Milestone Pharmaceuticals downgraded to Hold from Buy at TD Cowen

TD Cowen downgraded Milestone Pharmaceuticals (MIST) to Hold from Buy and suspended the firm's price target after Milestone announced the FDA issued a Complete Response Letter regarding its New Drug Application for Cardamyst nasal spray for the conversion of acute episodes of PSVT to sinus rhythm in adults. The CRL is 'upending imminent launch plans' and timelines to NDA resubmission remain unclear given new concerns on FDA functionality, says the analyst, who adds that commercialization prospects are 'also constrained by limited capital.'
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Milestone Pharmaceuticals: Buy Rating Affirmed Despite CARDAMYST Approval Delay, Strong Market Potential and Robust Financial Position
Milestone CRL affirms integrity of clinical data, says H.C. Wainwright
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