Madrigal Pharmaceuticals achieved a defining year in 2025, solidifying its leadership in the MASH market with nearly $1 billion in Rezdiffra sales in its first full year of launch. The company reported fourth-quarter net revenues of $321.1 million and full-year net revenues of $958.4 million, alongside strategic pipeline expansions and strong cash reserves.

Madrigal saw a strong revenue boost from Rezdiffra, but heavy investment in R&D and commercialization resulted in a net loss.

Madrigal's Q2 2025 performance was marked by surging Rezdiffra sales, growing to $212.8 million in net revenue, while operating expenses increased due to commercialization and pipeline development. The company ended the quarter with over $800 million in liquidity.

Madrigal Pharmaceuticals reported a net loss of $73.2 million for the first quarter of 2025, driven by increased operating expenses related to the commercial launch of Rezdiffra. Revenue from Rezdiffra net sales was $137.3 million in its first quarter of commercialization. The company ended the quarter with $848.1 million in cash, cash equivalents, restricted cash and marketable securities.

Madrigal Pharmaceuticals reported net revenue of $103.3 million for Q4 2024 driven by Rezdiffra sales. The company incurred a net loss of $59.4 million due to high operating expenses related to Rezdiffra's commercial launch. Cost of sales was reported at $3.4 million for the quarter.

Madrigal Pharmaceuticals reported third-quarter 2024 net sales of $62.2 million, driven by the U.S. launch of Rezdiffra. The company achieved its Rezdiffra coverage goal early, with over 80% of commercial lives covered. Madrigal also completed enrollment in its clinical outcomes study of Rezdiffra in patients with compensated NASH/MASH cirrhosis and reported cash, cash equivalents, restricted cash, and marketable securities of $1.0 billion as of September 30, 2024.

Madrigal Pharmaceuticals reported a strong start to the U.S. launch of Rezdiffra, with $14.6 million in net sales for the second quarter of 2024. The company is progressing with its European expansion plans and has received expert recommendations for Rezdiffra as a first-line therapy for NASH/MASH.

Madrigal Pharmaceuticals reported no revenue for Q1 2024 as Rezdiffra shipments began in April. The company's cash, cash equivalents, and marketable securities totaled $1.1 billion as of March 31, 2024, bolstered by a recent public offering. Madrigal received FDA approval for Rezdiffra and is focused on its commercial launch.

Madrigal Pharmaceuticals reported Q4 2023 operating expenses of $117.2 million, with research and development expenses at $70.6 million and general and administrative expenses at $46.5 million. The company's cash, cash equivalents, and marketable securities totaled $634.1 million as of December 31, 2023.

Madrigal Pharmaceuticals reported its Q3 2023 financial results, highlighting the ongoing priority review of resmetirom's new drug application and a recent $500 million financing to support its potential launch. The company is preparing for a potential approval of resmetirom in March 2024 and will present new Phase 3 MAESTRO study data at the AASLD Liver Meeting.

Madrigal Pharmaceuticals reported its second quarter 2023 financial results, highlighting the submission of the resmetirom NDA and ongoing preparations for a potential U.S. launch. The company's cash, cash equivalents, and marketable securities totaled $298.4 million. Operating expenses were $86.5 million, with research and development expenses at $68.6 million.

Madrigal Pharmaceuticals reported its Q1 2023 financial results, highlighting progress in regulatory preparations, disease education, and market access strategy, with resmetirom's NDA filing on track for Q2 2023 and Breakthrough Therapy designation from the FDA.

Madrigal Pharmaceuticals reported positive Phase 3 MAESTRO-NASH study results in Q4 2022, positioning the company for a new drug application filing in the first half of 2023. The company's year-end cash, cash equivalents, and marketable securities totaled $358.8 million.

Madrigal Pharmaceuticals reported its third quarter 2022 financial results, highlighting upcoming resmetirom Phase 3 data presentations. The company had cash, cash equivalents and marketable securities of $153.2 million as of September 30, 2022. Madrigal is focused on delivering topline data from the pivotal MAESTRO-NASH biopsy study in Q4 2022.

Madrigal Pharmaceuticals reported its second quarter 2022 financial results, highlighting the advancement of its Phase 3 MAESTRO program and expansion of market development activities. The company had cash, cash equivalents, and marketable securities of $211.8 million as of June 30, 2022. Madrigal remains on track to announce topline data from the Phase 3 MAESTRO-NASH biopsy study in the fourth quarter.

Madrigal Pharmaceuticals announced the acceptance of four abstracts for oral presentation at the EASL International Liver Congress and reported financial results for the first quarter of 2022. The company completed a $250 million term loan facility to support resmetirom clinical and commercial development.

Madrigal Pharmaceuticals reported cash, cash equivalents and marketable securities of $270.3 million. Operating expenses were $64.6 million. Research and development expenses were $52.9 million and general and administrative expenses were $11.7 million.

Madrigal Pharmaceuticals reported its third quarter 2021 financial results and provided a corporate update, highlighting the progress of its MAESTRO-NASH and MAESTRO-NAFLD-1 studies and the presentation of data at The Liver Meeting® 2021.

Madrigal Pharmaceuticals reported its second quarter 2021 financial results, highlighting the progress made in clinical trials and commercial preparation for resmetirom. The company reached its enrollment goal for the MAESTRO-NASH trial and anticipates top-line results for its studies in the near future. Madrigal ended the quarter with $323.8 million in cash, cash equivalents, and marketable securities.

Madrigal Pharmaceuticals reported an increase in cash, cash equivalents, and marketable securities to $307.2 million. Operating expenses increased to $53.0 million, driven by higher research and development and general and administrative costs.

Madrigal Pharmaceuticals reported operating expenses of $59.6 million and research and development expenses of $53.4 million for the three months ended December 31, 2020. As of December 31, 2020, Madrigal had cash, cash equivalents and marketable securities of $284.1 million.

Madrigal Pharmaceuticals announced the completion of enrollment in its MAESTRO NAFLD-1 clinical trial and reported its third quarter 2020 financial results. The company's cash, cash equivalents, and marketable securities totaled $335.9 million. Operating expenses were $58.8 million, with research and development expenses accounting for $53.3 million.

Madrigal Pharmaceuticals reported its second quarter 2020 financial results. The company's focus remained on completing enrollment for its Phase 3 MAESTRO clinical trials. Madrigal had cash, cash equivalents, and marketable securities of $384.4 million as of June 30, 2020.

Madrigal Pharmaceuticals reported first quarter 2020 financial results, highlighting progress in clinical development despite COVID-19 challenges. The company continued to screen and enroll patients in Phase 3 studies, MAESTRO-NASH and MAESTRO-NAFLD-1. Madrigal had cash, cash equivalents and marketable securities of $408.5 million as of March 31, 2020.

Madrigal Pharmaceuticals reported a net loss of $27.74 million for the fourth quarter of 2019, with operating expenses totaling $30.0 million, driven primarily by increased research and development expenses related to Phase 3 studies. As of December 31, 2019, the company's cash, cash equivalents, and marketable securities amounted to $439.0 million.