Milestone Pharmaceuticals Inc. ( MIST ) shares are tumbling on Friday after the company revealed a minor pushback in European approval for its lead drug.

• Milestone Pharmaceuticals ( MIST ) stock is taking a hit today. Why is MIST stock falling?

European Decision Timeline Pushed

In January, the European Medicines Agency accepted the marketing application for etripamil in paroxysmal supraventricular tachycardia (PSVT), supported by the same global data package used for FDA approval in December 2025.

PSVT is a type of arrhythmia (irregular heartbeat) characterized by sudden, sporadic bursts of a rapid, regular heart rate (120–230 bpm) that start and stop abruptly.

The company expects a decision in the first half of 2027, compared to the first quarter of 2027, anticipated earlier.

Tachymist is the conditionally approved European brand name.

The company reported a fourth-quarter loss of 16 cents, in line with the consensus, with sales of $1.55 million, beating the consensus of $1.20 million.

Milestone Pharmaceuticals Cardamyst U.S. Launch Gains Traction

In the fourth quarter, Milestone shared U.S. launch progress for Cardamyst (etripamil) for PSVT.

Commercial rollout: Product achieved broad U.S. retail pharmacy availability by late January 2026, with promotional launch beginning mid-February.

Sales execution: Around 60-person field force actively targeting cardiologists, electrophysiologists and advanced practice providers in office-based settings.

Early demand indicators: Initial prescription fills suggest underlying demand and effective pre-coverage reimbursement support. Scripts are largely new patient starts, driven by targeted prescribers.

Cash Position Supports Operations Into 2027

Additionally, the company revealed a pro forma cash position of $200 million to support the operating runway into late 2027.

Milestone Pharmaceuticals Technical Analysis Signals Mixed Momentum

The stock is trading 8.8% below its 20-day simple moving average (SMA) and 22.8% below its 100-day SMA, indicating significant short-term weakness.

Over the past 12 months, shares have decreased by 20.54%, and they are currently positioned closer to their 52-week lows than highs.

The RSI is at 46.79, which is considered neutral territory, while the MACD shows a value of -0.0278, with the signal line at -0.0427, indicating a bullish signal as the MACD is above the signal line.

The combination of neutral RSI and bullish MACD suggests mixed momentum.

Key Resistance: $1.70

Key Support: $1

Milestone Pharmaceuticals Top ETF Exposure

Simplify Propel Opportunities ETF ( SURI ) : 3.80% Weight

MIST Stock Price Activity: Milestone Pharmaceuticals ( MIST ) shares were down 14.12% at $1.46 at the time of publication on Friday, according to Benzinga Pro data.