Earnings summaries and quarterly performance for MADRIGAL PHARMACEUTICALS.
Executive leadership at MADRIGAL PHARMACEUTICALS.
BS
Bill Sibold
Detailed
President and Chief Executive Officer
CEO
CH
Carole Huntsman
Detailed
Executive Vice President and Chief Commercial Officer
DS
David Soergel
Detailed
Executive Vice President and Chief Medical Officer
MD
Mardi Dier
Detailed
Executive Vice President and Chief Financial Officer
SK
Shannon Kelley
Detailed
Executive Vice President and Chief Legal Counsel
Board of directors at MADRIGAL PHARMACEUTICALS.
Research analysts who have asked questions during MADRIGAL PHARMACEUTICALS earnings calls.
Jay Olson
Oppenheimer & Co. Inc.
7 questions for MDGL
Also covers: ACAD, AMGN, BIIB +23 more
Prakhar Agrawal
Cantor Fitzgerald
7 questions for MDGL
Also covers: ARDX, ARWR, IMVT +5 more
RB
Ritu Baral
TD Cowen
7 questions for MDGL
Also covers: ACAD, ALNY, ATAI +11 more
TS
Thomas Smith
Leerink Partners
7 questions for MDGL
Also covers: ACRS, ARGX, CLDX +7 more
YR
Yasmeen Rahimi
Piper Sandler & Co.
7 questions for MDGL
Also covers: ALT, ARCT, CRNX +12 more
Akash Tewari
Jefferies
5 questions for MDGL
Also covers: ALKS, APLS, ARGX +15 more
AN
Andrea Newkirk
Goldman Sachs
5 questions for MDGL
Also covers: ABCL, ALKS, ARWR +9 more
Michael DiFiore
Evercore ISI
4 questions for MDGL
Also covers: AMGN, AMLX, BIIB +9 more
Andy Chen
Wolfe Research, LLC
3 questions for MDGL
Also covers: ARGX, CRNX, IMVT +7 more
EM
Eliana Merle
UBS
3 questions for MDGL
Also covers: ALNY, APLS, ARVN +17 more
EM
Ellie Merle
UBS Group AG
3 questions for MDGL
Also covers: ALNY, ALT, ARVN +12 more
EG
Emma Gutstein
Wolfe Research
3 questions for MDGL
Also covers: ROIV
KP
Kaveri Pohlman
BTIG, LLC
3 questions for MDGL
Also covers: MGNX, NUVB, RCUS +3 more
Liisa Bayko
Evercore ISI
3 questions for MDGL
Also covers: ALT, BCRX, INSM +7 more
Alex Thompson
Stifel Financial Corp.
2 questions for MDGL
Also covers: ARGX, ASND, CRNX +3 more
JW
Jonathan Wolleben
JMP Securities, a Citizens Company
2 questions for MDGL
Also covers: ALT, BCRX, CLSD +6 more
JW
Jon Wolleben
Citizen JMP
2 questions for MDGL
Also covers: BCRX, CLSD, CRNX +4 more
MG
Manoj Garg
Jefferies
2 questions for MDGL
Mayank Mamtani
B. Riley Securities
2 questions for MDGL
Also covers: AGEN, ALT, ARWR +18 more
SD
Srikripa Devarakonda
Truist Financial Corporation
2 questions for MDGL
Also covers: ABCL, ABSI, AFMD +12 more
WW
William Wood
B. Riley Securities
2 questions for MDGL
Also covers: ALT, GUTS, IMUX +6 more
AL
Amy Li
Jefferies Financial Group Inc.
1 question for MDGL
Also covers: ARGX, IRWD, JAZZ
AT
Andrea Tan
Goldman Sachs
1 question for MDGL
Also covers: ABCL, ARWR, DAWN +3 more
Catherine Okoukoni
Citizens JMP
1 question for MDGL
Also covers: ALT, CRNX, KALV +2 more
DL
David Lebowitz
Citigroup Inc.
1 question for MDGL
Also covers: ALNY, ARWR, ASND +11 more
E
Emma
Piper Sandler
1 question for MDGL
Also covers: NTLA
JW
John Walleban
Citizens JMP Securities
1 question for MDGL
JW
John Wolleben
JMP Securities
1 question for MDGL
Also covers: SRPT
N
Nicole
TD Cowen
1 question for MDGL
Recent press releases and 8-K filings for MDGL.
Madrigal Pharmaceuticals Reports Strong Rezdiffra Sales and MASH Market Expansion in Q4 2025
MDGL
Earnings
Product Launch
New Projects/Investments
- Rezdiffra net sales reached $321.1 million in Q4 2025, contributing to $958.4 million in net sales for the full year 2025, nearly achieving $1 billion in its first full year of launch.
- The number of patients on Rezdiffra grew to over 36,250 by Q4 2025, while the F2/F3 MASH target market expanded to 460,000 by year-end 2025, up from 315,000 at year-end 2023.
- Madrigal anticipates robust Rezdiffra net sales growth in 2026 and expects F4c outcomes trial data in 2027, which could double the market opportunity by expanding the indication to compensated MASH cirrhosis.
- The company is actively building its pipeline with over 10 programs, including new modalities like siRNA targets, an oral DGAT-2 inhibitor, and an oral GLP-1, leveraging Rezdiffra as the foundational therapy.
Feb 19, 2026, 1:00 PM
Madrigal Pharmaceuticals Reports Strong Q4 and Full-Year 2025 Rezdiffra Sales and Pipeline Expansion
MDGL
Earnings
Product Launch
New Projects/Investments
- Madrigal Pharmaceuticals reported Q4 2025 net sales of $321 million and full-year 2025 net sales of $958 million for Rezdiffra, with over 36,250 patients on the therapy by the end of Q4 2025.
- The company anticipates robust net sales growth in 2026, projecting the full-year gross to net impact to be in the high 30% range, an increase from the low end of 20%-30% in 2025 due to new payer agreements.
- R&D expenses for Q4 and full-year 2025 were $116.3 million and $388.5 million, respectively, with 2026 R&D expenses expected to be similar to 2025. SG&A expenses for the same periods were $240 million and $813.8 million, and are projected to increase in 2026.
- Madrigal ended Q4 2025 with $988.6 million in cash and has expanded its pipeline to more than 10 programs through recent acquisitions, extending Rezdiffra's patent exclusivity to 2045.
Feb 19, 2026, 1:00 PM
Madrigal Pharmaceuticals Reports Strong Rezdiffra Sales and Pipeline Expansion in Q4 2025
MDGL
Earnings
Product Launch
New Projects/Investments
- Madrigal Pharmaceuticals reported Rezdiffra net sales of $321.1 million for Q4 2025 and $958.4 million for the full year 2025, marking its first full year on the market.
- The company ended Q4 2025 with over 36,250 patients on Rezdiffra, an increase from over 29,500 patients at the end of Q3 2025, while the U.S. MASH market has grown nearly 50% since the end of 2023 and is projected to continue growing at a double-digit pace.
- Madrigal expanded its pipeline to more than 10 programs, including new assets such as an oral GLP-1 and a late-stage DGAT-2 inhibitor, and concluded Q4 2025 with a strong cash position of $988.6 million.
- For 2026, the company expects robust net sales growth for Rezdiffra, despite an anticipated increase in the full year gross to net impact to the high 30% range.
Feb 19, 2026, 1:00 PM
Madrigal Pharmaceuticals Reports Strong Q4 and Full Year 2025 Rezdiffra Sales and Pipeline Expansion
MDGL
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Madrigal Pharmaceuticals reported Q4 2025 net sales of $321 million and full year 2025 net sales of $958 million for Rezdiffra, marking its first full year on the market.
- The company ended Q4 2025 with over 36,250 patients on Rezdiffra, an increase from over 29,500 at the end of Q3 2025, and expects continued steady patient additions.
- The US MASH market has grown nearly 50% since the end of 2023 and is projected to grow at a double-digit pace for the foreseeable future, with Rezdiffra established as the foundational therapy.
- Madrigal expanded its pipeline to over 10 programs, including an oral GLP-1, a late-stage DGAT-2 inhibitor, and six preclinical siRNA targets, aiming to build on Rezdiffra's leadership.
- The company reported $988.6 million in cash and equivalents at the end of Q4 2025, and anticipates robust net sales growth in 2026, despite an expected increase in gross to net impact to the high 30% range.
Feb 19, 2026, 1:00 PM
Madrigal Pharmaceuticals Reports Q4 and Full-Year 2025 Financial Results and Pipeline Expansion
MDGL
Earnings
Product Launch
New Projects/Investments
- Madrigal Pharmaceuticals reported Rezdiffra net sales of $321.1 million for the fourth quarter of 2025 and $958.4 million for the full-year 2025, which also represent the total revenues for these periods.
- As of December 31, 2025, the company's cash, cash equivalents, restricted cash, and marketable securities totaled $988.6 million.
- In 2025, Madrigal significantly expanded its MASH pipeline by licensing global rights to six pre-clinical siRNA programs and an exclusive global license for ervogastat, a Phase 2 oral DGAT-2 inhibitor.
- Key corporate updates for 2025 include securing a Rezdiffra patent providing protection into 2045, launching Rezdiffra in Germany following European Commission approval, and licensing global rights to an oral GLP-1 (MGL-2086).
- The CEO anticipates another year of robust net sales growth for Rezdiffra in 2026.
Feb 19, 2026, 12:05 PM
Madrigal Pharmaceuticals Reports Fourth-Quarter and Full-Year 2025 Financial Results
MDGL
Earnings
Product Launch
New Projects/Investments
- Madrigal Pharmaceuticals reported Rezdiffra net sales of $321.1 million for the fourth quarter of 2025 and $958.4 million for the full year 2025.
- As of December 31, 2025, the company held $988.6 million in cash, cash equivalents, restricted cash, and marketable securities.
- The company expanded its MASH pipeline with more than 10 programs, including licensing global rights to six pre-clinical siRNA programs, an oral GLP-1 (MGL-2086), and a Phase 2 oral DGAT-2 inhibitor, ervogastat.
- Madrigal secured an Orange Book listed Rezdiffra patent, providing protection until 2045, and launched Rezdiffra in Germany following European Commission approval.
Feb 19, 2026, 12:00 PM
Madrigal Pharmaceuticals Expands MASH Pipeline with siRNA Licensing Agreement
MDGL
New Projects/Investments
- Madrigal Pharmaceuticals announced an exclusive global license agreement with Suzhou Ribo Life Science Co. Ltd. and Ribocure Pharmaceuticals AB for six preclinical small interfering RNA (siRNA) programs.
- This agreement expands Madrigal's pipeline to more than 10 programs at multiple stages of development, anchored by Rezdiffra® (resmetirom).
- Ribo will receive an upfront payment of US $60 million, with potential cumulative payments across the programs reaching up to US $4.4 billion if certain milestones are achieved, in addition to royalties on net sales.
- The siRNA programs aim to develop next-generation therapies for MASH by selectively reducing the production of disease-driving proteins.
Feb 11, 2026, 10:00 AM
Madrigal Pharmaceuticals Updates on Rezdiffra Performance and Pipeline Strategy
MDGL
Product Launch
New Projects/Investments
Revenue Acceleration/Inflection
- Madrigal Pharmaceuticals' Rezdiffra, the first approved product for MASH, has achieved annualized sales over $1 billion after six quarters through Q3 2025, with $287 million in Q3 2025 sales and over 29,500 active patients.
- The company anticipates doubling Rezdiffra's market opportunity with an F4C indication, for which data from the Maestro Outcomes trial is expected in 2027.
- Madrigal is expanding its MASH pipeline by licensing a DGAT2 inhibitor and an oral GLP-1 for combination therapies, with clinical studies for both planned in 2026 and 2027.
- For 2026, Madrigal expects robust net revenue growth despite gross-to-net percentages for commercial payers increasing to the high 30s due to new commercial contracts. Profitability is a long-term goal, not a near-term focus.
Jan 12, 2026, 9:30 PM
Madrigal Pharmaceuticals Highlights Strong Rezdiffra Launch and Pipeline Expansion at J.P. Morgan Conference
MDGL
Product Launch
New Projects/Investments
Revenue Acceleration/Inflection
- Madrigal Pharmaceuticals reported strong launch performance for Rezdiffra (resmetirom), with net sales of $287.3 million through Q3 2025 and over 29,500 active patients on therapy as of Q3 2025. The company is annualizing at over $1 billion in net sales in just the sixth quarter of launch.
- The company is progressing towards an F4c indication expansion for Rezdiffra, which has the potential to double the market opportunity for the drug, with outcomes data anticipated in 2027.
- Madrigal is expanding its pipeline by adding new mechanisms, including a DGAT-2 Inhibitor (ervogastat), with a Phase 2 combination study anticipated to start in 2027, and an Oral GLP-1 receptor agonist (MGL-2086), with a Phase 1 SAD study to begin in Q2 2026.
Jan 12, 2026, 9:30 PM
Madrigal Pharmaceuticals Reports Strong Rezdiffra Sales and Pipeline Expansion
MDGL
New Projects/Investments
Product Launch
Revenue Acceleration/Inflection
- Madrigal Pharmaceuticals' Rezdiffra achieved $287 million in sales in Q3 2025 and is annualizing at over $1 billion after six quarters of launch, with over 29,500 active patients by the end of Q3 2025.
- The company expects data for the F4C indication expansion in 2027, which could potentially double Rezdiffra's market opportunity.
- Madrigal is expanding its pipeline with new mechanisms of action, including a recently unlicensed DGAT2 inhibitor with a phase II program planned for 2027, and an oral GLP-1 program starting a phase I study in Q2 2026.
- For 2026, Madrigal has secured first-line market access for Rezdiffra with no step-edit requirements, though gross-to-net is expected to increase to the high 30% range due to commercial contracting starting January 1, 2026.
- The company's new intellectual property for Rezdiffra extends to 2045.
Jan 12, 2026, 9:30 PM
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