Milestone Pharmaceuticals (MIST) IPO Opens 4% Higher

Today's IPO for Milestone Pharmaceuticals Inc. (NASDAQ: MIST) opened for trading at $15.61 after pricing its upsized initial public offering of 5,500,000 of its common shares at a public offering price of $15.00 per share.

In addition, Milestone has granted certain of the underwriters a 30-day option to purchase up to 825,000 additional common shares at the initial public offering price, less the underwriting discounts and commissions.

Jefferies LLC, Cowen and Company, LLC, and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. is acting as lead manager for the offering.

Milestone, headquartered in Montreal, Canada with a U.S. subsidiary in Charlotte, N.C., is a Phase 3 clinical-stage biopharmaceutical company dedicated to developing and commercializing the investigational new drug etripamil for the treatment of cardiovascular indications. Etripamil is a novel, potent and short-acting calcium channel blocker designed by Milestone and being developed as a rapid-onset nasal spray to be administered by the patient to terminate episodes of PSVT as they occur.

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