CONSHOHOCKEN, Pa., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) today announced that the company will participate in fireside chats at three upcoming investor conferences: UBS Global Healthcare Conference 2024Wednesday, November 13, 2024 at 2:00 P.M. ESTThe presentation will be webcast live and may be accessed here. 7th Annual Evercore HealthCONx ConferenceWednesday, December 4, 2024 at 9:35 A.M. EST Piper Sandler 36th Annual Healthcare ConferenceThursday, December 5, 2024 ...

After its recent price appreciation, Madrigal Pharmaceuticals (NASDAQ: MDGL ) still justifies a “Buy” rating. It’s encouraging clinical progress and market potential through Resmetirom (Rezdiffra), which seems to be just getting started. MDGL’s stock has rapidly appreciated since my previous article on it, driven by theMy name is Myriam Hernandez Alvarez. I received the Electronics and Telecommunication Engineering degree from the Escuela Politecnica Nacional, Quito, Ecuador, the M.Sc. degree in computer sc ...

Madrigal Pharmaceuticals (MDGL) reported third-quarter 2024 loss of $4.92 per share, narrower than the Zacks Consensus Estimate of a loss of $6.94 per share. In the year-ago quarter, the company reported a loss of $5.34 per share.During the quarter, the company generated total revenues of $62.2 million — entirely from product sales of its recently approved nonalcoholic steatohepatitis (NASH) drug Rezdiffra (resmetirom), which was commercially launched this April. The metric beat the Zacks Consensus Estimate ...

Financial Data and Key Metrics Changes - The company reported net sales of $62 million for Q3 2024, reflecting strong demand and exceeding expectations [7][35] - R&D expenses for Q3 2024 were $68.7 million, down from $71 million in Q3 2023, indicating stable R&D spending [39] - SG&A expenses increased to $107.6 million from $27.6 million in Q3 2023, primarily due to the expansion of commercial operations following Rezdiffra's approval [39] - The company had $1 billion in cash and marketable securities as of September 30, 2024, providing a strong financial position to support ongoing operations [40] Business Line Data and Key Metrics Changes - The launch of Rezdiffra has seen over 6,800 patients on the drug by the end of Q3 2024, a significant increase from over 2,000 patients at the end of Q2 2024 [10] - The company achieved coverage for more than 80% of commercial lives for Rezdiffra, ahead of schedule [13] - Approximately 40% of top prescribers have prescribed Rezdiffra, doubling the penetration rate from the previous quarter [17] Market Data and Key Metrics Changes - The company is targeting 315,000 patients diagnosed with NASH with moderate to advanced fibrosis, with only 2% currently on treatment [25] - The market for NASH treatment is expected to expand significantly, with the potential for combination therapies as 25% of Rezdiffra patients are already using it alongside GLP-1s for comorbidities [27] Company Strategy and Development Direction - The company aims to strengthen its leadership position in the NASH market through the successful launch of Rezdiffra and plans for a European launch in the second half of 2025 [29] - The company is focused on building a pipeline beyond Rezdiffra, looking for opportunities in NASH and potential combination therapies [119] - The management emphasizes the importance of establishing Rezdiffra as the foundational therapy for NASH, supported by positive clinical outcomes and real-world data [22][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future market dynamics, citing Rezdiffra's strong product profile and the significant opportunity to penetrate the target market [28] - The management noted that the early launch metrics are crucial indicators of future success, with growth tracking well against benchmarks from other successful specialty medicine launches [45] - The company is preparing for potential competition from GLP-1 therapies, which could further accelerate the growth opportunity for Rezdiffra [25][26] Other Important Information - The company completed enrollment in its MAESTRO-NASH OUTCOMES trial, which could position Rezdiffra as the first therapy for patients with compensated NASH cirrhosis [30][31] - The company is enhancing its R&D capabilities with the appointment of Dr. Michael Charlton as Head of Clinical Development, a recognized expert in NASH [32] Q&A Session Summary Question: Future growth expectations for Q4 and 2025 - Management is pleased with the strong launch progress and anticipates growth in Q4 and 2025 based on current performance metrics [44][46] Question: Cadence of new patient starts - The company is steadily adding patients and prescribers, with expectations for continued growth as the market becomes more established [50] Question: Free drug program utilization - Very little free drug was utilized in the recent quarter, indicating strong coverage and access for patients [64] Question: Persistence and default rates for patients - Management is optimistic about early patient persistence but will need more time to quantify specific rates [116] Question: Business development strategy - The company aims to build a pipeline focused on NASH and is open to evaluating new opportunities that align with its leadership position [119]

Madrigal (MDGL) came out with a quarterly loss of $4.92 per share versus the Zacks Consensus Estimate of a loss of $6.94. This compares to loss of $5.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 29.11%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $7.55 per share when it actually produced a loss of $7.10, delivering a surprise of 5.96%.Over the last four quarters, the company ha ...

Table of Contents _________________________ _________________________ _________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 Par Value Per Share MDGL The NASDAQ Stock Market LLC _________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period e ...

Third-Quarter 2024 Financial Results October 31, 2024 Susan, NASH/MASH patient and advocate NASDAQ: MDGL © 2024 Madrigal Pharmaceuticals. All rights reserved. Forward-Looking Statements This presentation includes "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are based on Madrigal's beliefs and assumptions and on information currently available to it but are subject to factors beyond its control. Forward-looking statemen ...

Financial Performance - Third-quarter 2024 net sales reached $62.2 million, with no product sales recognized in the same period last year[7] - Product revenue for Q3 2024 reached $62.175 million, compared to $0 in Q3 2023[17] - Net loss for Q3 2024 was $106.964 million, compared to a net loss of $98.740 million in Q3 2023, indicating a 8.8% increase in losses[17] - Basic and diluted net loss per common share for Q3 2024 was $(4.92), compared to $(5.34) in Q3 2023[17] Operating Expenses - Third-quarter 2024 operating expenses were $178.5 million, up from $98.5 million in the prior year[8] - Total operating expenses for Q3 2024 were $178.479 million, up from $98.534 million in Q3 2023, representing an increase of 80.9%[17] - Research and development expenses decreased to $68.7 million from $71.0 million year-over-year[8] - Research and development expenses for Q3 2024 were $68.742 million, slightly down from $70.951 million in Q3 2023[17] Cash and Assets - Cash, cash equivalents, restricted cash, and marketable securities totaled $1.0 billion as of September 30, 2024, compared to $634.1 million at the end of 2023[8] - Cash, cash equivalents, and marketable securities increased to $1.003 billion as of September 30, 2024, up from $634.131 million at the end of 2023[18] - Total assets increased to $1.073 billion as of September 30, 2024, from $640.547 million at the end of 2023, marking a growth of 77.6%[18] - Stockholders' equity rose to $777.155 million as of September 30, 2024, compared to $405.333 million at the end of 2023, reflecting a growth of 92.0%[18] - Current liabilities increased to $177.847 million as of September 30, 2024, from $118.548 million at the end of 2023[18] Interest Income - Interest income increased to $13.0 million in Q3 2024, up from $3.3 million in the same period last year[8] - Interest income for Q3 2024 was $13.019 million, significantly up from $3.298 million in Q3 2023[17] Product Development and Market Coverage - Over 80% of commercial lives in the U.S. are now covered for Rezdifra, achieving the coverage goal one quarter ahead of schedule[3] - Less than 5% of Rezdifra-covered lives require biopsy, utilizing noninvasive tests instead[3] - Completed enrollment in the MAESTRO-NASH OUTCOMES trial, which could lead to full approval for Rezdifra in compensated NASH/MASH cirrhosis patients[4] - Positive health-related quality of life data from the Phase 3 MAESTRO-NASH trial was published, showing significant improvements for patients treated with Rezdifra[5] - Madrigal plans to commercialize Rezdifra in Europe pending a positive decision from the EMA, expected mid-2025[6]

CONSHOHOCKEN, Pa., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a biopharmaceutical company focused on delivering novel therapeutics for nonalcoholic steatohepatitis (NASH)/metabolic dysfunction-associated steatohepatitis (MASH), today announced multiple resmetirom data presentations at the upcoming American Association for the Study of Liver Diseases (AASLD) Liver Meeting, taking place from November 15-19, 2024 in San Diego. Bill Sibold, Chief Executive Officer of Madriga ...

Madrigal Pharmaceuticals (NASDAQ: MDGL ) has been on my radar for some time due to its lead candidate Rezdiffra. However, I've held off from initiating a position up until now, primarily due to concerns about the company's overvaluation. It felt as if He is the leader of the investing group Compounding Healthcare . Features of the group include: Several model healthcare portfolios, a weekly newsletter, a daily watchlist, and chat for dialogue and questions. Learn more Biologics is a full-time healthcare inv ...