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.
RB
Ritu Baral
TD Cowen
6 questions for MDGL
Also covers: ACAD, ALNY, ATAI +11 more
YR
Yasmeen Rahimi
Piper Sandler & Co.
6 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
Jay Olson
Oppenheimer & Co. Inc.
5 questions for MDGL
Also covers: ACAD, AMGN, BIIB +22 more
Prakhar Agrawal
Cantor Fitzgerald
5 questions for MDGL
Also covers: ARDX, ARWR, ROIV +4 more
TS
Thomas Smith
Leerink Partners
5 questions for MDGL
Also covers: ACRS, ARGX, CLDX +5 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
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
JW
Jon Wolleben
Citizen JMP
2 questions for MDGL
Also covers: BCRX, CLSD, MIRM +3 more
Mayank Mamtani
B. Riley Securities
2 questions for MDGL
Also covers: AGEN, ALT, ARWR +18 more
Michael DiFiore
Evercore ISI
2 questions for MDGL
Also covers: AMGN, AMLX, BIIB +8 more
SD
Srikripa Devarakonda
Truist Financial Corporation
2 questions for MDGL
Also covers: ABCL, ABSI, AFMD +12 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
EM
Ellie Merle
UBS Group AG
1 question for MDGL
Also covers: ALNY, ALT, ARVN +12 more
JW
John Walleban
Citizens JMP Securities
1 question for MDGL
JW
John Wolleben
JMP Securities
1 question for MDGL
Recent press releases and 8-K filings for MDGL.
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
Madrigal Pharmaceuticals secures exclusive global license for ervogastat
MDGL
M&A
New Projects/Investments
- Madrigal Pharmaceuticals announced an exclusive global license agreement with Pfizer for ervogastat, a clinical-stage oral DGAT-2 inhibitor, to strengthen its pipeline and leadership in MASH therapies.
- The agreement includes an upfront payment of $50 million USD to Pfizer, which will be reflected in Madrigal's fourth quarter 2025 expenses.
- Ervogastat's DGAT-2 inhibition offers a complementary mechanism of action with Rezdiffra, Madrigal's existing MASH therapy, for potential additive therapeutic benefit.
- Madrigal plans to conduct a drug-to-drug interaction study with Rezdiffra in 2026 and consult with the FDA on the design of a Phase 2 combination trial for ervogastat.
Jan 9, 2026, 1:00 PM
Madrigal Pharmaceuticals Provides Rezdiffra Launch Update and 2026 Outlook
MDGL
Guidance Update
Product Launch
New Projects/Investments
- Madrigal Pharmaceuticals reported $287.3 million in sales for its last quarter, achieving a billion-dollar run rate for Rezdiffra, with over 10,000 prescribers and over 29,500 patients on drug, six quarters into its launch.
- For 2026, the company has secured first-line access and no step-throughs with payers for Rezdiffra, with gross-to-net discounts expected to step up to the high 30 percentile.
- Madrigal anticipates high single-digit growth in net revenues from Q3 to Q4 2025, with net revenues flat to down in Q1 2026 due to typical Q1 effects and gross-to-net impact, but expects robust sales growth for 2026 overall.
- The company is expanding its focus to endocrinologists and has advanced its pipeline, including an oral GLP-1 asset entering Phase 1 in H1 2026 and an Orange Book listed patent for Rezdiffra extending to 2045.
- Madrigal Pharmaceuticals does not plan to provide 2026 guidance.
Dec 3, 2025, 6:30 PM
Madrigal Pharmaceuticals Discusses Rezdiffra Launch Performance and 2026 Outlook
MDGL
Revenue Acceleration/Inflection
Guidance Update
New Projects/Investments
- Madrigal Pharmaceuticals announced that Rezdiffra achieved a billion-dollar run rate, with $287.3 million in sales in the last quarter, over 10,000 prescribers, and nearly 29,500 patients on drug, six quarters into its launch.
- The company has secured 2026 payer contracting for Rezdiffra, ensuring first-line access and improved utilization management criteria, with the gross-to-net discount projected to be in the high 30 percentile for 2026.
- Madrigal is expanding its commercial focus to include endocrinologists, targeting approximately 2,000 high-priority prescribers starting in Q4, to address patients with MASH despite GLP-1 use.
- While robust sales growth is anticipated for 2026, net revenues for Q1 2026 are expected to be flat to down due to typical Q1 effects and the full impact of commercial contracting.
- Intellectual property for Rezdiffra has been secured with an Orange Book listed patent until 2045, providing a long-term foundation for the company's leadership in MASH treatment.
Dec 3, 2025, 6:30 PM
Madrigal Pharmaceuticals Provides Business Update and 2026 Outlook
MDGL
Guidance Update
Product Launch
New Projects/Investments
- Madrigal Pharmaceuticals reported $287.3 million in sales in its last quarter, achieving a billion-dollar run rate after six quarters since launch, with over 10,000 prescribers and 29,500 patients on drug.
- For 2026, the company has secured payer contracting ensuring first-line access for Rezdiffra, which is expected to increase the gross-to-net discount to the high 30 percentile from the low end of 20%-30% in 2025.
- Madrigal anticipates a high single-digit growth rate quarter-over-quarter for Q4 2025, with Q1 2026 net revenues projected to be flat to down due to seasonal effects and the gross-to-net step-up, but expects robust sales growth for the full year 2026.
- A new dedicated effort to target 2,000 high-priority endocrinologists began in Q4, contributing to an expected increase in OpEx for 2026 alongside pipeline development.
- The company emphasizes Rezdiffra's long-term potential with a patent until 2045 and is actively pursuing business development, including an oral GLP-1 asset, to solidify its leadership in the MASH space.
Dec 3, 2025, 6:30 PM
Madrigal Pharmaceuticals Discusses Rezdiffra Launch, Gross-to-Net, and Future Strategy
MDGL
Product Launch
Guidance Update
New Projects/Investments
- Rezdiffra's launch has achieved an annualized run rate of over $1 billion after six quarters, with over 10,000 prescribers, though market penetration remains less than 10% of the 315,000 target population.
- Gross-to-net discounts for Rezdiffra are projected to increase from the mid-20s% at the end of 2025 to the high 30s% in 2026 due to new commercial contracting, which is considered typical for a specialty product in its third year.
- Madrigal anticipates a decision in 2026 regarding the assignment of a five-year Patent Term Extension (PTE) to either the Form I Polymorph or the composition of matter patent for Rezdiffra.
- The company's near-term focus for 2026 is on driving Rezdiffra sales, expanding its label for the F4C indication, and developing its pipeline, rather than achieving profitability.
Dec 2, 2025, 9:15 PM
Madrigal Discusses Rezdiffra Performance and 2026 Outlook
MDGL
Product Launch
Guidance Update
New Projects/Investments
- Madrigal's Rezdiffra has completed its sixth quarter of launch, achieving an annualized run rate of over $1 billion and reaching over 10,000 prescribers.
- Market penetration for Rezdiffra is currently less than 10% of the 315,000 diagnosed MASH patient population, with plans to expand the sales force to target endocrinologists starting in Q4.
- Gross-to-net discounts are projected to increase from the mid-20s% at year-end to the high 30s% starting January 1st, 2026, as the company transitions to commercial contracting.
- Madrigal secured a 2045 patent for Rezdiffra, with a decision on extending other key patents expected in 2026.
- The company's primary focus for 2026 is on driving sales, expanding the F4C indication, and pipeline development, rather than achieving near-term profitability.
Dec 2, 2025, 9:15 PM
Madrigal Pharmaceuticals Discusses Rezdiffra Launch, Gross-to-Net, and IP Strategy
MDGL
Product Launch
Guidance Update
New Projects/Investments
- Madrigal Pharmaceuticals' Rezdiffra has achieved an annualized run rate of over $1 billion after its sixth quarter of launch, with over 10,000 prescribers and less than 10% penetration into its target population. The company is expanding its sales force to target endocrinologists, with an expected impact in 2026.
- The gross-to-net discount is projected to increase significantly from the mid-20s% in Q4 to the high 30s% starting January 2026, due to new commercial contracting, which is considered typical for a specialty product in its third year of launch.
- Madrigal has secured a dosing patent extending to 2045 for Rezdiffra, and a decision on assigning a five-year Patent Term Extension (PTE) to other patents is expected in 2026. This dosing patent is considered strong as generics would need to adopt the label's weight-threshold dosing, which would violate the patent.
- Profitability is not the primary focus for 2026, as the company prioritizes driving Rezdiffra sales, expanding its F4C indication, and building its pipeline.
Dec 2, 2025, 9:15 PM
Quarterly earnings call transcripts for MADRIGAL PHARMACEUTICALS.
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