Madrigal submits resmetirom NDA for NASH; cash $298.4M as of June 30

MADRIGAL PHARMACEUTICALS, INC.

Resmetirom NDA submitted to FDA for accelerated approval of NASH with liver fibrosis.
Cash, cash equivalents and marketable securities $298.4M at June 30, 2023, down from $358.8M at Dec 31, 2022.
Operating expenses for six months ended June 30, 2023: $164.8M (R&D $130.8M, G&A $34.0M), up from $127.9M in prior year.
Interest income $7.3M and interest expense $5.2M for six months; cash used in operations $159.4M.
ICER final report indicates resmetirom may be cost-effective for at-risk NASH; disease education campaigns launched.

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