MONTREAL and CHARLOTTE, N.C. - Milestone Pharmaceuticals Inc . (NASDAQ:MIST), a biopharmaceutical company specializing in cardiovascular treatments, today announced clinical data showing the effectiveness of etripamil in treating paroxysmal supraventricular tachycardia (PSVT). According to the firm, this study supports a shift in how recurrent PSVT can be managed.
The data, presented at The American College of Cardiology Scientific Sessions in Atlanta, GA, and published in The Journal of the American College of Cardiology, is from an open-label, Phase 3 study conducted in North and South America. Etripamil, a nasal spray, was self-administered by patients to treat multiple PSVT episodes, without prior test dosing. The study included patients with co-morbid atrial fibrillation or atrial flutter.
Chief Medical Officer David Bharucha, MD, PhD, FACC, stated that the real-world study, along with previous Phase 3 studies, comprises a comprehensive data package for at-home acute treatment of PSVT. The results indicated that etripamil successfully restored sinus rhythm with a median time of 17.0 minutes post-administration and was generally well tolerated, with most adverse events localized to the nasal administration site.
The study's protocol allowed for a second dose if symptoms persisted after 10 minutes from the initial dose. The efficacy of etripamil for PSVT conversion was 60% within 30 minutes and 69.9% within 60 minutes after self-administration. These rates are consistent with those from previous studies.
PSVT is a rapid heartbeat condition that can cause severe symptoms and negatively impact daily life. Current treatment options often involve emergency department visits or invasive procedures, highlighting the need for more accessible treatments.
Milestone Pharmaceuticals, focused on developing innovative cardiovascular solutions, emphasizes that etripamil, if approved, could be the first rapid and reliable treatment for acute PSVT episodes, allowing patients to self-manage their condition.
This news is based on a press release statement and aims to provide a balanced view without endorsing the claims. The information presented is subject to regulatory approval, and the outcomes of ongoing and future clinical trials are not guaranteed.
InvestingPro Insights
Milestone Pharmaceuticals Inc. (NASDAQ:MIST) has recently showcased promising clinical data, but what does the financial health of the company look like? According to InvestingPro, the company holds more cash than debt on its balance sheet, which is a positive sign of financial stability. This could be particularly relevant for investors given that the company is rapidly burning through cash and analysts predict it will not be profitable this year. With the potential approval and market entry of etripamil, the company's financial position could be impacted significantly.
Looking at the real-time data from InvestingPro, Milestone Pharmaceuticals has a market capitalization of $104.52 million, reflecting investor valuation of the company. The Price to Book (P/B) ratio stands at 6.34 as of the last twelve months ending Q4 2023, indicating that the stock is trading at a higher valuation compared to its book value. Furthermore, with a revenue of $1 million over the same period, the company is trading at a high revenue valuation multiple. These metrics suggest that while the market recognizes the potential of Milestone's developments, it also reflects a premium pricing for its growth prospects.
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