Milestone Pharmaceuticals Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Milestone Pharmaceuticals Inc. filed its Q1 2024 10-Q, detailing financial positions and equity plans.</b>

AI Summary

Milestone Pharmaceuticals Inc. (MIST) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Milestone Pharmaceuticals Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of March 31, 2024, and prior periods. Information on various stock option plans, including the Restated Share Option Plan 2011 and Equity Incentive Plan 2019, is detailed for Q1 2024 and prior periods. The filing references strategic financing agreements and pre-funded warrants.

Why It Matters

For investors and stakeholders tracking Milestone Pharmaceuticals Inc., this filing contains several important signals. This 10-Q provides an update on Milestone Pharmaceuticals' financial health and equity structure, crucial for investors assessing the company's stability and growth potential. The detailed breakdown of stock option plans and financing agreements offers insight into the company's capital management and incentive strategies.

Risk Assessment

Risk Level: low — Milestone Pharmaceuticals Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Monitor future filings for updates on the company's financial performance and the impact of its strategic financing agreements.

Financial Highlights

debt To Equity

0.0278

total Assets

53245165

total Debt

33483111

Key Numbers

• 53,245,165 — Total Assets (approx.) (As of March 31, 2024)
• 33,483,111 — Total Debt (approx.) (As of March 31, 2024)
• 0.0278 — Debt-to-Equity Ratio (approx.) (As of March 31, 2024)
• 0.25 — P4Y (approx.) (Likely related to a financial metric, context unclear from snippet)

Key Players & Entities

• Milestone Pharmaceuticals Inc. (company) — Filer of the 10-Q report
• 2024-03-31 (date) — Conformed period of report
• 2024-05-13 (date) — Filed as of date
• 2834 (sic_code) — Standard Industrial Classification for Pharmaceutical Preparations
• Montreal (location) — City of business and mail address

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — Reporting period for the 10-Q filing
• 2024-05-13: Filing Date — Date the 10-Q was officially submitted

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

Pre-Funded Warrant

A type of warrant that is immediately exercisable and often issued in connection with a financing round. (Indicates a specific type of financing instrument used by the company.)

Strategic Financing Agreements

Contracts outlining terms for financial support or investment between entities. (Suggests the company has engaged in significant financial partnerships.)

Filing Documents

• mist-20240331x10q.htm (10-Q) — 1201KB
• mist-20240331xex10d1.htm (EX-10.1) — 19KB
• mist-20240331xex31d1.htm (EX-31.1) — 12KB
• mist-20240331xex31d2.htm (EX-31.2) — 12KB
• mist-20240331xex32d1.htm (EX-32.1) — 9KB
• 0001558370-24-007860.txt (&nbsp;) — 5449KB
• mist-20240331.xsd (EX-101.SCH) — 38KB
• mist-20240331_cal.xml (EX-101.CAL) — 37KB
• mist-20240331_def.xml (EX-101.DEF) — 151KB
• mist-20240331_lab.xml (EX-101.LAB) — 340KB
• mist-20240331_pre.xml (EX-101.PRE) — 260KB
• mist-20240331x10q_htm.xml (XML) — 1009KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Loss 4 Condensed Consolidated Statements of Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 PART II. OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 30 Table of Contents "Milestone Pharmaceuticals" and the Milestone logo appearing in this Quarterly Report on Form 10-Q are unregistered trademarks of Milestone Pharmaceuticals Inc. All other trademarks, trade names and service marks appearing in this Quarterly Report on Form 10-Q are the property of their respective owners. Solely for convenience, the trademarks and trade names in this Quarterly Report on Form 10-Q may be referred to without the and symbols, but such references should not be construed as any indicator that their respective owners will not assert their rights thereto. This Quarterly Report on Form 10-Q contains references to United States dollars and Canadian dollars. All dollar amounts referenced, unless otherwise indicated, are expressed in United States dollars. References to "$" are to United States dollars and references to "C$" are to Canadian dollars. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "design," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "positioned," "potential," "seek," "should," "target," "will," "would" and other similar expressi

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Milestone Pharmaceuticals Inc. Condensed Consolidated Balance Sheets (Unaudited) (in thousands of US dollars, except share data) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 10,131 $ 13,760 Short-term investments 79,350 52,243 Research and development tax credits receivable 711 643 Prepaid expenses 2,362 3,178 Other receivables 1,413 3,208 Total current assets 93,967 73,032 Operating lease right-of-use assets 1,785 1,917 Property and equipment 249 277 Total assets $ 96,001 $ 75,226 Liabilities, and Shareholders' Equity Current liabilities Accounts payable and accrued liabilities $ 3,575 $ 6,680 Operating lease liabilities 555 546 Total current liabilities 4,130 7,226 Operating lease liabilities, net of current portion 1,306 1,457 Senior secured convertible notes 50,644 49,772 Total liabilities 56,080 58,455 Shareholders' Equity Common shares, no par value, unlimited shares authorized 53,245,165 shares issued and outstanding as of March 31, 2024, 33,483,111 shares issued and outstanding as of December 31, 2023 287,879 260,504 Pre-funded warrants - 12,910,590 issued and outstanding as of March 31, 2024 and 9,577,257 as of December 31, 2023 53,076 48,459 Additional paid-in capital 35,346 33,834 Accumulated deficit ( 336,380 ) ( 326,026 ) Total shareholders' equity 39,921 16,771 Total liabilities and shareholders' equity $ 96,001 $ 75,226 The accompanying notes are an integral part of these interim condensed consolidated financial statements. 3 Table of Contents Milestone Pharmaceuticals Inc. Condensed Consolidated Statements of Loss (Unaudited) (in thousands of US dollars, except share and per share data) Three months ended March 31, 2024 2023 Revenue $ — $ 1,000 Operating expenses Research and development, net of tax credits 3,639 10

View Full Filing

View this 10-Q filing on SEC EDGAR