Madrigal Pharmaceuticals(US:MDGL)2025-11-04 12:03Financial Performance - Third-quarter 2025 net revenues were $287.3 million, a significant increase from $62.2 million in the same period last year, driven by increased demand for Rezdiffra[5][21]. - Operating expenses for the third quarter of 2025 were $401.2 million, compared to $178.5 million in the prior year, reflecting increased commercial activities and R&D investments[5][21]. - The company reported a net loss of $114.2 million for the third quarter of 2025, compared to a net loss of $107.0 million in the same quarter of 2024[21]. Product Development and Market Presence - As of September 30, 2025, over 29,500 patients are on Rezdiffra therapy, with more than 10,000 healthcare providers prescribing it[3][5]. - The company launched Rezdiffra in Germany following European Commission approval, marking it as the first and only approved therapy for MASH in the EU[5][9]. - Madrigal closed a global licensing agreement with CSPC Pharma for an oral GLP-1 (MGL-2086) to develop combination treatments with Rezdiffra, expected to enter clinical trials in the first half of 2026[4][6]. - The new patent for Rezdiffra provides protection until 2045, enhancing the company's competitive position in the market[4][5]. - Rezdiffra's quarterly sales are annualizing above $1 billion, indicating strong market traction with over 90% of the target population yet to be treated[3][5]. Financial Position - Cash, cash equivalents, restricted cash, and marketable securities totaled $1.1 billion as of September 30, 2025, up from $931.3 million at the end of 2024[5][23]. Upcoming Events - The company plans to maintain a strong presence at the upcoming AASLD Liver Meeting, with 15 abstracts accepted for presentation[9].