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Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) has earned an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $699.6429.

MDGL has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Canaccord Genuity Group upped their price objective on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Barclays reduced their target price on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Finally, Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th.

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Madrigal Pharmaceuticals Price Performance MDGL stock opened at $533.76 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. Madrigal Pharmaceuticals has a one year low of $393.61 and a one year high of $615.00. The stock has a market cap of $12.33 billion, a PE ratio of -41.41 and a beta of -1.01. The firm has a 50 day simple moving average of $526.96 and a two-hundred day simple moving average of $502.86. Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. The firm had revenue of $364.25 million for the quarter, compared to analyst estimates of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The business’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.90) EPS. On average, analysts predict that Madrigal Pharmaceuticals will post -7.03 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals In related news, General Counsel Shannon T. Kelley sold 664 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the sale, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. This represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of Madrigal Pharmaceuticals by 54,067.5% during the 2nd quarter. California State Teachers Retirement System now owns 9,233,929 shares of the biopharmaceutical company’s stock valued at $4,958,158,000 after buying an additional 9,216,882 shares in the last quarter. Janus Henderson Group PLC raised its stake in Madrigal Pharmaceuticals by 27.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock worth $1,051,727,000 after acquiring an additional 433,804 shares during the period. Jupiter Topco LLC bought a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $1,039,650,000. Paulson & CO. Inc. bought a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $719,524,000. Finally, BlackRock Inc. purchased a new position in Madrigal Pharmaceuticals during the second quarter valued at approximately $644,753,000. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Company Profile (Get Free Report)

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

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Allworth Financial LP bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 3,562 shares of the biopharmaceutical company’s stock, valued at approximately $1,913,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MDGL. Persistent Asset Partners Ltd acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $29,000. Global Retirement Partners LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth approximately $34,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $39,000. Quarry LP acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth approximately $39,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth approximately $50,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance Shares of Madrigal Pharmaceuticals stock opened at $516.74 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $393.61 and a 1-year high of $615.00. The firm’s 50-day moving average price is $524.40 and its two-hundred day moving average price is $501.02. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of -40.09 and a beta of -1.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, beating the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The company had revenue of $364.25 million during the quarter, compared to analysts’ expectations of $352.13 million. During the same quarter in the previous year, the company posted ($1.90) EPS. The business’s revenue for the quarter was up 71.2% compared to the same quarter last year. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 earnings per share for the current fiscal year. Insider Activity In other news, General Counsel Shannon T. Kelley sold 664 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the transaction, the general counsel directly owned 11,474 shares of the company’s stock, valued at $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the completion of the sale, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets MDGL has been the topic of several research reports. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 price objective on the stock in a research note on Tuesday, August 4th. Canaccord Genuity Group lifted their target price on shares of Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wells Fargo & Company initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Monday, July 27th. They issued an “overweight” rating and a $685.00 price target on the stock. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Finally, Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $689.93.

Read Our Latest Analysis on Madrigal Pharmaceuticals

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Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

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Madrigal Pharmaceuticals (NASDAQ: MDGL) said Rezdiffra continued to post strong commercial growth in the second quarter of 2026, while the company expanded its development pipeline around the MASH therapy and prepared for several potential clinical catalysts. Speaking at a Canaccord Genuity event, Chief Financial Officer Mardi Dier said the company reported $364 million in second-quarter revenue,

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Madrigal Pharmaceuticals, Inc. (MDGL) Presents at Canaccord Genuity's 46th Annual Growth Conference Transcript

August 06, 2026 08:00 ET  | Source: Madrigal Pharmaceuticals, Inc.

CONSHOHOCKEN, Pa., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) announced today that the company will participate in the Canaccord Genuity 46th Annual Growth Conference on Tuesday, Aug. 11, 2026 at 12:00 P.M. EDT.

The presentation will be webcast live and may be accessed here or by visiting Madrigal’s Investor Relations Events and Presentations page. A replay of the webcast will be available after the event.

About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

MarketBeat Week in Review – 09/08 - 09/12Madrigal Pharmaceuticals NASDAQ: MDGL reported second-quarter 2026 net sales of $364.3 million for Rezdiffra, up 71% from a year earlier, as the company continued to expand the number of patients receiving its treatment for metabolic dysfunction-associated steatohepatitis, or MASH.

The company said Rezdiffra had generated nearly $1.3 billion in trailing 12-month net sales and ended the quarter with more than 49,000 active patients, more than double the level reported a year earlier. Madrigal said it surpassed 50,000 active patients earlier in July.

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CoreWeave and Madrigal's Insider Trades Flash Bullish Signals“Demand for Rezdiffra remains strong,” Chief Executive Officer Bill Sibold said during the company’s earnings call. He said prescriptions continue to be driven primarily by hepatologists and gastroenterologists, while the company is still early in its effort to reach endocrinologists, which began in the fourth quarter of 2025.

Market Expansion and Commercial Outlook Madrigal said the U.S. addressable market for diagnosed F2/F3 MASH patients treated by its target specialists grew to approximately 460,000 patients at the end of 2025, compared with 315,000 at the end of 2023. Sibold attributed the expansion to increased disease awareness, diagnosis, referrals to specialists and urgency to treat patients.

Novo Nordisk: A New Boost for GLP-1 Sales on the HorizonThe company said it expects the MASH market to continue growing at a double-digit rate for the foreseeable future. Sibold said Madrigal estimates the market remains at an early stage, with roughly 10% diagnosis and about 10% penetration among diagnosed patients.

Chief Financial Officer Mardi Dier said the company was comfortable with consensus quarterly growth rates for the remainder of 2026 and expects continued steady patient additions through the third and fourth quarters. Madrigal maintained its expectation that its full-year gross-to-net discount will remain in the mid- to high-30% range.

International revenue made a negligible contribution during the quarter, according to Sibold. The company has launched Rezdiffra in Germany, begun an early-access program in France and received approval in the United Kingdom. However, he said reimbursement remains a challenge amid uncertainty surrounding most-favored-nation pricing policies and related discussions with governments.

Financial Results and Spending Madrigal reported a second-quarter net loss of $57.9 million, compared with a net loss of $42.3 million in the prior-year period. The quarterly loss included a $25 million one-time upfront business-development expense tied to the in-licensing of MGL0795, an siRNA program from Arrowhead Pharmaceuticals.

Cost of sales was $40 million, compared with $9.1 million a year earlier, primarily reflecting higher royalties payable to Roche and a write-down of certain work-in-process inventory. Research and development expense rose to $91.2 million from $54.1 million, driven largely by the Arrowhead upfront payment. Selling, general and administrative expense increased to $289.4 million from $196.9 million, reflecting commercial investment in Rezdiffra, including the endocrinology field-force expansion and direct-to-consumer marketing. Stock-based compensation expense totaled $35.4 million, up from $25.2 million in the prior-year quarter. The company ended the quarter with $838.9 million in cash equivalents, restricted cash and marketable securities, down from $988.6 million at the end of 2025. Dier said Madrigal expects full-year R&D spending to be roughly in line with 2025, including announced business-development upfront payments, while SG&A spending is expected to increase as the company supports Rezdiffra’s launch.

F4 Cirrhosis Study and Clinical Evidence Madrigal is conducting the event-driven Phase III MAESTRO-NASH OUTCOMES trial in patients with well-compensated MASH cirrhosis, known as F4C. The company expects the study to read out in 2027 and said events are accruing in line with that timeframe, though management did not provide a more specific date or confirm the final target number of events.

Chief Medical Officer Dave Allegretti said the company has enriched the trial population for risk of clinically significant portal hypertension using measures including platelet counts, liver stiffness and magnetic resonance elastography. He said any statistically significant risk reduction that supports approval could be clinically meaningful because no approved therapy currently exists for F4C MASH.

At the European Association for the Study of the Liver meeting, Madrigal presented an analysis of a 122-patient open-label cohort from the MAESTRO-NAFLD-1 trial. Using the ANTICIPATE-MASH risk model, the company said the proportion of patients considered at higher risk for clinically significant portal hypertension declined from 75% at baseline to 55% after two years of resmetirom treatment.

Madrigal also cited real-world data from one large gastroenterology practice, where nearly half of patients achieved at least a 25% reduction in liver stiffness over an average follow-up of about nine months.

Pipeline Plans and Patent Protection The company said it has built a MASH pipeline of more than 10 programs, including four clinical-stage assets. Madrigal began dosing its oral GLP-1 candidate, MGL-2086, in a Phase I single-ascending-dose study in June. Results from the single-ascending-dose and multiple-ascending-dose work are expected to inform a planned Phase II combination study with resmetirom in 2027.

Madrigal also plans to initiate Phase II studies in 2027 evaluating its DGAT2 inhibitor, ervogastat, with resmetirom and evaluating a combination of resmetirom and MGL0795, the PNPLA3-targeting siRNA licensed from Arrowhead. The company’s F2-F3 MAESTRO-NASH Phase III study is expected to report data in 2028.

Sibold said Madrigal recently received three additional patents related to Rezdiffra, including two patents supporting protection in F2-F3 MASH and one supporting a potential F4C indication. He said the company’s previously secured F2-F3 patent extends to 2045, while the newer F4C patent extends into the 2040s.

About Madrigal Pharmaceuticals (NASDAQ:MDGL)Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company's pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Madrigal (MDGL - Free Report) came out with a quarterly loss of $1.99 per share versus the Zacks Consensus Estimate of a loss of $2.55. This compares to a loss of $1.9 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +21.96%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $3.61 per share when it actually produced a loss of $3.25, delivering a surprise of +9.97%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Madrigal, which belongs to the Zacks Medical - Drugs industry, posted revenues of $364.25 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.27%. This compares to year-ago revenues of $212.8 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Madrigal shares have lost about 6.1% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for Madrigal?While Madrigal has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Madrigal was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.27 on $392.53 million in revenues for the coming quarter and -$7.45 on $1.49 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Karyopharm Therapeutics (KPTI - Free Report) , is yet to report results for the quarter ended June 2026.

This pharmaceutical company is expected to post quarterly loss of $1.25 per share in its upcoming report, which represents a year-over-year change of +71.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Karyopharm Therapeutics' revenues are expected to be $35.82 million, down 5.6% from the year-ago quarter.

July 21, 2026 16:05 ET  | Source: Madrigal Pharmaceuticals, Inc.

CONSHOHOCKEN, Pa., July 21, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that it granted equity awards on July 15, 2026 to ten new non-executive employees as equity inducement awards under the terms of Madrigal’s 2025 Inducement Plan. The equity awards were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).

The equity awards were granted as an inducement material to employees’ acceptance of employment with the company. The new employees received, in the aggregate, options to purchase 4,770 shares of Madrigal’s common stock, 7,433 time-based restricted stock units and 1,908 performance-based restricted stock units. Options have an exercise price of $550.25 per share, which is equal to the closing price of the company’s common stock on the grant date. Options vest as follows: (i) 25% of the option shares will vest on the first anniversary of the grant date and (ii) 6.25% of the option shares will vest on each quarterly anniversary following the first anniversary of the grant date. All restricted stock units granted vest in four equal installments on each of the first through fourth anniversaries of the grant date. Performance-based restricted stock units are earned based on the total shareholder return of Madrigal relative to a defined peer group over a three year period and, to the extent earned, will cliff vest in the first quarter of 2029. The vesting of all awards described above shall be subject to each such employee’s continued employment as of the applicable vesting date.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

Received two new U.S. Rezdiffra® (resmetirom) patents in F2/F3; both patents will be listed in the FDA’s Orange Book Received new U.S. resmetirom patent directed to a method of administering resmetirom to treat well-compensated cirrhosis (F4c) CONSHOHOCKEN, Pa., July 13, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that the United States Patent and Trademark Office (USPTO) issued three new resmetirom patents.

Bill Sibold, Chief Executive Officer of Madrigal, stated: “Building a robust patent estate is a core pillar of our long-term strategy. It gives us the runway to continue investing in innovation and extend our leadership in MASH. Last year, we secured our pivotal 2045 F2/F3 patent. Today, we're building on that foundation with three additional patents – two that reinforce our protection in F2/F3 and one supporting our potential F4c indication. Together, these patents further strengthen our robust patent estate and reflect our disciplined approach to maximizing the long-term value of Rezdiffra while reinforcing our leadership in MASH.”

New U.S. Rezdiffra patents in F2/F3 to be listed in FDA’s Orange Book U.S. Patent No. 12,667,575, directed to administering a weight-threshold step-down 60mg or 80mg resmetirom dose for patients with F2/F3 MASH also using a moderate CYP2C8 inhibitor. This patent issued on June 30, 2026, and is expected to provide protection to 2045.U.S. Patent No. 12,661,359, directed to the administration of rosuvastatin and resmetirom and limits the daily dose of rosuvastatin to a maximum of 20mg per day to reduce or eliminate dose-related side effects. This patent issued on June 23, 2026, and is expected to provide protection to 2042. New U.S. resmetirom patent in F4c U.S. Patent No. 12,661,361, directed to a method of administering resmetirom to treat well-compensated cirrhosis (F4c). This patent issued on June 23, 2026, and is expected to provide protection to 2042. About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.

Forward-Looking Statements
This press release includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to the expected benefit of the new patents and resmetirom’s potential benefit in patients with compensated MASH cirrhosis. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; our ability to successfully commercialize Rezdiffra in the U.S. and Europe; risks related to obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; our history of operating losses and the possibility that we may never achieve or maintain profitability; risks associated with meeting the objectives of our clinical trials, including, but not limited to our ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for our trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) mechanism of action or of any other product candidate; market demand for and acceptance of Rezdiffra; our ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitors; future topline data timing or results; our ability to prevent and/or mitigate cyber-attacks; our ability to protect our intellectual property rights; the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; and changes in laws and regulations applicable to our business and our ability to comply with such laws and regulations. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission (SEC) for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, and as updated from time to time by Madrigal’s other filings with the SEC.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

, /PRNewswire/ -- Suzhou Ribo Life Science Co., Ltd. (06938.HK) y su filial Ribocure Pharmaceuticals AB (en adelante, "Ribo"), en colaboración con Madrigal Pharmaceuticals, Inc. (Madrigal, NASDAQ: MDGL), han dado a conocer el logro del primer hito de nominación de fármaco candidato dentro de su alianza en el campo del siRNA. Este hito es el resultado de una colaboración eficiente y servirá para dar paso al inicio inmediato de estudios preclínicos para la solicitud de autorización de investigación clínica (IND) que respalden los estudios clínicos planificados.

Esta alianza subraya el compromiso conjunto pleno de Ribo y Madrigal de cara a impulsar terapias de ARN de vanguardia para enfermedades hepáticas, con un enfoque principal en la esteatohepatitis asociada a disfunción metabólica (MASH), un campo con enormes necesidades médicas no cubiertas. La colaboración abarca múltiples activos preclínicos y amplía aún más el panorama terapéutico potencial dirigido al hígado para la MASH.

"Nos complace haber alcanzado el primer hito clave en nuestro programa conjunto MASH con Madrigal en tan solo unos meses. Madrigal ha consolidado una posición de liderazgo en el mercado y cuenta con una profunda experiencia clínica en el campo de MASH, mientras que Ribo posee capacidades de primer nivel en el descubrimiento de fármacos siRNA y tecnología de administración. Nuestras fortalezas complementarias sirven para impulsar el rápido progreso de este proyecto. Ambas partes están comprometidas con acelerar el desarrollo de nuestro nuevo candidato a siRNA para MASH. Tenemos previsto poder avanzar de forma conjunta en este programa de colaboración y proporcionar nuevas y prometedoras opciones terapéuticas a pacientes de todo el mundo que viven con MASH", declaró Li-Ming Gan, co-consejero delegado y presidente global de I+D de Ribo.

Acerca de Suzhou Ribo Life Science Co. Ltd. y Ribocure Pharmaceuticals AB
Suzhou Ribo Life Science Co. Ltd. (Ribo, 06938.HK) es una empresa innovadora de I+D en fase clínica que se dedica a poner en marcha el desarrollo de fármacos de ácidos nucleicos y productos relacionados basados en la tecnología de interferencia de ARN (ARNi). Gracias a sus innovadoras capacidades de I+D y a sus plataformas tecnológicas integradas verticalmente, Ribo ha desarrollado una sólida cartera de productos, con el objetivo de contribuir al tratamiento de enfermedades graves con necesidades médicas no cubiertas.
Como filial de Suzhou Ribo Life Science, Ribocure Pharmaceuticals AB (Ribocure) se dedica al desarrollo global de terapias con oligonucleótidos que salvan vidas, centrándose en el desarrollo de activos y cartera de productos, así como en nuevas ideas de dianas terapéuticas y en la creación de capacidades innovadoras para realizar ensayos clínicos y desarrollar fármacos de ARNip para abordar necesidades médicas reales no cubiertas a nivel mundial.

Si desea más información visite www.ribolia.com y www.ribocure.com.

June 22, 2026 16:05 ET  | Source: Madrigal Pharmaceuticals, Inc.

CONSHOHOCKEN, Pa., June 22, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that it granted equity awards on June 15, 2026 to five new non-executive employees as equity inducement awards under the terms of Madrigal’s 2025 Inducement Plan. The equity awards were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).

The equity awards were granted as an inducement material to employees’ acceptance of employment with the company. The new employees received, in the aggregate, 1,397 time-based restricted stock units. All restricted stock units granted vest in four equal installments on each of the first through fourth anniversaries of the grant date. The vesting of all awards described above shall be subject to each such employee’s continued employment as of the applicable vesting date.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

CONSHOHOCKEN, Pa., April 22, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) announced today that it will release its first-quarter 2026 financial results on Wednesday, May 6, 2026, 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 website. To ensure a timely connection, it is recommended that participants register at least 15 minutes prior to the scheduled webcast.

The webcast will be available approximately two hours after the live webcast.

About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra is the first and only medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.

Investor Contact
Tina Ventura, Madrigal Pharmaceuticals, Inc., [email protected]

Media Contact
Christopher Frates, Madrigal Pharmaceuticals, Inc., [email protected]

Madrigal Pharmaceuticals, Inc. receives a Sell rating, citing high valuation and intensifying MASH competition despite Rezdiffra's initial commercial success. Rezdiffra achieved $958.4m in 2025 sales with ~36,250 patients, but MDGL profitability remains elusive as operating expenses outpace revenue growth. SG&A and R&D costs are expected to rise in 2026, while no specific guidance has been provided, and consensus sees potential Q1 revenue softness.

© gorodenkoff / Getty Images

Artificial intelligence has dominated investor attention for two years, but biotech revenue lines are also bending sharply higher. A small group of biotechs is building real commercial businesses around recently approved drugs, with growth profiles that stack up favorably against many AI darlings on a fundamentals basis. The three names below all reported Q4 2025 results in February, all have approved products generating meaningful revenue, and all carry catalysts that should drive the story through 2026 and beyond.

The screen is straightforward: an approved, commercially active drug; durable revenue growth in the most recent quarter; visible 2026 catalysts; and a multi-year runway that does not depend on a hyperscaler capex cycle.

1. Cytokinetics (CYTK) Cytokinetics (NASDAQ:CYTK | CYTK Price Prediction) is the most speculative of the three, but it just crossed the most important line in biotech. MYQORZO (aficamten) received FDA approval in December 2025, and the U.S. launch is underway. Q4 2025 revenue came in at $17.75 million, beating the $8.02 million consensus by 121%, driven by milestone payments under the Sanofi license agreement. EPS of -$1.50 missed the -$1.37 estimate as the company built out its commercial infrastructure.

The financial profile carries real risk. Shareholders’ equity sits at -$659.63 million, and 2026 guidance calls for combined GAAP R&D and SG&A of $830 million to $870 million. The offset is a calendar of catalysts: ACACIA-HCM topline results in Q2 2026, a German MYQORZO launch in Q2, and a potential MAPLE-HCM sNDA approval in Q4 2026. CEO Robert Blum called the quarter “a defining moment” for the company’s transition to commercial stage. Wall Street agrees, with an analyst target of $92.94 against a recent price near $62.29. Shares are up 44% over the past year.

2. Madrigal Pharmaceuticals (MDGL) Madrigal Pharmaceuticals (NASDAQ:MDGL) is running one of the most successful specialty launches in recent memory. Rezdiffra, the first approved MASH therapy, posted Q4 2025 net sales of $321.10 million, up 211% year over year, and full-year 2025 revenue of $958.40 million versus $180.10 million in 2024, growth of 432%. The patient base climbed from 17,000 in Q1 to more than 36,250 by year-end, with over 10,000 prescribing healthcare providers.

CEO Bill Sibold framed the opportunity bluntly: “We solidified our position as the undisputed leader in MASH highlighted by nearly $1 billion in Rezdiffra sales in its first full year of launch. And we’re just getting started.” Roughly 90% of the target MASH population remains untreated, and the company has extended U.S. patent protection to 2045. The pipeline spans more than 10 programs, with MGL-2086 entering the clinic in Q2 2026 and MAESTRO-NASH OUTCOMES topline data due in 2027.

The catch: Madrigal remains unprofitable, with full-year operating income of -$300.10 million and a forward P/E of 667x. Analysts see upside anyway, with a target of $672.79 against a recent $514.41.

3. ADMA Biologics (ADMA) ADMA Biologics (NASDAQ:ADMA) takes the top slot because it is the only profitable name on the list, backed by multi-year guidance. Q4 2025 revenue came in at $139.16 million, up 18% year over year, EPS of $0.20 met expectations, and adjusted EBITDA jumped 52% to $73.59 million. Gross margin expanded to 64% from 54% as yield-enhanced production fully integrated into commercial operations. Full-year 2025 revenue was $510.17 million, up 20%, with net income of $146.93 million.

ASCENIV is the engine, generating $362.53 million in 2025, up 51%, with management noting it remains early in its penetration curve. Guidance calls for 2026 revenue above $635 million, 2027 above $775 million, and 2029 above $1.1 billion with adjusted EBITDA of at least $700 million, implying roughly 20% revenue and 30% EBITDA CAGRs. Capital returns are real: a $200 million repurchase program including a $125 million accelerated agreement with JPMorgan. CEO Adam Grossman said ADMA is “entering 2026 with significant momentum”.

Valuation is the most reasonable in the group: a trailing P/E of 18x and a forward P/E of 11x. Shares have been down 41.16% year to date, but rallied 14.47% over the past month since the Q4 print. Analysts carry a target of $20.67.

The Bottom Line Cytokinetics offers the most catalyst-rich 2026 calendar but the weakest balance sheet. Madrigal owns the MASH category outright with a launch that annualized above $1 billion within six quarters. ADMA earns the top spot by combining growth with actual earnings, margin expansion, capital returns, and the only multi-year revenue and EBITDA targets in the group. For investors looking past the AI trade, that combination is what respectable growth actually looks like.

Company advances its leadership in MASH with clinical-stage, genetically targeted siRNA asset from Arrowhead PharmaceuticalsPrecision approach targets patients who have a mutation in the PNPLA3 gene, which is highly prevalent among Hispanic patients with MASHPhase 1 data published in The New England Journal of Medicine demonstrated a 46% liver fat reduction in homozygous patients and a well-tolerated safety profileMadrigal’s pipeline includes more than 10 programs at multiple stages of development, anchored by Rezdiffra® (resmetirom) as the foundational treatment CONSHOHOCKEN, Pa., May 05, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced an exclusive global license agreement with Arrowhead Pharmaceuticals for ARO-PNPLA3, a clinical-stage, small interfering RNA (siRNA) asset targeting patatin-like phospholipase domain-containing protein 3 (PNPLA3), a key genetic driver of MASH.

The license of ARO-PNPLA3 adds to Madrigal’s pipeline with a precision medicine approach for patients at high risk of MASH. PNPLA3 I148M, a well-established genetic contributor to MASH progression, is associated with increased liver fat, inflammation, fibrosis, cirrhosis and hepatocellular carcinoma. Approximately 30% of patients with MASH with moderate to advanced fibrosis (consistent with stages F2 to F3 fibrosis) carry two identical copies of this variant (known as homozygous patients), and it is highly prevalent in Hispanic populations.

“The addition of an siRNA program targeting PNPLA3 to our pipeline reflects Madrigal’s commitment to shaping the future of MASH patient care,” said Bill Sibold, Chief Executive Officer of Madrigal. “MASH is a complex, heterogeneous disease, and we believe patients will benefit from personalized treatment strategies targeting key genetic risk factors that drive disease progression and adverse outcomes. We’re particularly excited about the potential to advance research for members of the Hispanic community, who are disproportionately affected by MASH.”

“We are pleased to add ARO-PNPLA3 to our pipeline as we continue to expand Madrigal’s leadership in MASH,” said David Soergel, M.D., Chief Medical Officer of Madrigal. “This licensing agreement advances our R&D strategy of developing therapies that target validated disease mechanisms and may complement Rezdiffra’s broad therapeutic effects, especially in patient populations with specific needs. Encouraging Phase 1 data support continued development of this targeted approach for patients with a well-defined genetic driver of disease, and we will begin planning for combination studies with Rezdiffra.”

Phase 1 trials provide proof-of-concept for ARO-PNPLA3 as a potential precision-medicine approach in MASH
A Phase 1, first-in-human, double-blind, placebo-controlled trial of ARO-PNPLA3 was conducted in the United States in 55 patients with Metabolic dysfunction-associated fatty liver disease (MAFLD) who were either homozygous or heterozygous carriers of the PNPLA3 I148M variant. Approximately 93% of participants were Hispanic or Latino. Data from this study, published in The New England Journal of Medicine, demonstrated:

Reductions in liver fat up to 46% (as measured by MRI-PDFF) at 12 weeks following a single dose at the highest dose level tested in PNPLA3 I148M homozygous patientsRapid onset of effect, with reductions observed at six weeks and sustained through at least 24 weeksNo clinically meaningful adverse events were observedNo effect on liver fat content was observed in heterozygous participants at any of the doses studiedResults from a second Phase 1 trial conducted in Japan (n=9) support these findings
siRNA: Potential for an Effective, Genetically Targeted Treatment Approach
Small interfering RNAs (siRNAs) offer a precision approach to gene silencing in MASH by selectively reducing the production of disease-driving proteins. When linked to a GalNAc ligand, siRNA molecules are delivered directly into hepatocytes, where they silence genes that have been identified as key risk factors for MASH by breaking down targeted mRNA. By pairing this precise gene-silencing approach with Rezdiffra, the company aims to explore whether reducing drivers of disease at the genetic level can complement Rezdiffra’s therapeutic effects. Madrigal currently has seven siRNA programs in its pipeline.

ARO-PNPLA3 is a GalNAc-conjugated siRNA designed to reduce expression of PNPLA3, a genetically validated driver of MASH. Mutations in the PNPLA3 gene have been shown to disrupt the liver’s ability to properly process fat. This leads to increased fat accumulation in hepatocytes, and is strongly associated with MASH progression and a high risk of developing hepatocellular carcinoma (HCC). The results of two Phase 1 trials suggested that a single dose of ARO-PNPLA3 reduced liver fat content in homozygous carriers of the PNPLA3 I148M variant, providing proof-of-concept for ARO-PNPLA3 as a precision-medicine approach in this patient population. Madrigal will consult with the FDA on design of a Phase 2 combination trial with Rezdiffra.

Deal Terms
Arrowhead has granted Madrigal an exclusive global license to develop, manufacture and commercialize ARO-PNPLA3. Arrowhead will receive an upfront payment of $25 million, additional payments of up to $975M if certain milestones are achieved and royalties on net sales.

About MASH
Metabolic dysfunction-associated steatohepatitis (MASH is a serious liver disease that can progress to cirrhosis, liver failure, liver cancer, the need for liver transplantation and premature mortality. MASH is the leading cause of liver transplantation in women and the second leading cause of all liver transplantation in the U.S., and the fastest-growing indication for liver transplantation in Europe.

Once patients progress to MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis), the risk of adverse liver outcomes increases dramatically: these patients have a 10 to 17 times higher risk of liver-related mortality as compared to patients without fibrosis.

Patients with MASH who progress to cirrhosis face a 42 times higher risk of liver-related mortality, underscoring the need to treat MASH before complications of cirrhosis develop. MASH is also an independent driver of cardiovascular disease, the leading cause of mortality for patients.

As disease awareness improves and disease prevalence increases, the number of diagnosed patients F2 to F4c MASH is growing.

About Rezdiffra 
What is Rezdiffra? 
Rezdiffra is a prescribed medicine used along with diet and exercise to treat adults with metabolic dysfunction-associated steatohepatitis (MASH) with moderate to advanced liver scarring (fibrosis), but not with cirrhosis of the liver.

This indication is approved based on improvement of MASH and liver scarring (fibrosis). There are ongoing studies to confirm the clinical benefit of Rezdiffra.

Before you take Rezdiffra, tell your healthcare provider about all of your medical conditions, including if you: 

have any liver problems other than MASH. have gallbladder problems or have been told you have gallbladder problems, including gallstones. are pregnant or plan to become pregnant. It is not known if Rezdiffra will harm your unborn baby.  A pregnancy safety study for women who take Rezdiffra during pregnancy collects information about the health of you and your baby. You or your healthcare provider can report your pregnancy by visiting https://pregnancyregistry.madrigalpharma.com/ or calling 1-800-905-0324. are breastfeeding or plan to breastfeed. It is not known if Rezdiffra passes into your breast milk. Talk to your healthcare provider about the best way to feed your baby if you take Rezdiffra. 
Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements. 

Rezdiffra and other medicines may affect each other, causing side effects. Rezdiffra may affect the way other medicines work, and other medicines may affect how Rezdiffra works. Especially tell your healthcare provider if you take medicines that contain gemfibrozil to help lower your triglycerides, because Rezdiffra is not recommended in patients taking these medicines. Tell your healthcare provider if you are taking medicines such as clopidogrel to thin your blood or statin medicines to help lower your cholesterol. Know the medicines you take. Keep a list of them to show your healthcare provider and pharmacist when you get a new medicine.  What are the possible side effects of Rezdiffra? 
Rezdiffra may cause serious side effects, including: 

liver injury (hepatotoxicity). Stop taking Rezdiffra and call your healthcare provider right away if you develop the following signs or symptoms of hepatotoxicity: tiredness, nausea, vomiting, fever, rash, your skin or the white part of your eyes turns yellow (jaundice) or stomach pain/tenderness. gallbladder problems. Gallbladder problems such as gallstones, or inflammation of the gallbladder, or inflammation of the pancreas from gallstones can occur with MASH and may occur if you take Rezdiffra. Call your healthcare provider right away if you develop any signs or symptoms of these conditions including nausea, vomiting, fever, or pain in your stomach area (abdomen) that is severe and will not go away. The pain may be felt going from your abdomen to your back and the pain may happen with or without vomiting. The most common side effects of Rezdiffra include: diarrhea, nausea, itching, stomach pain, vomiting, dizziness and constipation. 
These are not all the possible side effects of Rezdiffra. For more information, ask your healthcare provider or pharmacist.

 Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088 or

www.fda.gov/medwatch. You may also report side effects to Madrigal at 1-800-905-0324.

 Please see the full

Prescribing Information, including

Patient Information, for Rezdiffra. 

About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.

Forward-Looking Statements
This press release includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to Madrigal’s development goals and timelines for its pipeline candidates, the potential benefit of ARO-PNPLA3 in the treatment of MASH and Madrigal’s ability to advance its leadership position in MASH treatment. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; Madrigal’s ability to successfully commercialize Rezdiffra; risks of obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; the challenges with the commercial launch of a new product; Madrigal’s history of operating losses and the possibility that it may never achieve or maintain profitability; risks associated with meeting the objectives of Madrigal’s clinical trials, including, but not limited to Madrigal’s ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for Madrigal’s trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) or any product candidate’s mechanism of action; market demand for and acceptance of Rezdiffra; Madrigal’s ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitive trials; future topline data timing or results; Madrigal’s ability to prevent and/or mitigate cyber-attacks; the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; Madrigal’s ability to protect its intellectual property; and changes in laws and regulations applicable to Madrigal’s business and its ability to comply with such laws and regulations. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission (“SEC”), for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part I, Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 19, 2026, and as updated from time to time by Madrigal’s other filings with the SEC.

Madrigal may use its website to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Madrigal’s website in addition to following its press releases, filings with the SEC, public conference calls, and webcasts.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

Madrigal (MDGL - Free Report) came out with a quarterly loss of $3.25 per share versus the Zacks Consensus Estimate of a loss of $3.61. This compares to a loss of $3.32 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +9.97%. A quarter ago, it was expected that this biopharmaceutical company would post earnings of $0.04 per share when it actually produced a loss of $2.57, delivering a surprise of -6525%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Madrigal, which belongs to the Zacks Medical - Drugs industry, posted revenues of $311.34 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.38%. This compares to year-ago revenues of $137.25 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Madrigal shares have lost about 13.7% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for Madrigal?While Madrigal has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Madrigal was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.21 on $343.76 million in revenues for the coming quarter and -$5.49 on $1.47 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Stevanato Group (STVN - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.

This maker of glass vials for COVID-19 vaccines is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +9.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Stevanato Group's revenues are expected to be $312.91 million, up 15.9% from the year-ago quarter.

Key Takeaways MDGL posted Q1 revenues of $311.3M, fueled entirely by strong Rezdiffra sales growth in MASH.Rezdiffra reached 42,250 treated patients by March-end, up 2.5 times from Q1 2025 levels.Madrigal is advancing multiple late-stage Rezdiffra studies, with key data expected in 2027 and 2028. Madrigal Pharmaceuticals (MDGL - Free Report) reported first-quarter 2026 loss of $3.25 per share, narrower than the Zacks Consensus Estimate of a loss of $3.61. In the same quarter last year, the company had incurred a loss of $2.61 per share.

In the first quarter, MDGL generated total revenues of $311.3 million, up significantly year over year, entirely from product sales of its metabolic dysfunction-associated steatohepatitis (MASH) drug Rezdiffra (resmetirom), which was approved in 2024. The metric beat the Zacks Consensus Estimate of $301 million. Rezdiffra is the first marketed drug in MDGL’s portfolio, which was launched in April 2024 and posted significant year-over-year growth, driven by increased demand.

Madrigal shares gained 7.4% on Wednesday, as investors were impressed by the better-than-expected earnings results.

MDGL’s Q4 Results in DetailIn March 2024, the FDA granted accelerated approval to Rezdiffra, making it the first and currently the only approved therapy for the MASH indication. The eligible patient population includes adults with noncirrhotic MASH with moderate to advanced liver fibrosis. Rezdiffra has also received conditional approval as the first and only therapy in the EU to treat adults with noncirrhotic MASH with moderate-to-advanced liver fibrosis. Per Madrigal, more than 42,250patients are receiving the treatment as of March 31, 2026, up 2.5 times from first-quarter 2025, reflecting continued strong physician adoption and high patient demand.

During the quarter, research and development expenses more than doubled to $108.7 million in the first quarter of 2026. The massive increase can be primarily attributed to one-time, upfront business development expenses of $54.3 million.

Year to date, Madrigal shares have lost 7.3% against the industry’s 0.9% growth.

Image Source: Zacks Investment Research

Selling, general and administrative expenses also nearly doubled in the reported quarter to $268.5 million. This exponential rise was on account of increased commercial launch activities for Rezdiffra, including significant increases in headcount to support marketing efforts.

Madrigal had cash, cash equivalents and marketable securities worth $817.9 million as of March 31, 2026, compared with $988.6 million as of Dec. 31, 2025.

MDGL’s Pipeline & Other UpdatesAs the FDA and EU approved Rezdiffra under the accelerated pathway, the continued approval will be based on promising long-term safety and efficacy data from the pivotal phase III MAESTRO-NASH biopsy study. This late-stage study, which provided the data for the drug's accelerated approval for MASH, is ongoing as an outcomes study, with data expected in 2028. The goal is to generate confirmatory 54-month data to verify the drug's clinical benefits and support full approval for the noncirrhotic MASH indication.

In addition to the study, a second phase III outcomes study (MAESTRO-NASH OUTCOMES) is underway, evaluating the progression to liver decompensation events in patients with compensated MASH cirrhosis treated with Rezdiffra compared with placebo. Top-line data is expected in 2027. A positive outcome from this study is also expected to support the full approval of Rezdiffra for noncirrhotic MASH and expand the eligible patient population for Rezdiffra with an additional indication.

The open-label extension (OLE) arm of the MAESTRO-NAFLD-1 study is also currently evaluating the drug in patients with compensated MASH cirrhosis. In 2025, Madrigal reported positive two-year data from the OLE arm. The results reinforce Rezdiffra’s potential benefit for patients with compensated MASH cirrhosis and support the ongoing MAESTRO-NASH OUTCOMES study's potential success.

Earlier in 2026, Madrigal also added six preclinical siRNA programs to strengthen its pipeline and advance next-generation, genetically targeted MASH therapies alongside Rezdiffra. Such efforts demonstrate MDGL’s commitment to establishing the drug as the standard-of-care treatment for MASH.

Recently, Madrigal expanded its MASH pipeline through a licensing agreement with Arrowhead Pharmaceuticals for global rights to ARO-PNPLA3, a clinical-stage siRNA candidate targeting the genetically validated PNPLA3 mutation linked to MASH. The asset is aimed at a genetically defined patient population representing roughly 30% of moderate-to-advanced fibrosis cases, with phase I data showing up to a 46% reduction in liver fat after a single high dose in PNPLA3 homozygous patients.

MDGL’s Zacks Rank & Stocks to ConsiderMadrigal currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Catalyst Pharmaceuticals (CPRX - Free Report) , Immatics (IMTX - Free Report) and Inovio Pharmaceuticals (INO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 EPS have declined from $2.82 to $2.79. CPRX shares have gained 30.8% year to date.

Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.

Over the past 60 days, estimates for Immatics’ 2026 loss per share have narrowed from $1.61 to $1.49. IMTX shares have gained 9.6% year to date.

Immatics’ earnings beat estimates in three of the trailing four quarters and missed on the remaining occasion, delivering an average negative surprise of 8.06%.

Over the past 60 days, estimates for Inovio Pharmaceuticals’ 2026 loss per share have narrowed from $1.26 to $1.06. INO shares have plunged 28.8% year to date.

Inovio Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 57.94%.

Secondary analysis from the Phase 3 MAESTRO-NASH and MAESTRO-NAFLD-1 trials examines improvements in lipid profiles for Lp(a), LDL-C and ApoB with Rezdiffra® (resmetirom)Analysis of two-year data in patients with compensated MASH cirrhosis (F4c) examines improvement in ANTICIPATE-NASH risk scores, a marker for clinically significant portal hypertensionAdditional abstracts focus on early real-world evidence with Rezdiffra and the ability of noninvasive biomarkers to predict fibrosis improvement in patients treated with Rezdiffra CONSHOHOCKEN, Pa., May 20, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that multiple abstracts from its Rezdiffra development and real-world evidence programs will be presented at the European Association for the Study of the Liver (EASL) Congress 2026, taking place May 27–30 in Barcelona, Spain.

The presentations highlight the breadth of evidence supporting Rezdiffra, including a secondary analysis on cardiometabolic risk in patients with MASH, non-invasive risk stratification in patients with compensated cirrhosis and early real-world evidence from routine clinical practice.

“The body of data presented at EASL 2026 reinforces Madrigal’s leadership in MASH and clearly supports the continued integration of Rezdiffra into clinical practice as a foundational therapy,” said David Soergel, M.D., Chief Medical Officer of Madrigal. “These analyses extend beyond liver-focused assessments to explore Rezdiffra’s effects on markers of cardiovascular risk and provide important new insights about noninvasive measures of treatment response in patients with moderate to advanced fibrosis (F2-F3) and well-compensated MASH cirrhosis (F4c).”

Madrigal Poster Presentations at the EASL Congress 2026:

TitlePresenterReducing CV risk in patients with MASH independent of baseline based on Lp(a) and LDL lowering by resmetiromMeena BansalBaseline ANTICIPATE score and response predicts liver outcome events in a 180 patient MASH cirrhosis cohort treated with resmetiromNaim AlkhouriIn F0-F1 and F2-F3 MASH, ≥5% weight loss significantly lowers VCTE and ELF independent of biopsy fibrosis improvement; resmetirom and not placebo reduction of ELF and VCTE are associated with biopsy improvement of fibrosis, independent of weight lossRohit LoombaEarly real-world effectiveness of resmetirom in adults with metabolic dysfunction associated steatohepatitis and moderate-to-advanced fibrosisNaim AlkhouriTwelve-month changes in liver function enzymes and lipids in patients receiving resmetiromChristina ParrinelloNon-invasive test-driven modeling of patient eligibility for resmetirom therapy in MASLD: Data from the German SLD-RegistryMaurice MichelEarly and Week 52 biomarker (MRI-PDFF, ALT, MRE and PRO-C3) responses to resmetirom predict improvements in MASH and liver fibrosisRohit LoombaMachine learning models of non-invasive tests to predict MASH and fibrosis stage based on MAESTRO-NAFLD-1 and MAESTRO-NASH liver biopsiesRohit Loomba Rezdiffra (resmetirom) is a once-daily, oral, liver-directed thyroid hormone receptor (THR)-β agonist designed to address key underlying causes of MASH. It was the first medication approved for the treatment of MASH in the U.S. and Europe. In the pivotal Phase 3 MAESTRO-NASH biopsy trial, Rezdiffra achieved both fibrosis improvement and MASH resolution primary endpoints. Rezdiffra also reduced liver stiffness, liver fat, liver enzymes and atherogenic lipids in the MAESTRO-NASH trial and improved health-related quality of life. At one year, 91% of patients treated with Rezdiffra 100mg achieved improvement or stabilization of liver stiffness as measured by vibrational-controlled transient elastography (VCTE), a test that is frequently used to monitor treatment response in clinical practice.

Rezdiffra is indicated in conjunction with diet and exercise for the treatment of adults with noncirrhotic MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis). Continued approval for this indication may be contingent upon verification and description of clinical benefit in ongoing confirmatory trials. Rezdiffra is not approved in any geography for the treatment of patients with cirrhosis.

About MASH
Metabolic dysfunction-associated steatohepatitis (MASH) is a serious liver disease that can progress to cirrhosis, liver failure, liver cancer, the need for liver transplantation and premature mortality. MASH is the leading cause of liver transplantation in women and the second leading cause of all liver transplantation in the U.S., and the fastest-growing indication for liver transplantation in Europe.

Once patients progress to MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis), the risk of adverse liver outcomes increases dramatically: these patients have a 10 to 17 times higher risk of liver-related mortality as compared to patients without fibrosis.

Patients with MASH who progress to cirrhosis face a 42 times higher risk of liver-related mortality, underscoring the need to treat MASH before complications of cirrhosis develop. MASH is also an independent driver of cardiovascular disease, the leading cause of mortality for patients.

As disease awareness improves and disease prevalence increases, the number of diagnosed patients F2 to F4c MASH is growing.

About Rezdiffra
What is Rezdiffra?
Rezdiffra is a prescribed medicine used along with diet and exercise to treat adults with metabolic dysfunction-associated steatohepatitis (MASH) with moderate to advanced liver scarring (fibrosis), but not with cirrhosis of the liver.

This indication is approved based on improvement of MASH and liver scarring (fibrosis). There are ongoing studies to confirm the clinical benefit of Rezdiffra.

Before you take Rezdiffra, tell your healthcare provider about all of your medical conditions, including if you:

have any liver problems other than MASH.have gallbladder problems or have been told you have gallbladder problems, including gallstones.are pregnant or plan to become pregnant. It is not known if Rezdiffra will harm your unborn baby. A pregnancy safety study for women who take Rezdiffra during pregnancy collects information about the health of you and your baby. You or your healthcare provider can report your pregnancy by visiting https://pregnancyregistry.madrigalpharma.com/ or calling 1-800-905-0324. are breastfeeding or plan to breastfeed. It is not known if Rezdiffra passes into your breast milk. Talk to your healthcare provider about the best way to feed your baby if you take Rezdiffra.
Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.

Rezdiffra and other medicines may affect each other, causing side effects. Rezdiffra may affect the way other medicines work, and other medicines may affect how Rezdiffra works.Especially tell your healthcare provider if you take medicines that contain gemfibrozil to help lower your triglycerides, because Rezdiffra is not recommended in patients taking these medicines.Tell your healthcare provider if you are taking medicines such as clopidogrel to thin your blood or statin medicines to help lower your cholesterol.Know the medicines you take. Keep a list of them to show your healthcare provider and pharmacist when you get a new medicine. What are the possible side effects of Rezdiffra?
Rezdiffra may cause serious side effects, including:

liver injury (hepatotoxicity). Stop taking Rezdiffra and call your healthcare provider right away if you develop the following signs or symptoms of hepatotoxicity: tiredness, nausea, vomiting, fever, rash, your skin or the white part of your eyes turns yellow (jaundice) or stomach pain/tenderness.gallbladder problems. Gallbladder problems such as gallstones, or inflammation of the gallbladder, or inflammation of the pancreas from gallstones can occur with MASH and may occur if you take Rezdiffra. Call your healthcare provider right away if you develop any signs or symptoms of these conditions including nausea, vomiting, fever, or pain in your stomach area (abdomen) that is severe and will not go away. The pain may be felt going from your abdomen to your back and the pain may happen with or without vomiting.The most common side effects of Rezdiffra include: diarrhea, nausea, itching, stomach pain, vomiting, dizziness and constipation.
These are not all the possible side effects of Rezdiffra. For more information, ask your healthcare provider or pharmacist.

Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. You may also report side effects to Madrigal at 1-800-905-0324.

Please see the full Prescribing Information, including Patient Information, for Rezdiffra.

About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.

Forward-Looking Statements
This press release includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to Rezdiffra’s effects on markers of cardiovascular risk and the potential benefit of Rezdiffra in patients with compensated MASH cirrhosis. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; our ability to successfully commercialize Rezdiffra in the U.S. and Europe; risks related to obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; our history of operating losses and the possibility that we may never achieve or maintain profitability; risks associated with meeting the objectives of our clinical trials, including, but not limited to our ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for our trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) mechanism of action or of any other product candidate; market demand for and acceptance of Rezdiffra; our ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitors; future topline data timing or results; our ability to prevent and/or mitigate cyber-attacks; our ability to protect our intellectual property rights; the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; and changes in laws and regulations applicable to our business and our ability to comply with such laws and regulations. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission (SEC) for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, and as updated from time to time by Madrigal’s other filings with the SEC.

Madrigal may use its website to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Madrigal’s website in addition to following its press releases, filings with the SEC, public conference calls, and webcasts.

Madrigal Pharmaceuticals, Rezdiffra® and associated logos are trademarks of Madrigal Pharmaceuticals, Inc.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

Growing body of clinical and real-world evidence supports the role of Rezdiffra® (resmetirom) as the foundational therapy for patients with MASH Rezdiffra improved atherogenic lipid profiles associated with cardiovascular risk, including LDL-C, ApoB and Lp(a), in a secondary analysis from the Phase 3 MAESTRO program In patients with well-compensated MASH cirrhosis (F4c), Rezdiffra improved a risk score – ANTICIPATE-NASH – that predicts the probability of experiencing severe liver-related eventsMultiple real-world analyses evaluating the use of Rezdiffra in routine clinical practice demonstrated early and sustained improvements in cardiometabolic parameters, liver-related biomarkers, and liver stiffness measurements; 49% of patients achieved ≥25% reduction in liver stiffness over a nine-month follow-up period CONSHOHOCKEN, Pa., May 27, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced new analyses of Phase 3 data and real-world evidence demonstrating Rezdiffra reduced markers of cardiovascular and liver-related risk in patients with MASH. The data are featured across eight poster presentations at the European Association for the Study of the Liver (EASL) Congress 2026, taking place May 27-30 in Barcelona, Spain.

“New analyses from the Phase 3 MAESTRO program and a growing body of real-world evidence reinforce Rezdiffra’s position as the foundational therapy for MASH,” said David Soergel, M.D., Chief Medical Officer of Madrigal. “The data we are presenting at the EASL Congress give us new insight into Rezdiffra’s potential to reduce clinically significant portal hypertension risk in patients with well-compensated MASH cirrhosis, a population with no approved therapies. Additionally, we continue to generate evidence supporting the medication’s broad and consistent effects on key biomarkers used to monitor treatment response in everyday clinical practice, as well as markers of cardiovascular risk.”

“Cardiovascular disease is the leading cause of death in people with MASH, so the secondary analysis from the Phase 3 MAESTRO program demonstrating that Rezdiffra improved LDL-C, ApoB and Lp(a) is highly relevant for clinicians and patients,” said Meena B. Bansal, M.D., F.A.A.S.L.D., System Chief, Division of Liver Diseases Director, MASH/NASH Center of Excellence, Icahn School of Medicine at Mount Sinai. “Patients achieved key MASH endpoints and significant improvements in multiple atherogenic lipids and lipoproteins regardless of baseline statin use. This is particularly important because statins are not known to meaningfully lower certain lipoproteins such as Lp(a). These results suggest Rezdiffra may provide additional cardiometabolic benefit for patients with MASH, whether or not they are receiving statin therapy. Further research is warranted to evaluate Rezdiffra’s potential to improve cardiovascular outcomes in patients with MASH.”

Key Madrigal Data Presentations at the EASL Congress 2026

Poster Presentation: Reducing CV risk in patients with MASH independent of baseline statin use: Lp(a) and LDL lowering by resmetirom [Abstract # ID-FRI-149, Presenter: Meena B. Bansal]

Data from a secondary analysis of the Phase 3 MAESTRO-NASH and MAESTRO-NAFLD-1 trials demonstrated that Rezdiffra improved key histologic MASH endpoints and significantly reduced multiple atherogenic lipids and lipoproteins associated with cardiovascular risk, including LDL-C and Lp(a), regardless of baseline statin use.

Among statin-treated patients (n=473) receiving Rezdiffra 100mg:

44.4% of patients with baseline LDL-C ≥70mg/dL shifted to <70mg/dL at week 52.50.0% of patients with baseline LDL-C ≥100mg/dL shifted to <100mg/dL at week 52.Among patients with elevated baseline Lp(a), 36.3% of patients with baseline Lp(a) ≥30mg/dL and 37.5% of patients with baseline Lp(a) ≥50mg/dL shifted below those thresholds.No significant statin-related safety signals were observed. Among patients receiving Rezdiffra 100mg and no statins (n=493):

13.8% of patients with baseline LDL-C ≥70mg/dL shifted to <70mg/dL at week 52.51.5% of patients with baseline LDL-C ≥100mg/dL shifted to <100mg/dL at week 52.Among patients with elevated baseline Lp(a), 45.4% of patients with baseline Lp(a) ≥30mg/dL and 62.5% of patients with baseline Lp(a) ≥50mg/dL shifted below those thresholds. These findings support the concomitant use of Rezdiffra with statin therapy and suggest the potential for Rezdiffra to address both liver disease and cardiometabolic risk in patients with MASH.

EASL Top Poster: Baseline ANTICIPATE score and response predicts liver outcome events in a 180 patient MASH cirrhosis cohort treated with resmetirom [Abstract # ID-TOP-177, Presenter: Naim Alkhouri]

In patients with compensated MASH cirrhosis, clinically significant portal hypertension (CSPH) is a key driver of disease progression and severe liver-related complications. While Baveno criteria are used to identify patients likely to have CSPH, ANTICIPATE-NASH is a noninvasive risk stratification model developed for MASH that integrates liver stiffness measurements, platelet count and body mass index (BMI) to estimate future CSPH risk and predict the likelihood of liver-related events over the subsequent three years.

The ANTICIPATE-NASH risk model was applied to the open-label extension (OLE) cohort from the MAESTRO-NAFLD-1 trial, which included patients with well-compensated MASH cirrhosis (F4c) treated with Rezdiffra for up to two years. Results demonstrated progressive improvements in ANTICIPATE-NASH risk scores over time:

The proportion of patients classified as high risk for CSPH decreased from 75% at baseline to 60.3% at Year 1 and 54.5% at Year 2.Mean ANTICIPATE-NASH scores declined by up to 37.6% over two years of treatment.Liver-related events were infrequent and occurred exclusively in patients with baseline ANTICIPATE-NASH scores associated with elevated CSPH risk. These findings support the potential use of ANTICIPATE-NASH as a risk stratification tool to identify patients with a high-risk of disease progression, informing prognosis and clinical decision-making.

Additional Poster Presentations (Real-World Data):

Early real-world effectiveness of resmetirom in adults with metabolic dysfunction associated steatohepatitis and moderate-to-advanced- fibrosis [Abstract #ID-FRI-141, Presenter: Naim Alkhouri]Twelve-month changes in liver function enzymes and lipids in patients receiving resmetirom [Abstract # ID-FRI-186, Presenter: Anthony Martinez]Non-invasive test-driven modeling of patient eligibility for resmetirom therapy in MASLD: Data from the German SLD-Registry [Abstract #ID-WED-155, Presenter: Maurice Michel] Multiple real-world studies evaluating patients treated with Rezdiffra for up to 12 months in routine clinical practice are also being presented at EASL. Collectively, these studies demonstrated that patients achieved clinically meaningful improvements in biomarkers of liver disease and cardiometabolic risk. Improvements were observed as early as approximately six months following treatment initiation and sustained through approximately 12 months. Rezdiffra was generally well tolerated, with low rates of treatment-related adverse events and discontinuations reported in routine clinical practice.

Abstract #ID-FRI-141: In an analysis of data from a large gastroenterology practice, Rezdiffra use was associated with clinically meaningful improvements in laboratory and non-invasive clinical measures. Over a mean follow-up period of approximately nine months, 48.6% of patients achieved ≥25% reduction in liver stiffness, a key measure of treatment response. Rezdiffra was well tolerated in this analysis, and discontinuation due to treatment-related adverse events was <1%.Abstract # ID-FRI-186: In another electronic health record analysis of 728 patients treated with Rezdiffra over 12 months, statistically significant reductions in ALT and AST were observed; these reductions in liver enzymes were consistent across all subgroups, irrespective of baseline type 2 diabetes status, obesity, GLP-1 and statin use. LDL-C levels also decreased significantly in the overall cohort and showed directional reductions across all subgroups.Abstract #ID-WED-155: A prospective registry study (Germany Steatotic Liver Disease [SLD]) aimed to characterize patients eligible for Rezdiffra treatment based on noninvasive tests (NITs) in a real-world cohort in Germany. Of the 1,308 patients analyzed, approximately one in five met the criteria for treatment. The treatment-eligible cohort showed a higher distribution of three or more metabolic comorbidities simultaneously. Identification of such patients using NITs such as liver stiffness may support risk stratification and inform treatment strategies in routine clinical practice. About Rezdiffra
Rezdiffra (resmetirom) is a once-daily, oral, liver-directed thyroid hormone receptor (THR)-β agonist designed to address key underlying causes of MASH. It was the first medication approved for the treatment of MASH in the U.S. and Europe. In the pivotal Phase 3 MAESTRO-NASH biopsy trial, Rezdiffra achieved both fibrosis improvement and MASH resolution primary endpoints. Rezdiffra also reduced liver stiffness, liver fat, liver enzymes and atherogenic lipids in the MAESTRO-NASH trial and improved health-related quality of life. At one year, 91% of patients treated with Rezdiffra 100mg achieved improvement or stabilization of liver stiffness.

Rezdiffra is indicated in conjunction with diet and exercise for the treatment of adults with noncirrhotic MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis). Continued approval for this indication may be contingent upon verification and description of clinical benefit in ongoing confirmatory trials. Rezdiffra is not approved in any geography for the treatment of patients with cirrhosis.

About MASH
Metabolic dysfunction-associated steatohepatitis (MASH) is a serious liver disease that can progress to cirrhosis, liver failure, liver cancer, the need for liver transplantation and premature mortality. MASH is the leading cause of liver transplantation in women and the second leading cause of all liver transplantation in the U.S., and the fastest-growing indication for liver transplantation in Europe.

Once patients progress to MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis), the risk of adverse liver outcomes increases dramatically: these patients have a 10 to 17 times higher risk of liver-related mortality as compared to patients without fibrosis.

Patients with MASH who progress to cirrhosis face a 42 times higher risk of liver-related mortality, underscoring the need to treat MASH before complications of cirrhosis develop. MASH is also an independent driver of cardiovascular disease, the leading cause of mortality for patients.

As disease awareness improves and disease prevalence increases, the number of diagnosed patients with F2 to F4c MASH is growing.

What is Rezdiffra?
Rezdiffra is a prescribed medicine used along with diet and exercise to treat adults with metabolic dysfunction-associated steatohepatitis (MASH) with moderate to advanced liver scarring (fibrosis), but not with cirrhosis of the liver.

This indication is approved based on improvement of MASH and liver scarring (fibrosis). There are ongoing studies to confirm the clinical benefit of Rezdiffra.

Before you take Rezdiffra, tell your healthcare provider about all of your medical conditions, including if you:

have any liver problems other than MASH.have gallbladder problems or have been told you have gallbladder problems, including gallstones.are pregnant or plan to become pregnant. It is not known if Rezdiffra will harm your unborn baby. A pregnancy safety study for women who take Rezdiffra during pregnancy collects information about the health of you and your baby. You or your healthcare provider can report your pregnancy by visiting https://pregnancyregistry.madrigalpharma.com/ or calling 1-800-905-0324. are breastfeeding or plan to breastfeed. It is not known if Rezdiffra passes into your breast milk. Talk to your healthcare provider about the best way to feed your baby if you take Rezdiffra. Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.

Rezdiffra and other medicines may affect each other, causing side effects. Rezdiffra may affect the way other medicines work, and other medicines may affect how Rezdiffra works.Especially tell your healthcare provider if you take medicines that contain gemfibrozil to help lower your triglycerides, because Rezdiffra is not recommended in patients taking these medicines.Tell your healthcare provider if you are taking medicines such as clopidogrel to thin your blood or statin medicines to help lower your cholesterol.Know the medicines you take. Keep a list of them to show your healthcare provider and pharmacist when you get a new medicine. What are the possible side effects of Rezdiffra?
Rezdiffra may cause serious side effects, including:

liver injury (hepatotoxicity). Stop taking Rezdiffra and call your healthcare provider right away if you develop the following signs or symptoms of hepatotoxicity: tiredness, nausea, vomiting, fever, rash, your skin or the white part of your eyes turns yellow (jaundice) or stomach pain/tenderness.gallbladder problems. Gallbladder problems such as gallstones, or inflammation of the gallbladder, or inflammation of the pancreas from gallstones can occur with MASH and may occur if you take Rezdiffra. Call your healthcare provider right away if you develop any signs or symptoms of these conditions including nausea, vomiting, fever, or pain in your stomach area (abdomen) that is severe and will not go away. The pain may be felt going from your abdomen to your back and the pain may happen with or without vomiting.The most common side effects of Rezdiffra include: diarrhea, nausea, itching, stomach pain, vomiting, dizziness and constipation. These are not all the possible side effects of Rezdiffra. For more information, ask your healthcare provider or pharmacist.

Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. You may also report side effects to Madrigal at 1-800-905-0324.

Please see the full Prescribing Information, including Patient Information, for Rezdiffra.

About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.

Forward-Looking Statements
This press release includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to Rezdiffra’s ability to potentially improve cardiovascular outcomes in patients with MASH and the potential benefit of Rezdiffra in patients with compensated MASH cirrhosis. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; our ability to successfully commercialize Rezdiffra in the U.S. and Europe; risks related to obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; our history of operating losses and the possibility that we may never achieve or maintain profitability; risks associated with meeting the objectives of our clinical trials, including, but not limited to our ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for our trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) mechanism of action or of any other product candidate; market demand for and acceptance of Rezdiffra; our ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitors; future topline data timing or results; our ability to prevent and/or mitigate cyber-attacks; our ability to protect our intellectual property rights; the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; and changes in laws and regulations applicable to our business and our ability to comply with such laws and regulations. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission (SEC) for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part 1A of its Annual Report on Form 10-K for the year ended December 31, 2025, and as updated from time to time by Madrigal’s other filings with the SEC.

Madrigal may use its website to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Madrigal’s website in addition to following its press releases, filings with the SEC, public conference calls, and webcasts.

Madrigal Pharmaceuticals, Rezdiffra® and associated logos are trademarks of Madrigal Pharmaceuticals, Inc.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

June 03, 2026 08:00 ET  | Source: Madrigal Pharmaceuticals, Inc.

CONSHOHOCKEN, Pa., June 03, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) today announced that the company will participate in the 47th Annual Global Goldman Sachs Health Care Conference 2026 on Wednesday, June 10, 2026, at 11:20 A.M. EDT.

The presentation will be webcast live and may be accessed here or by visiting Madrigal’s Investor Relations Events and Presentations page. A replay of the webcast will be available after the event.

About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra was the first medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com and follow us on LinkedIn.

Investor Contact
Tina Ventura, [email protected]

Media Contact
Christopher Frates, [email protected]

A month has gone by since the last earnings report for Madrigal (MDGL - Free Report) . Shares have lost about 7.9% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Madrigal due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Madrigal Pharmaceuticals, Inc. before we dive into how investors and analysts have reacted as of late.

Madrigal Q1 Earnings Beat, MASH Drug Sales Drive Top Line, Stock UpMadrigal reported first-quarter 2026 loss of $3.25 per share, narrower than the Zacks Consensus Estimate of a loss of $3.61. In the same quarter last year, the company had incurred a loss of $2.61 per share.

In the first quarter, MDGL generated total revenues of $311.3 million, up significantly year over year, entirely from product sales of Rezdiffra. The metric beat the Zacks Consensus Estimate of $301 million. Rezdiffra is the first marketed drug in MDGL’s portfolio and posted significant year-over-year growth, driven by increased demand.

MDGL’s Q4 Results in DetailIn March 2024, the FDA granted accelerated approval to Rezdiffra, making it the first and currently the only approved therapy for the MASH indication. The eligible patient population includes adults with noncirrhotic MASH with moderate to advanced liver fibrosis. Rezdiffra has also received conditional approval as the first and only therapy in the EU to treat adults with noncirrhotic MASH with moderate-to-advanced liver fibrosis. Per Madrigal, more than 42,250patients are receiving the treatment as of March 31, 2026, up 2.5 times from first-quarter 2025, reflecting continued strong physician adoption and high patient demand.

During the quarter, research and development expenses more than doubled to $108.7 million in the first quarter of 2026. The massive increase can be primarily attributed to one-time, upfront business development expenses of $54.3 million.

Selling, general and administrative expenses also nearly doubled in the reported quarter to $268.5 million. This exponential rise was on account of increased commercial launch activities for Rezdiffra, including significant increases in headcount to support marketing efforts.

Madrigal had cash, cash equivalents and marketable securities worth $817.9 million as of March 31, 2026, compared with $988.6 million as of Dec. 31, 2025.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -68.41% due to these changes.

VGM ScoresAt this time, Madrigal has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Madrigal has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.