Madrigal Pharmaceuticals

Madrigal Pharmaceuticals reports $62.2M in Q3 2024 revenues, driven by Rezdiffra's strong U.S. launch. Operating expenses rose to $178.5M, with R&D at $68.7M and SG&A at $107.6M. Cash, cash equivalents, restricted cash, and marketable securities totaled $1.0B. Enrollment completed for clinical outcomes study in compensated NASH/MASH cirrhosis, with potential for full approval and broader indication for Rezdiffra.

Madrigal Pharmaceuticals reports Q3 2024 net sales of $62.2 million, achieving Rezdiffra coverage for 80% of commercial lives early. Completed enrollment in MAESTRO-NASH OUTCOMES trial, appointed Dr. Michael Charlton as SVP of Clinical Development, and published positive health-related quality of life data in Hepatology. Cash, cash equivalents, restricted cash, and marketable securities totaled $1.0 billion as of September 30, 2024. The company plans to host a conference call on October 31, 2024.

Madrigal Pharmaceuticals reports Q3 2024 net sales of $62.2 million, early achievement of Rezdiffra™ coverage goal (80% commercial lives), and completed enrollment in Rezdiffra's clinical outcomes study for compensated NASH/MASH cirrhosis. Cash, cash equivalents, restricted cash, and marketable securities total $1.0 billion as of September 30, 2024.

Madrigal Pharmaceuticals reports Q3 2024 net sales of $62.2 million, with Rezdiffra™ coverage goal achieved early, covering over 80% of commercial lives; less than 5% require biopsy. Enrollment completed for clinical outcomes study of Rezdiffra in compensated NASH/MASH cirrhosis. Cash, cash equivalents, restricted cash, and marketable securities total $1.0 billion as of September 30, 2024. Company to host conference call on October 31, 2024.

Madrigal Pharmaceuticals completes enrollment for MAESTRO-NASH OUTCOMES trial, evaluating resmetirom for NASH cirrhosis. The Phase 3 trial involves 845 patients and aims to measure liver decompensation progression. Positive 52-week data from MAESTRO-NAFLD-1 supports the trial. Resmetirom has received accelerated approval for NASH with moderate to advanced fibrosis. Madrigal aims to shape NASH treatment over the next decade.

Inventiva secures up to €348m ($380m) to complete Phase III trial for lanifibranor in MASH, with $103.4m immediate and $30m in milestone payments. Lanifibranor, an orally administered PPAR agonist, aims to treat MASH and F2/F3 liver fibrosis, with trial expected to conclude in H2 2026. The financing reflects investor confidence in lanifibranor's potential as a breakthrough therapy for MASH.

Madrigal Pharmaceuticals' Rezdiffra, approved in March, is the first treatment for metabolic dysfunction-associated steatohepatitis (MASH), affecting over 115 million globally. Since April, Rezdiffra sales have exceeded expectations, generating $14.6 million in the U.S. during Q2 2024. Madrigal focuses on 315,000 diagnosed MASH patients with moderate to advanced liver fibrosis, underlining a targeted marketing strategy. The 'Way Forward' campaign aims to educate patients about MASH's severity and the availability of Rezdiffra, using digital ads and patient testimonials. Madrigal plans to commercialize Rezdiffra in Europe, with EMA approval expected in mid-2025.