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Madrigal Pharmaceuticals, Inc.

Madrigal Pharmaceuticals, Inc.

NASDAQ•MDGL
CEO: Mr. William J. Sibold
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2007-02-06
Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH. The company is headquartered in West Conshohocken, Pennsylvania.
Contact Information
Four Tower Bridge, Suite 200 200 Barr Harbor Drive, West Conshohocken, PA, 19428, United States
267-824-2827
www.madrigalpharma.com
Market Cap
$10.91B
P/E (TTM)
-37.4
37
Dividend Yield
--
52W High
$615.00
52W Low
$265.00
52W Range
62%
Rank57Top 83.3%
2.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$287.27M+362.03%
4-Quarter Trend

EPS

-$5.08+3.25%
4-Quarter Trend

FCF

$78.99M-216.57%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Product Revenue Surge Net product revenue for three months ended September 30, 2025 reached $287.3M, marking a substantial 362% increase over the prior year period.
Nine-Month Loss Improvement Nine-month net loss narrowed significantly by 43% to $(229.7M)$ compared to $(406.5M)$ in the corresponding 2024 period.
Strong Cash Position Total cash, equivalents, and marketable securities stood at $1.11B on September 30, 2025, up from $931.3M at December 31, 2024.
New Financing Secured Closed new $500.0M senior secured credit facility in July 2025, repaying all outstanding obligations under the prior Hercules Loan Facility.

Risk Factors

R&D Expense Spike R&D expenses increased 153% to $174.0M due to recognizing $120.0M CSPC License upfront fee upon transaction closing in September 2025.
Commercial Spending Rises SG&A expenses grew 94% to $209.1M, driven by increased headcount and commercial activities supporting Rezdiffra launch and expansion.
Interest Rate Exposure Variable rate debt exposes interest expense to risk; a hypothetical 100 basis point shift impacts quarterly interest expense by approximately $0.7M.
Liquidity Dependency Future substantial liquidity needs depend heavily on Rezdiffra commercial success and ability to secure additional capital through financing or partnerships.

Outlook

European Market Entry Launched Rezdiffra in Germany in September 2025 following European Commission conditional marketing authorization received in August 2025.
Pipeline Advancement Expect initiation of clinical development for MGL-2086, a preclinical GLP-1 receptor agonist, in the first half of 2026.
Expanded Indication Goal Awaiting MAESTRO-NASH OUTCOMES trial results in 2027 to support full FDA approval and expand eligible patient population for Rezdiffra.
Debt Maturity Set New Financing Agreement principal balance is due in full on the stated maturity date of July 17, 2030, supporting current operations.

Peer Comparison

Revenue (TTM)

Jazz Pharmaceuticals plcJAZZ
$4.16B
+4.1%
BioMarin Pharmaceutical Inc.BMRN
$3.09B
+12.4%
Exelixis, Inc.EXEL
$2.29B
+9.9%

Gross Margin (Latest Quarter)

Ionis Pharmaceuticals, Inc.IONS
98.5%
-0.7pp
Exelixis, Inc.EXEL
96.9%
+0.1pp
Verona Pharma plcVRNA
95.4%
+0.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
VRNA$72.68B-145.1-30.0%42.7%
RVMD$22.74B-23.2-49.2%7.0%
MRNA$19.03B-6.1-31.4%6.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
40.6%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 25, 2026
|
EPS:-$0.01
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 4, 2025|
    Revenue: $287.27M+362.0%
    |
    EPS: $-5.08+3.3%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $212.80M+1353.8%
    |
    EPS: $-1.90-73.2%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $137.25M+0.0%
    |
    EPS: $-3.32-55.0%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 26, 2025|
    Revenue: $180.13M+0.0%
    |
    EPS: $-21.90-9.6%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $62.18M+0.0%
    |
    EPS: $-4.92-7.9%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $14.64M+0.0%
    |
    EPS: $-7.10+51.4%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $0.00+0.0%
    |
    EPS: $-7.38+72.4%
    N/A

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 28, 2024|
    Revenue: $0.00+0.0%
    |
    EPS: $-19.99-16.0%
    N/A