Milestone Pharma Q3 2024 10-Q Filed

TL;DR

Milestone Pharma's Q3 2024 10-Q is in, showing updated financials on stock and retained earnings.

AI Summary

Milestone Pharmaceuticals Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data includes information on common stock, retained earnings, and additional paid-in capital as of various dates throughout 2023 and 2024.

Why It Matters

This filing provides investors with the latest financial snapshot of Milestone Pharmaceuticals, crucial for understanding the company's financial health and operational progress.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-11-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Milestone Pharmaceuticals Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of reporting period
• 20241112 (date) — Filing date

FAQ

Filing Documents

• mist-20240930x10q.htm (10-Q) — 1511KB
• mist-20240930xex10d1.htm (EX-10.1) — 18KB
• mist-20240930xex31d1.htm (EX-31.1) — 12KB
• mist-20240930xex31d2.htm (EX-31.2) — 12KB
• mist-20240930xex32d1.htm (EX-32.1) — 9KB
• 0001558370-24-015147.txt ( ) — 6278KB
• mist-20240930.xsd (EX-101.SCH) — 41KB
• mist-20240930_cal.xml (EX-101.CAL) — 39KB
• mist-20240930_def.xml (EX-101.DEF) — 162KB
• mist-20240930_lab.xml (EX-101.LAB) — 343KB
• mist-20240930_pre.xml (EX-101.PRE) — 274KB
• mist-20240930x10q_htm.xml (XML) — 1186KB

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 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31 PART II. OTHER INFORMATION 31 Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 33 Item 6. Exhibits 33 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) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 12,799 $ 13,760 Short-term investments 63,620 52,243 Research and development tax credits receivable 837 643 Prepaid expenses 2,523 3,178 Other receivables 1,211 3,208 Total current assets 80,990 73,032 Operating lease right-of-use assets 1,515 1,917 Property and equipment 201 277 Total assets $ 82,706 $ 75,226 Liabilities, and Shareholders' Equity Current liabilities Accounts payable and accrued liabilities $ 4,676 $ 6,680 Operating lease liabilities 582 546 Total current liabilities 5,258 7,226 Operating lease liabilities, net of current portion 1,002 1,457 Senior secured convertible notes 52,434 49,772 Total liabilities 58,694 58,455 Shareholders' Equity Common shares, no par value, unlimited shares authorized 53,327,908 shares issued and outstanding as of September 30, 2024, 33,483,111 shares issued and outstanding as of December 31, 2023 288,006 260,504 Pre-funded warrants - 12,910,590 issued and outstanding as of September 30, 2024 and 9,577,257 as of December 31, 2023 53,076 48,459 Additional paid-in capital 38,112 33,834 Accumulated deficit ( 355,182 ) ( 326,026 ) Total shareholders' equity 24,012 16,771 Total liabilities and shareholders' equity $ 82,706 $ 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Revenue $ — $ — $ — $ 1,000 Ope

View Full Filing

View this 10-Q filing on SEC EDGAR