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Price · 1Y
$513.02
Thesis
Madrigal commercializes Rezdiffra, the first FDA-approved therapy for MASH (formerly NASH) — a large, previously untreated metabolic-liver-disease market. As the first mover with an oral, liver-biopsy-validated drug, it holds the category lead while the launch ramps across hepatology and endocrinology.
The investment case is a first-in-class commercial leader in a multi-billion-dollar metabolic market with high unmet need. Risks: it is effectively a single-product company, so the launch curve is the whole story; GLP-1s (which also improve liver endpoints) loom as both competition and potential combination partners, and reimbursement breadth governs uptake.
Catalysts
- Rezdiffra prescription and revenue ramp
- Label expansion (e.g. compensated cirrhosis)
- GLP-1 competitive and combination dynamics
- Payer coverage and prior-authorization trends
Recent events
Material filings, federal awards, and regulatory activity. Impact is scored against market cap.
- Sep 21Trial initiationClinicalTrials.gov
Phase 1 trial initiation of resmetirom in MASH patients with HFpEF (NCT07830758, not yet recruiting)
- Sep 11Trial initiationClinicalTrials.gov
Madrigal initiates Phase 2 trial of resmetirom in children and adolescents with MASH (NCT07763015, recruiting).
- Aug 26Trial initiationClinicalTrials.gov
Madrigal initiates Phase 2 trial of resmetirom in post-liver transplant MASH patients (NCT07335601, recruiting).
- Aug 13Trial initiationClinicalTrials.gov
Madrigal initiates Phase 2 trial of resmetirom in children and adolescents with MASH (NCT07763015), status not yet recruiting.
- Aug 12LeadershipSEC
8-K filed with items 5.02, 7.01, 9.01 covering officer/director changes and related disclosures.
- Jul 31Trial initiationClinicalTrials.gov
Madrigal initiates Phase 2 trial (NCT07335601) of resmetirom in post-liver transplant MASH patients; status recruiting.
- Jul 30Financial resultsSEC
8-K filing (items 2.02, 9.01) reporting results of operations and financial condition.
- Jul 8OtherClinicalTrials.gov
Phase 3 MAESTRO-NASH-OUTCOMES trial (NCT05500222) for resmetirom in NASH cirrhosis status updated to ACTIVE_NOT_RECRUITING.