CARDAMYST gained early commercial momentum after its mid-February launch, with more than 1,200 second-quarter prescriptions and over 1,000 patients receiving treatment. Commercial insurance coverage expanded from about 25% to roughly 50% of covered lives after new agreements with major insurers and PBM networks. Milestone is shifting its commercial focus toward increasing repeat prescribing, activating patients through targeted digital marketing and securing additional payer coverage.
Management expects broader access to improve prescription volumes and revenue per prescription. The company activated sites for its pivotal Phase III ReVeRA-301 study of etripamil in AFib-RVR, with enrollment expected shortly. Second-quarter product revenue reached $0.6 million, while the company reported a $28.6 million net loss and ended June with $170.6 million in cash and investments, expected to fund operations into the second half of 2027.
Milestone Pharmaceuticals (NASDAQ:MIST) reported early commercial traction for CARDAMYST following its mid-February launch, while advancing a pivotal Phase III study of etripamil in atrial fibrillation with rapid ventricular rate, or AFib-RVR. Chief Executive Officer Joseph Oliveto said CARDAMYST represents the first FDA-approved self-administered treatment option for patients experiencing attacks of paroxysmal supraventricular tachycardia, or PSVT. The company said physicians, patients and payers are increasingly recognizing the product's role in managing episodes outside of hospital settings. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat During the second quarter ended June 30, more than 600 unique healthcare professionals prescribed CARDAMYST, compared with approximately 200 in the partial first quarter.
More than 800 unique prescribers wrote prescriptions during the first half, which represented about four and a half months of commercial promotion. More than 1,200 total CARDAMYST prescriptions were recorded in the second quarter, versus about 300 in the first quarter. First-half prescriptions exceeded 1,500.
More than 1,000 patients received CARDAMYST in the second quarter, compared with nearly 300 in the first quarter. More than 1,300 patients received the product during the first half. Oliveto said the company views the breadth of the prescriber base as an important early launch indicator.
In response to an analyst question, he noted that many prescribers have so far been one-time writers, based on the relationship between the number of prescribers and patients. However, he said Milestone has reached roughly half of its approximately 10,000 high-value physician targets and sees room to build both the number of prescribers and the frequency of prescribing. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Chief Commercial Officer Lorenz Muller said the prescriber group includes electrophysiologists, clinical cardiologists, interventional cardiologists, nurse practitioners and other advanced practice providers. He said electrophysiologists have prescribed CARDAMYST earlier and more broadly than the company initially expected, adding that the subspecialty has shown a strong response to increased promotion.
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