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]

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 ...

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 ...

Positive results from the MAESTRO-NASH OUTCOMES study could make resmetirom the first medication approved for patients with compensated NASH cirrhosis, a population at high risk of progressing to adverse liver-related outcomesStudy may also support full approval of RezdiffraTM (resmetirom) in noncirrhotic NASH CONSHOHOCKEN, Pa., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a biopharmaceutical company focused on delivering novel therapeutics for nonalcoholic steatohepatitis ...

CONSHOHOCKEN, Pa., Oct. 18, 2024 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) announced today that it will release its third-quarter 2024 financial results on Thursday, Oct. 31, 2024, prior to the open of the U.S. financial markets. Following the announcement, Madrigal's management will host a live webcast at 8 a.m. Eastern Time to review the Company's financial and operating results. The live webcast may be accessed at the Investor Relations section of the Madrigal Pharmaceuticals webs ...

CONSHOHOCKEN, Pa., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) today announced the company will participate in a fireside chat at the H.C. Wainwright 8th Annual MASH Virtual Investor Conference at 2:00 P.M. ET on Monday, Oct. 7, 2024. The fireside chat will be webcast live and may be accessed here or by visiting Madrigal's website's Investor Relations Events page. A replay of the webcast will be available after the event. About Madrigal Pharmaceuticals Madrigal Pharmaceut ...

It has been about a month since the last earnings report for Madrigal (MDGL) . Shares have added about 1% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Madrigal due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Madrigal Q2 Earnings Top, NASH Drug Drives Top Lin ...

Global Research and Evidence Lab 14 August 2024 Madrigal Pharmaceuticals Inc Rezdiffra Formulary Coverage Tracker Rezdiffra coverage substantially improves in July update (50% commercial coverage, consistent w/mgmt commentary). See inside for an overview of the data on coverage and formulary status plan by plan and how Rezdiffra coverage is changing over time. We update our proprietary monthly formulary coverage tracker for MDGL's Rezdiffra using Evidence Lab's US drug formulary monitor (access data here). ...