MDGL on Nasdaq

MADRIGAL PHARMACEUTICALS, INC.

American pharmaceutical preparations company based in Washington. Summary from the record

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Last updated Oct 19, 2026.

Overview

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  • TickerMDGL on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersWashington, United States2
  • Incorporated inDE3
  • Business address1001 Conshohocken State Road, Suite 2-350, West Conshohocken, Pa3
  • Filer categoryLarge accelerated filer3
  • Legal formCorporation2
  • LEI549300CHIMT2EUSNJB602
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 31915442

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We are a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (“MASH”), a serious liver disease with high unmet medical need that can lead to cirrhosis, liver failure, liver cancer, need for liver transplantation and premature mortality. MASH was previously known as nonalcoholic steatohepatitis (“NASH”). MASH is the leading cause of liver transplantation in women, the second leading cause of all liver transplantation in the United States and the fastest-growing indication for liver transplantation in Europe. Our medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed thyroid hormone receptor beta (“THR-β”) agonist designed to target key underlying causes of MASH. In March 2024, Rezdiffra became the first therapy approved by the FDA for patients with MASH and was commercially available in the United State…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-31.3%Operating margin5
-30.1%Net margin5
432.1%Revenue growth, 20255
-47.8%Return on equity5
0.56×Debt to equity5
-$190.0MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin85¢$813.8M
  • Other costs15¢$144.6M

Out of $958.4M in revenue.5 The company lost money this year.

Financial statements

Revenue6785$958.4M in 2025
0$250.0M$500.0M$750.0M$1.0B2019: $0$020192020: $0$020202021: $0$020212022: $0$020222023: $0$020232024: $180.1M$180.1M20242025: $958.4M$958.4M2025+432%
Operating income69785-$300.1M in 2025+216% since 2019
-$600.0M-$400.0M-$200.0M02019: -$95.0M-$95.0M20192020: -$206.7M-$206.7M2020+118%2021: -$242.5M-$242.5M2021+17%2022: -$293.6M-$293.6M2022+21%2023: -$380.5M-$380.5M2023+30%2024: -$497.9M-$497.9M2024+31%2025: -$300.1M-$300.1M2025−40%
Net income69785-$288.3M in 2025+243% since 2019
-$600.0M-$400.0M-$200.0M02019: -$83.9M-$83.9M20192020: -$202.2M-$202.2M2020+141%2021: -$241.8M-$241.8M2021+20%2022: -$295.4M-$295.4M2022+22%2023: -$373.6M-$373.6M2023+27%2024: -$465.9M-$465.9M2024+25%2025: -$288.3M-$288.3M2025−38%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Product revenue, net$958.4M$180.1M$0
Cost of sales$56.1M$6.2M$0
Research and development$388.5M$236.7M$272.4M
Selling, general and administrative$813.8M$435.1M$108.1M
Total operating expenses$1.3B$678.0M$380.5M
Loss from operations-$300.1M-$497.9M-$380.5M
Interest income$37.4M$46.7M$19.6M
Interest expense-$22.3M-$14.7M-$12.7M
Loss on extinguishment of debt-$2.8M$0$0
Other expense, net-$463.0K$0$0
Net loss-$288.3M-$465.9M-$373.6M
Basic net loss per common share (in dollars per share)-$12.85-$21.90-$19.99
Diluted net loss per common share (in dollars per share)-$12.85-$21.90-$19.99
Basic weighted average number of common shares outstanding (in shares)22.4M shares21.3M shares18.7M shares
Diluted weighted average number of common shares outstanding (in shares)22.4M shares21.3M shares18.7M shares

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Leadership

Who has led MADRIGAL PHARMACEUTICALS, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Safi R. Bahcall2007–2014
  2. Anne Clem Whitaker2014–2015
  3. Chen Schor2015–2016
  4. Paul A. Friedman2016–2023
  5. William John Sibold2023–now

President

  1. Safi R. Bahcall2007–2014
  2. Sumant Ramachandra2013
  3. Anne Clem Whitaker2014–2015
  4. Chen Schor2015–2016
  5. Rebecca Taub2019
  6. William John Sibold2023–now

Chief financial officer

  1. Keith S. Ehrlich2007–2014
  2. Marc R. Schneebaum2014–2021
  3. Alex G. Howarth2021–2024
  4. Mardi Dier2024–now

Chief operating officer

  1. Chen Schor2014
2010201520202025
Board members and other officers (43)

Former names

  • SYNTA PHARMACEUTICALS CORPMay 31, 2002 to Aug 1, 20163

Timeline

  1. Sep 13, 2023New chief executive William John Sibold becomes CEO13
  2. Jul 26, 2016New chief executive Paul A. Friedman becomes CEO14
  3. Jun 8, 2015New chief executive Chen Schor becomes CEO15
  4. Sep 4, 2014New chief executive Anne Clem Whitaker becomes CEO16
  5. Feb 5, 2007New chief executive Safi R. Bahcall becomes CEO17
  6. Mar 10, 2000Founded MADRIGAL PHARMACEUTICALS, INC. is founded2

Filings

423 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 54 major events, 180 insider forms, 47 large holders, 121 other. The latest 20:

  1. Sep 28, 2026144 EDGAR
  2. Sep 11, 2026144 EDGAR
  3. Sep 11, 20264 EDGAR
  4. Sep 9, 2026144 EDGAR
  5. Aug 20, 20264 EDGAR
  6. Aug 20, 2026144 EDGAR
  7. Aug 18, 20264 EDGAR
  8. Aug 18, 20263 EDGAR
  9. Aug 12, 20268-K EDGAR
  10. Jul 30, 202610-Q EDGAR
  11. Jul 30, 20268-K EDGAR
  12. Jul 29, 2026SCHEDULE 13G/A EDGAR
  13. Jul 20, 20264 EDGAR
  14. Jul 20, 2026144 EDGAR
  15. Jun 18, 20264 EDGAR
  16. Jun 18, 20264 EDGAR
  17. Jun 18, 20264 EDGAR
  18. Jun 18, 20264 EDGAR
  19. Jun 18, 20264 EDGAR
  20. Jun 18, 20264 EDGAR

The 423 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

111 open-market trades by officers, directors and large owners since October 2021: 13 buys and 98 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 11, 2026Sibold William JohnPresident and CEOSale5,221$542.38$2.8MForm 4
Sep 9, 2026Sibold William JohnPresident and CEOSale6,362$535.59$3.4MForm 4
Aug 17, 2026Kelley Shannon TGeneral CounselSale664$514.97$341.9KForm 4
Jul 20, 2026Sibold William JohnPresident and CEOSale2,500$547.30$1.4MForm 4
Jun 1, 2026Soergel DavidChief Medical OfficerSale1,042$495.74$516.6KForm 4
May 22, 2026Levy Richard SDirectorSale5,682$515.44$2.9MForm 4
May 18, 2026Soergel DavidChief Medical OfficerSale844$515.90$435.4KForm 4
Mar 6, 2026Dier MardiEVP and CFOSale1,982$430.87$854.0KForm 4
Mar 6, 2026Sibold William JohnPresident and CEOSale1,663$431.94$718.3KForm 4
Mar 6, 2026Kelley Shannon TGeneral CounselSale360$431.94$155.5KForm 4
Mar 6, 2026Huntsman CaroleChief Commercial OfficerSale419$431.94$181.0KForm 4
Mar 6, 2026Taub RebeccaDirectorSale491$431.94$212.1KForm 4
Mar 2, 2026Dier MardiEVP and CFOSale1,183$427.21$505.4KForm 4
Jan 26, 2026Huntsman CaroleChief Commercial OfficerSale910$493.78$449.3KForm 4
Jan 26, 2026Sibold William JohnPresident and CEOSale1,577$492.42$776.5KForm 4
Jan 26, 2026Taub RebeccaDirectorSale647$492.42$318.6KForm 4
Jan 20, 2026Kelley Shannon TGeneral CounselSale692$497.36$344.2KForm 4
Jan 20, 2026Taub RebeccaDirectorSale2,238$490.77$1.1MForm 4
Jan 9, 2026FRIEDMAN PAUL ADirectorSale280$551.24$154.3KForm 4
Jan 9, 2026FRIEDMAN PAUL ADirectorSale24,520$522.39$12.8MForm 4

All 111 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Baker Bros. Advisors LP2,143,131$1.2B5.8%+1,430
Rtw Investments, LP1,993,687$1.1B9.1%No change
Jupiter Topco LLC1,936,099$1.0B0.4%New
Avoro Capital Advisors LLC1,833,333$984.4M8.8%+15,152
Paulson & Co. Inc.1,340,020$719.5M27.9%−52,168
BlackRock, Inc.1,200,770$644.8M0.0%−359,195
Vanguard Capital Management LLC835,668$448.7M0.0%+8,524
Wellington Management Group Llp825,714$443.4M0.1%+130,756
Vanguard Portfolio Management LLC781,731$419.8M0.0%−59,414
State Street Corp527,057$283.0M0.0%−82,468
Citadel Advisors LLC507,233$272.4M0.2%+53,390
UBS Group AG401,708$215.7M0.0%+283,929
Geode Capital Management, LLC374,880$201.3M0.0%−80,990
Fmr LLC356,201$191.3M0.0%−155,527
William Blair Investment Management, LLC324,123$174.0M0.5%−16,396
Invesco Ltd.301,435$161.9M0.0%−28,084
Armistice Capital, LLC288,000$154.6M4.3%+23,417
Assenagon Asset Management S.A.248,428$133.4M0.1%+232,395
Goldman Sachs Group Inc246,280$132.2M0.0%−31,091
Polar Capital Holdings Plc244,274$131.2M0.4%−45,036
Ameriprise Financial Inc231,205$124.1M0.0%+133,024
Norges Bank213,886$114.8M0.0%New
Artisan Partners Limited Partnership210,205$112.9M0.2%+26,665
Pictet Asset Management Holding SA192,896$103.5M0.1%+5,656
Jane Street Group, LLC191,541$102.8M0.1%+155,703

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 10, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+1.0%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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