Madrigal Pharmaceuticals Achieves First Profitable Quarter Driven by Rezdiffra Sales Growth
Madrigal Pharmaceuticals (MDGL) reported its first profitable third quarter, posting a net income of $55.4 million compared to a loss of $114.2 million in the prior year period. This turnaround was driven by robust demand for its lead product, Rezdiffra, which propelled net revenues to $431.3 million—a 50% increase year-over-year. Year-to-date net sales have reached $1.1 billion, officially granting the drug blockbuster status. The company's patient base nearly doubled year-over-year to 55,850 active patients. Management highlighted a significant expansion in the addressable market for F4c MASH, with estimates increasing by 45%. While commercial investments and field force expansion increased SG&A expenses, Madrigal remains cash-flow positive for the second consecutive quarter, supported by $961.8 million in cash and marketable securities.