Milestone Pharmaceuticals raises $82.5 million in IPO

Etripamil developer Milestone Pharmaceuticals announced that its recently closed initial public offering raised approximately $82.5 million gross by selling 5,500,000 common shares at $15/share.  The company is developing intranasal etripamil for the treatment of paroxysmal supraventricular tachycardia (PSVT).

The intranasal calcium channel antagonist, also known as MSP-2017, was assigned the unique non-proprietary name “etripamil” by the United States Adopted Name (USAN) Council in 2016.

Milestone initiated a Phase 3 study of etripamil for PSVT in August 2018. In November 2018, the company said that it raised $80 million for Phase 3 development in a financing round led by a new investor.

Read the Milestone Pharmaceuticals press release.