Milestone Pharmaceuticals Inc. Price & Performance (MIST)

Milestone Pharmaceuticals' stock plunged over 66% after the FDA issued a Complete Response Letter for its Cardamyst nasal spray, citing manufacturing and facility inspection issues. The regulatory delay has postponed the product's commercial launch, intensifying investor concerns and causing a significant year-to-date decline in the company's market value.12

Following the FDA's Complete Response Letter for Cardamyst, TD Cowen downgraded Milestone Pharmaceuticals from Buy to Hold, pausing its price target. Analysts cite disrupted launch plans, unclear resubmission timing, and limited capital as key challenges, contributing to a negative outlook for the company's near-term commercialization efforts.34

Investor sentiment toward Milestone Pharmaceuticals has grown increasingly bearish, with short interest climbing 6.3% in April. The uptick in short positions reflects mounting skepticism following regulatory setbacks and ongoing uncertainty about the company's ability to resolve FDA concerns and achieve timely product approval.52