Last Friday, the biopharmaceutical company Milestone Pharmaceuticals Inc (NASDAQ:MIST) was in considerable focus among investors after it announced its financial results for the third fiscal quarter that had concluded on September 30, 2021.
On Friday, MIST stock gained 10.51% to $6.10 with more than 26k shares, compared to its average volume of 27K shares. The stock has moved within a range of $5.50 – 6.11 after opening trade at $5.50.
The stock ended the day with gains of as much as 9% and it is likely that it is going to be in focus this morning as investors return to their trading desks. In this context, it might be a good move from investors to consider taking a closer look at some of the key highlights from the third quarter results.
At the end of the quarter, the company reported total of $126.4 million in the form of cash, short term investments and cash equivalents. On the other hand, the company spent as much as $9.7 million towards research and development in the third quarter and that was higher than the $8.2 million that it had spent towards research and development in the prior year period.
The general and administrative expenses remained unchanged year on year at $3 million. The general and administrative expenses for the first nine months of the year stood at $8.6 million and that remained unchanged from the prior year period as well.
MIST stock is trading above the 20-Day and 50-Day Moving averages of $5.69 and $5.69. Moreover, the stock is trading above the 200-Day moving average of $6.03. The stock is up 14% over the past 3-month.