flow Per Share | -0.52 | -0.59 | -0.46 | -1.08 | -1.24 | -0.79 |
| Levered Free Cash Flow | -41.69M | -28.90M | -18.12M | -28.29M | -31.36M | -17.05M |
| Unlevered Free Cash Flow | -35.39M | -26.94M | -16.25M | -26.94M | -31.36M | -17.05M |
| Change in Working Capital | 4.32M | 2.68M | 3.66M | 1.24M | -3.26M | 2.26M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 103.63M | 205.20M | 156.32M | 71.91M | 169.15M | 276.39M |
| Enterprise Value | 74.85M | 179.82M | 133.92M | 47.19M | 94.50M | 150.73M |
| Last Close Price | 0.73 | 2.02 | 2.36 | 1.67 | 3.96 | 6.55 |
| PS Ratio | 43.90 | 132.73 | 71.91 | 33.83 | 18.43 | |
| PB Ratio | 5.65 | 4.91 | 11.89 | 4.29 | 2.55 | 2.46 |
| P/TBV Ratio | 5.65 | 4.91 | 11.89 | 4.29 | 2.55 | 2.46 |
| EV/Sales Ratio | 31.62 | 116.31 | 47.19 | 18.90 | 10.05 | |
| Debt / Equity Ratio | 7.79 | 1.40 | 4.17 | 3.09 | 0.04 | 0.01 |
| Net Debt / Equity Ratio | -1.58 | -1.14 | -1.13 | -0.85 | -0.94 | -1.01 |
| Net Debt / EBITDA Ratio | 0.37 | 0.77 | 0.35 | 0.23 | 1.04 | 2.64 |
| Net Debt / FCF Ratio | 0.47 | 0.96 | 0.52 | 0.31 | 1.18 | 3.41 |
| Asset Turnover | 0.02 | 0.02 | 0.01 | 0.05 | 0.11 | |
| Quick Ratio | 7.87 | 7.83 | 8.79 | 9.34 | 10.72 | 16.92 |
| Current Ratio | 8.13 | 8.01 | 9.10 | 10.11 | 11.70 | 17.55 |
| Return on Equity (ROE) | -35,522.62% | -229.65% | -277.55% | -143.61% | -65.26% | -33.52% |
| Return on Assets (ROA) | -42.77% | -41.09% | -34.92% | -51.01% | -38.36% | -19.95% |
| Return on Capital Employed (ROCE) | -49.20% | -62.40% | -62.50% | -89.80% | -87.30% | -38.10% |
| Earnings Yield | -96.83% | -30.73% | -26.56% | -83.00% | -34.52% | -15.50% |
| FCF Yield | -59.93% | -24.05% | -18.48% | -64.72% | -31.18% | -12.02% |
| Buyback Yield / Dilution | -77.94% | -34.84% | -44.82% | -1.19% | -1.47% | -42.56% |