Milestone Pharmaceuticals Inc. shares reversed course Monday, dropping 8.7% to $7.75 at midday after rising as much as 41% in premarket trading.
The stock appeared to encounter resistance when it reached $9.50. On Oct. 10, shares climbed to $9.60 and then closed at $8.50. The stock is up 20% year to date.
Milestone said early Monday that a Phase 3 clinical trial of its lead product candidate, etripamil, achieved its primary endpoint, with patients taking the calcium channel blocker demonstrating a highly statistically significant and clinically meaningful difference in time to paroxysmal supraventricular tachycardia conversion.