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Mar 31, 2020
Madrigal Q1 2020 Earnings Report
Madrigal made progress in clinical development and business objectives, advancing Phase 3 studies despite COVID-19 challenges.
Key Takeaways
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.
Continued progress in clinical development and business objectives despite COVID-19 challenges.
Ongoing patient screening and enrollment in Phase 3 studies, MAESTRO-NASH and MAESTRO-NAFLD-1.
Appointment of Remy Sukhija as Senior Vice President and Chief Commercial Officer.
Announced new data from previous studies demonstrating reductions in liver fat achieved by resmetirom predict NASH resolution and fibrosis improvement.
Forward Guidance
Madrigal is focused on advancing resmetirom through Phase 3 clinical trials, aiming for NASH resolution and fibrosis reduction, while also exploring cardiovascular risk reduction in NASH patients.
Positive Outlook
- Advancing resmetirom through Phase 3 clinical trials.
- Targeting NASH resolution and fibrosis reduction.
- Exploring cardiovascular risk reduction in NASH patients.
- Potential indication for treatment of hyperlipidemia in NASH patients.
- Resmetirom's ability to decrease liver fat.
Challenges Ahead
- Clinical development of resmetirom.
- Enrollment uncertainties related to COVID-19.
- Outcomes or trends from competitive studies.
- Risks of achieving potential benefits in studies with more patients.
Historical Earnings Impact
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