Milestone Pharmaceuticals reported second quarter 2026 results characterized by a miss on both top and bottom lines as the company continues the initial commercial launch of CARDAMYST. While revenue was lower than anticipated, management highlighted a significant expansion in payer coverage and a growing prescriber base intended to accelerate growth in the second half of the year.
Key Highlights
- Product revenue for CARDAMYST reached $0.6 million in its first full quarter since the mid-February launch, trailing the $1.85 million analyst estimate.
- Commercial insurance coverage for CARDAMYST surged to approximately 50% of lives following recent formulary additions, including UnitedHealthcare, up from 25% during the quarter.
- The unique prescriber base expanded to over 800 physicians by June 30, 2026, compared to approximately 200 at the end of the first quarter.