Milestone Pharmaceuticals (MIST) said Friday it has launched a public offering of its common shares, as well as accompanying series A and B warrants to purchase such shares.

The company plans to use the net proceeds, along with existing cash and cash equivalents, to fund the clinical development and commercial launch of etripamil in its lead indication of paroxysmal supraventricular tachycardia, among other things.

Milestone Pharmaceuticals shares were down nearly 15% in recent premarket activity.