Milestone Pharmaceuticals Inc. (NASDAQ:MIST)
No insider has filed an open-market purchase or sale here in the last 90 days, so there is nothing to score yet.
Loses money on what it sells.
- Revenue
- $5.3M
- Net income
- -$97.9M
- Net margin
- -1844.8%
Not enough balance-sheet detail to judge the debt load.
- Total debt
- $60.9M
- Cash
- $144.5M
Comfortably covers what is due within a year.
- Current assets
- $161.6M
- Current liabilities
- $25.8M
- Current ratio
- 6.27
Consumes cash and must keep raising it.
- Operating cash flow
- -$51.4M
- Free cash flow
- -$51.4M
- FCF margin
- -968.7%
Heavy dilution — shareholders are paying for the business.
- Shares outstanding
- 140.9M
- Share growth (1y)
- 112.3%
- Cash runway
- 34 months
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
MIST Income Statement
| Fiscal Period | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 |
| Revenue | $2.96 M | $559.00 K | $238.00 K | $1.55 M | $0.00 | $0.00 |
| Revenue Growth (YoY) | — | — | — | — | — | — |
| Cost of Revenue | $325.00 K | $32.00 K | $70.00 K | $0.00 | $25.00 K | $0.00 |
| Gross Profit | $2.64 M | $527.00 K | $168.00 K | $1.55 M | -$25.00 K | $0.00 |
| SG&A Expense | $24.23 M | $22.65 M | $4.82 M | $13.28 M | $7.86 M | $8.86 M |
| R&D Expense | $3.46 M | $3.51 M | $3.36 M | $5.52 M | $4.01 M | $3.67 M |
| Operating Expenses | $27.69 M | $26.16 M | $23.94 M | $18.80 M | $11.88 M | $12.53 M |
| Operating Income | -$25.05 M | -$25.63 M | -$23.77 M | -$17.26 M | -$11.90 M | -$12.53 M |
| Pretax Income | -$25.80 M | -$28.61 M | -$26.18 M | -$17.41 M | -$11.99 M | -$12.97 M |
| Tax Provision | $0.00 | $0.00 | -$109.00 K | $0.00 | -$73.00 K | $0.00 |
| Net Income | -$25.80 M | -$28.61 M | -$26.07 M | -$17.41 M | -$11.92 M | -$12.97 M |
| EPS (Basic) | -$0.18 | -$0.21 | -$0.20 | -$0.16 | -$0.12 | -$0.20 |
| EPS (Diluted) | -$0.18 | -$0.21 | -$0.20 | -$0.16 | -$0.12 | -$0.20 |
| Shares Outstanding | 140.91 M | 138.69 M | 130.29 M | 83.88 M | 66.38 M | 66.38 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.