---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-048525"
form_type: "8-K"
ticker: "MDGL"
cik: "0001157601"
company_name: "MADRIGAL PHARMACEUTICALS, INC."
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:33:04.723886+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Madrigal Q3 2025 Rezdiffra sales $287.3M, annualizing >$1B; licenses oral GLP-1

## Summary
- Rezdiffra net sales $287.3M in Q3 2025 vs $62.2M YoY; >29,500 patients on therapy.
- Operating expenses $401.2M (R&D $174M incl upfront for CSPC, SG&A $209.1M).
- Cash $1.1B; licensed global rights to oral GLP-1 (MGL-2086) from CSPC; clinic entry H1 2026.
- New Orange Book patent for Rezdiffra covering weight-threshold dosing into 2045.
- Launched Rezdiffra in Germany after EC conditional approval in August 2025.

## SEC filing metadata
- accession: 0001628280-25-048525
- form_type: 8-K
- ticker: MDGL
- cik: 0001157601
- company_name: MADRIGAL PHARMACEUTICALS, INC.
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1157601/000162828025048525/0001628280-25-048525-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1157601/000162828025048525/mdgl-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-048525
- JSON: https://secwatch.observer/filing/0001628280-25-048525.json
- Plain text: https://secwatch.observer/filing/0001628280-25-048525.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.