Madrigal posts Q1 net loss of ~$147.5M as Rezdiffra launch ramps up

MADRIGAL PHARMACEUTICALS, INC.

2024-Q1 EPS reported -$7.38

Rezdiffra received FDA accelerated approval on March 14, 2024; first shipments to patients began in April.
No Q1 revenue; operating expenses of $152.0M (up 94% YoY) due to commercial preparation and headcount.
Cash, cash equivalents and marketable securities of $1.1B after $690M gross proceeds from public offering.
Appointed Mardi C. Dier as CFO on February 28, 2024.
European MAA for resmetirom validated and under EMA review.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MADRIGAL PHARMACEUTICALS, INC. reported financial results for first-quarter 2024.

Period: first-quarter 2024
Result: reported results

Exact text from the filing

On May 7, 2024, Madrigal Pharmaceuticals, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the fiscal quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001193125-24-132559

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