$MDGL
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Madrigal Pharmaceuticals, Inc. reported third-quarter 2026 net revenues of $431.3 million, up 50% from $287.3 million in the comparable prior-year period;
Rezdiffra net sales were also $431.3 million.
Net income was $55.4 million, versus a $114.2 million net loss a year earlier, marking the company’s first quarter of profitability.
Operating expenses were $375.3 million, compared with $401.2 million in the prior-year period; R&D expenses were $71.8 million versus $174.0 million, and SG&A expenses were $265.7 million versus $209.1 million.
Cash, cash equivalents, restricted cash and marketable securities totaled $961.8 million as of September 30, 2026, compared with $988.6 million as of December 31, 2025.
More than 55,850 patients were on Rezdiffra as of September 30, 2026.
The U.S. F2-F3 MASH market had more than 530,000 addressable patients through June 30, 2026; Madrigal said it was on track for more than 30% growth by year-end 2026.
Madrigal plans MAESTRO-CSPH, a second Phase 3 outcomes trial expected to enroll more than 2,000 F4c patients, with a population significantly enriched for clinically significant portal hypertension.
Trial initiation is expected in the first half of 2027, subject to regulatory discussions; data from MAESTRO-NASH OUTCOMES are expected in late 2027.