Why Milestone Pharmaceuticals Stock Wilted on Wednesday
Not many investors were willing to walk a mile with Milestone Pharmaceuticals (NASDAQ: MIST) on Hump Day. Shares of the biotech fell by more than 9% that trading session, following its release of a quarterly earnings report and business update.
This, despite Milestone's first quarter being historic for the company due to Cardamyst, a drug that earned the company its first U.S. Food and Drug Administration (FDA) approval last December. This is a nasal spray that quickly converts acute symptomatic episodes of paroxysmal supraventricular tachycardia (PSVT) to sinus rhythm; i.e., it treats sudden, rapid heartbeats.
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Source Fool.com
