Milestone Pharmaceuticals Inc. · NASDAQ:MIST

Milestone Pharmaceuticals — Corporate Update (December 2025)

28 slides from Milestone Pharmaceuticals's corporate update, Dec 15, 2025

  1. Slide 1: FDA Approval Investor Call

    FDA Approval Investor Call December 15, 2025

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements 2 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 The Presentation contains forward - looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words such as ‘‘aim,’’ ‘

  3. Slide 3: Call Agenda and Presenters

    Call Agenda Presenters Introduction & CARDAMYST Label Highlights Joe Oliveto, President & Chief Executive Officer Clinical Perspective David Bharucha, MD, PhD, FACC, Chief Medical Officer Commercial Plans Lorenz Muller, Chief Commercial Officer Conclusion Joe Oliveto Q&A Joe Oliveto, David Bharucha,

  4. Slide 4: CARDAMYST indication for conversion of acute symptomatic PSVT episodes

    CARDAMYST is indicated for the conversion of acute symptomatic episodes of paroxysmal supraventricular tachycardia (PSVT) to sinus rhythm in adults . 4 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 Indication & Usage: CARDAMYST is a calcium channel blocker indicated for t

  5. Slide 5: Fast Relief to More Patients with Persistent Effects: RAPID Efficacy Data

    Fast Relief to More Patients with Persistent Effects to 5 Hours Efficacy Data from RAPID 5 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 Key: CI = confidence interval; HR = hazard ratio; SR = sinus rhythm 1. Stambler BS, et al. Lancet . 2023;402(10396):118 - 128. # of sub

  6. Slide 6: Fast Relief to More Patients: Efficacy Data from RAPID

    Kaplan - Meier probability of conversion, (%) Fast Relief to More Patients Efficacy Data from RAPID 6 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 Key: CI = confidence interval; HR = hazard ratio; SR = sinus rhythm 1. Stambler BS, et al. Lancet . 2023;402(10396):118 - 12

  7. Slide 7: CARDAMYST Well Tolerated, Adverse Events Localized to Nasal Site

    CARDAMYST Was Well Tolerated, With Most Adverse Events Localized to the Nasal Administration Site 7 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 Placebo n = 223 % CARDAMYST 2x70 mg ‡ n=86 % CARDAMYST 70 mg n=235 % 6 23 28 Nasal discomfort 1 12 14 Nasal congestion 2 10 12

  8. Slide 8: Our Vision for Commercial Success of CARDAMYST

    Our Vision for Commercial Success of CARDAMYST Key: ED = Emergency Department; CCB = Calcium Channel Blocker; HCP = Healthcare Provider Citations: Internal market research 8 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 Patients Empowerment Fast, reliable self - administr

  9. Slide 9: Presenters

    Presenters Introduction & CARDAMYST Label Highlights Joe Oliveto, President & Chief Executive Officer Clinical Perspective David Bharucha, MD, PhD, FACC, Chief Medical Officer Commercial Plans Lorenz Muller, Chief Commercial Officer Conclusion Joe Oliveto (Q&A) Joe Oliveto, David Bharucha, Lorenz Mu

  10. Slide 10: PSVT – An Atrial Arrhythmia with a Substantial Patient Burden

    PSVT – An Atrial Arrhythmia with a Substantial Patient Burden PSVT = Paroxysmal Supraventricular Tachycardia ; AV = Atrioventricular; AVNRT=AV Nodal Reentrant Tachycardia; AVRT=AV Reentrant Tachycardia 10 PSVT (mainly AVNRT and AVRT) Arrhythmias characterized by a sudden - onset, rapid heart rate 90

  11. Slide 11: Many Current Treatments are Poorly Effective, Invasive, or Inconvenient

    Chronic / Preventive Acute Many Current Treatments are Poorly Effective, Invasive, or Inconvenient BB = Beta Blocker; CCB = Calcium Channel Blocker; PiP = Pill in Pocket *Ablation is elected by only ~15% of eligible US PSVT patients (due to patient reluctance, availability issues). Citations: Estima

  12. Slide 12: CARDAMYST is a Novel CCB Designed to Treat PSVT Episodes

    CARDAMYST is a Novel CCB Designed to Treat PSVT Episodes Safely and Quickly CCB = Calcium Channel Blocker; MOA = Mechanism of Action 12 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 Short - acting CCB MOA very well understood and trusted New Chemical Entity (NCE) Patent p

  13. Slide 13: Presenters

    Presenters Introduction & CARDAMYST Label Highlights Joe Oliveto, President & Chief Executive Officer Clinical Perspective David Bharucha, MD PhD FACC, Chief Medical Officer Commercial Plans Lorenz Muller, Chief Commercial Officer Conclusion Joe Oliveto (Q&A) Joe Oliveto, David Bharucha, Lorenz Mull

  14. Slide 14: 2M+ Patients Cost the Healthcare System at Least $5 Billion Annually

    2M+ Patients Cost the Healthcare System at Least $5 Billion Annually Key: PSVT = Paroxysmal Supraventricular Tachycardia Citations: 1. Rehorn M, et al. J Cardiovasc Electrophysiol . 2021 Aug;32(8):2199 - 2206. 2. IQVIA Pharmetrics Plus 2019 Commercial claims for patients <65yo and Medicare LDS 5% fo

  15. Slide 15: Accessible and Compelling Commercial Opportunity for CARDAMYST

    Accessible and Compelling Commercial Opportunity for CARDAMYST Key: MOA = Mechanism of Action; HRU = Healthcare Resource Utilization Citations: Internal Market Research and Longitudinal Analysis of Truven/ Marketscan and Medicare claims data No anticipated branded competition Low barrier to prescrib

  16. Slide 16: Milestone Can Potentially Reach Half of Annually Treated Patients

    ~2 million 1 Diagnosed Population with PSVT Milestone can Potentially Reach Half of Annually - Treated Patients by Calling on ~10,000 Prescribers with ~60 Sales Reps 2 Citations: 1. Rehorn M, et al. J Cardiovasc Electrophysiol . 2021 Aug;32(8):2199 - 2206. 2. Milestone Data on File 16 Milestone Phar

  17. Slide 17: ~1 Million Annually Treated Population with PSVT

    ~2 million 1 Diagnosed Population with PSVT Milestone can Potentially Reach Half of Annually - Treated Patients by Calling on ~10,000 Prescribers with ~60 Sales Reps 2 Citations: 1. Rehorn M, et al. J Cardiovasc Electrophysiol . 2021 Aug;32(8):2199 - 2206. 2. Milestone Data on File. 3. IQVIA Pharmet

  18. Slide 18: ~500,000 Treated Patients Managed by ~10,000 Healthcare Providers

    ~2 million 1 Diagnosed Population with PSVT Milestone can Potentially Reach Half of Annually - Treated Patients by Calling on ~10,000 Prescribers with ~60 Sales Reps 2 Citations: 1. Rehorn M, et al. J Cardiovasc Electrophysiol . 2021 Aug;32(8):2199 - 2206. 2. Milestone Data on File. 3. IQVIA Pharmet

  19. Slide 19: Prescriber Breakdown by Specialty

    ~2 million 1 Diagnosed Population with PSVT Milestone can Potentially Reach Half of Annually - Treated Patients by Calling on ~10,000 Prescribers with ~60 Sales Reps 2 Citations: 1. Rehorn M, et al. J Cardiovasc Electrophysiol . 2021 Aug;32(8):2199 - 2206. 2. Milestone Data on File. 3. IQVIA Pharmet

  20. Slide 20: Versatility of CARDAMYST Leads to Multiple Use Cases in PSVT

    Versatility of CARDAMYST Leads to Multiple Use Cases in PSVT Citations: Internal Market Research 20 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 Diagnosis Off - Label Chronic Oral Rx Off - Label “Pill in Pocket” Rx No Treatment Catheter Ablation ← Add ← Switch ← Add ← Sw

  21. Slide 21: Cardiologists Expect to Prescribe CARDAMYST to Majority of Unablated Patients

    Cardiologists Expect to Prescribe CARDAMYST to the Majority of Unablated Patients with PSVT Citation: Quantitative market research conducted by Triangle Insights Group (n=250 cardiologists), June - September 2020; Estimated number of unique patients with annual claims for PSVT from Truven MarketScan

  22. Slide 22: Market Access Strategy: Accessibility and Affordability

    Market Access Strategy: Accessibility and Affordability 1. Data on file (Trinity); 2. Sacks NC et al. Am J Cardiol . 2020 Jan 15;125(2):215 - 221; 3. Deshmukh A et al. Heart Rhythm O2. 2022 Aug 4;3(5):577 - 586; 4. Data on File (Healthcare Cost an d Utilization Project (HCUP) NIS 2019 and CMS hospit

  23. Slide 23: Key Brand Performance Indicators for Planned Launch Year

    Key Brand Performance Indicators for Planned Launch Year • New to Brand Prescriptions ( NBRx ) • Prescription Growth (week over week) 23 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 • % Target Lives Covered (emphasis on commercial) • % of Targets with Quality Coverage Dr

  24. Slide 24: Factors Supporting Launch Year Uptake of CARDAMYST

    Factors Supporting Launch Year Uptake of CARDAMYST Citations: Internal Market Research and Data on File 24 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 • Initial sales force covers 50% of potential annually treated patients • Patients seeking treatment weekly • HCP famil

  25. Slide 25: Presenters

    Presenters Introduction & CARDAMYST Label Highlights Joe Oliveto, President & Chief Executive Officer Clinical Perspective David Bharucha, MD PhD FACC, Chief Medical Officer Commercial Plans Lorenz Muller, Chief Commercial Officer Conclusion Joe Oliveto (Q&A) Joe Oliveto, David Bharucha, Lorenz Mull

  26. Slide 26: Conclusion

    Conclusion 26 Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025

  27. Slide 27: Q&A

    Q&A Milestone Pharmaceuticals Approval Call for CARDAMYST | December 15, 2025 27 Joe Oliveto David Bharucha Lorenz Muller Amit Hasija

  28. Slide 28: Thank you

    Thank you

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