Milestone Pharma hits record low after FDA declines to approve heart rhythm nasal spray

ReutersMar 28, 2025 4:25 PM

Shares of drug developer Milestone Pharmaceuticals MIST.O fall as much as 66.7% to record low of 75 cents

Stock down 59% at 92 cents in afternoon trade

US FDA declined to approve MIST's nasal spray, Cardamyst, to treat a type of heart condition, company says

FDA raised no concerns about clinical safety or efficacy, but highlighted two key chemistry, manufacturing and controls issues - MIST

Issues include needing additional information on nitrosamine impurities, cancer-causing compounds formed during manufacturing and an inspection of a testing facility

Including session moves, stock down 60% YTD

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