Milestone Pharma falls after TD Cowen downgrades to "hold", removes PT

Shares of drug developer Milestone Pharmaceuticals MIST.O fall 8% to 73 cents, extending decline to third day

Brokerage TD Cowen downgrades MIST to "hold" from "buy", removes PT

Cites etripamil's regulatory and commercial timing uncertainty

"The lack of clarity on regulatory timelines puts additional strain on the company's limited capital," says brokerage

MIST shares fell ~61% on Friday after the U.S. FDA declined to approve its nasal spray, Cardamyst, to treat a type of heart condition

Including session moves, MIST stock down ~69% YTD compared to ~5% decline in the S&P 500 index .SPX