Milestone Pharmaceuticals Announces Cost-Efficiency Measures To Reduce Its Opex By ~30%, Completed By Q1 2027; Expects To Incur ~$2M In One-Time Charges

Key elements of the cost-efficiency measures include:

Bringing the sales force in-house: the Company plans to retain the existing field sales team of approximately 45 dedicated representatives, transitioning them from a contracted model to company employees at a lower overhead cost while maintaining current sales coverage. This team reflects the territory optimization completed in August, when the field force was reduced from approximately 60 representatives to focus on the strongest-performing representatives and territories, including those covering electrophysiology and highest-prescribing cardiology accounts.  
Operating efficiencies and cost reductions: The Company will also concentrate on its most productive targeted marketing, market access and patient support programs while discontinuing less productive initiatives. The Company is also rightsizing and internalizing selected outsourced activities and reducing its headquarters workforce. These actions are expected to reduce the Company’s operating expenses by approximately 30% and to be complete by the first quarter of 2027. The Company expects to incur approximately $2 million in one-time charges, primarily severance, conversion fees and costs related to the workforce reduction.
Leadership changes: Consistent with the organizational reduction and runway extension, Mr. Amit Hasija (Chief Financial Officer) and Dr. David Bharucha (Chief Medical Officer) have departed from the leadership team. Anthony Krick, the Company’s Vice President of Finance, has been named Principal Financial and Principal Accounting Officer, and will lead the Finance function.
R&D Commitment Maintained: The AFib-RVR Phase 3 program (ReVeRA-301) remains fully funded; non-essential short-term activities, including certain manufacturing scale-up work, have been deferred. AFib-RVR has an estimated addressable patient population of approximately 3 to 4 million patients in the United States (approximately 3 to 4 times the size of that for PSVT).