Shares of Madrigal Pharmaceuticals (MDGL) surged 8.24% in the pre-market trading session on Wednesday, February 26, 2025, driven by the company's promising clinical trial data for its drug Rezdiffra and better-than-expected financial results for the fourth quarter of 2024.
Madrigal reported positive two-year data from the open-label compensated MASH (metabolic dysfunction-associated steatohepatitis) cirrhosis arm of the Phase 3 MAESTRO-NAFLD-1 trial. Patients treated with Rezdiffra achieved a mean 6.7 kPa reduction in liver stiffness, the largest reported reduction in a compensated MASH cirrhosis population to date. This data reinforces the potential benefit of Rezdiffra in treating this underserved patient population with no approved therapies.
Additionally, the company reported fourth-quarter 2024 revenue of $103.3 million, exceeding analyst estimates of $99.1 million, and a narrower net loss of $2.71 per share compared to the expected loss of $4.12 per share. Madrigal ended the year with a strong cash position of $931.3 million, positioning the company for continued growth and expansion.
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