Milestone Pharmaceuticals Reports Early Traction for CARDAMYST, Initiates AFib-RVR Trial

Event summary

  • CARDAMYST (etripamil) nasal spray launch for PSVT sees 600 scripts filled for 560 patients through April 2026.
  • Express Scripts added CARDAMYST to its commercial national formularies, covering over 25% of commercially insured lives in the U.S.
  • Phase 3 trial for etripamil in AFib-RVR initiated, with patient enrollment expected to begin in H2 2026.
  • Milestone Pharmaceuticals reports $184.2M in cash, cash equivalents, and short-term investments as of March 31, 2026.

The big picture

Milestone Pharmaceuticals is making strides in commercializing CARDAMYST for PSVT, with early signs of payer and prescriber adoption. The initiation of the Phase 3 trial for AFib-RVR marks a strategic pivot towards expanding the therapeutic applications of etripamil. The company's strong cash position provides a runway into H2 2027, but its success will hinge on sustained commercial momentum and regulatory approvals in key markets.

What we're watching

Commercial Momentum
Whether the early adoption of CARDAMYST by unique prescribers will translate into sustained growth and broader payer coverage.
Regulatory Progress
The pace at which the EMA and NMPA will approve etripamil for PSVT in Europe and China, respectively.
Clinical Success
How the Phase 3 trial for AFib-RVR will impact the long-term strategic positioning of etripamil in the cardiovascular market.