Milestone Pharmaceuticals Business Summary

Milestone Pharmaceuticals Inc. (MIST) is a commercial-stage biopharmaceutical company specializing in the development and commercialization of innovative cardiovascular medicines. The company’s revenue model has recently transitioned from a clinical-stage focus on licensing and milestone-based collaborations—most notably with Ji Xing Pharmaceuticals—to direct product sales following the December 2025 FDA approval of its lead asset, CARDAMYST™ (etripamil) nasal spray. As of February 2026, the company generates revenue through the commercial sale of CARDAMYST, the first and only self-administered therapy for paroxysmal supraventricular tachycardia (PSVT), and is expanding its pipeline into atrial fibrillation with rapid ventricular rate (AFib-RVR). Milestone operates as a first-mover in the patient-led cardiovascular intervention space, competing against specialty and cardiovascular-focused firms such as Tenaya Therapeutics, BridgeBio Pharma, and Harmony Biosciences by offering a non-invasive alternative to emergency room-administered intravenous treatments. Milestone was founded in 2005 by Philippe Douville, who continues to serve as a Strategic Advisor. The executive leadership team is led by President and CEO Joseph Oliveto, who brings over 30 years of industry experience from Hoffmann-La Roche and Chelsea Therapeutics, where he oversaw the approval of Northera. He is supported by Amit Hasija (CFO and EVP of Corporate Development), a former investment banker at Credit Suisse and Sanofi executive, and David Sandoval, who was appointed General Counsel and Chief Compliance Officer in February 2026 to lead the company’s commercial legal strategy. The company is backed by notable institutional investors including RTW Investments, which provided critical royalty financing for the CARDAMYST launch, and Inovia Capital. The Board of Directors is chaired by Robert J. Wills, PhD, and includes industry veterans such as Joseph Papa and Andrew Saik, providing deep expertise in pharmaceutical scaling and financial restructuring.