MDGL · Madrigal Pharmaceuticals, Inc.
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AI Brief
Q2 FY26 earnings call · Jul 30, 2026TL;DR. Madrigal delivered Q2 2026 Rezdiffra net sales of $364.3 million (+71% YoY) with over 49,000 patients on therapy, added three new resmetirom patents (including an F4c patent extending protection into 2042), advanced its oral GLP-1 MGL-2086 into Phase 1, and confirmed it is comfortable with consensus quarterly growth rates for the remainder of 2026; however, operating expenses rose sharply and net loss widened to $57.9 million.
- + Rezdiffra Q2 2026 net sales grew 71% year-over-year to $364.3 million, with more than 49,000 patients on therapy (over 50,000 reached earlier in July).
- + Strengthened IP estate with three new resmetirom patents, including an F4c use patent extending protection into 2042.
- + MGL-2086 oral GLP-1 advanced into the clinic with Phase 1 single ascending dose dosing initiated in June 2026, supporting Rezdiffra combination strategy.
- + Management is comfortable with consensus quarterly net sales growth rates for Q3 and Q4 2026.
- + Trailing 12-month Rezdiffra net sales reached nearly $1.3 billion, reinforcing mega-blockbuster potential, with the addressable F2-F3 specialist market growing ~50% in two years to 460,000 patients.
- − Cost of sales surged to $40.0 million from $9.1 million, driven by higher Roche royalties and a work-in-process inventory write-down.
- − R&D expenses nearly doubled to $91.2 million from $54.1 million, with SG&A expenses rising to $289.4 million from $196.9 million as commercial investment scaled.
- − Cash, cash equivalents, restricted cash and marketable securities declined to $838.9 million at June 30, 2026 from $988.6 million at year-end 2025.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Biotechnology — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MDGL
this stock
Madrigal Pharmaceuticals, Inc.
|
$11.27B | -14.7% | +432.1% | — | 9.8% |
|
VRTX
Vertex Pharmaceuticals Inc / Ma
|
$133.37B | +10.8% | +46.2% | 30.7 | 1.9% |
|
REGN
Regeneron Pharmaceuticals, Inc.
|
$81.13B | -4.3% | +20.8% | 19.5 | 2.5% |
|
MRNA
Moderna, Inc.
|
$78.44B | +535.7% | +4.3% | — | 8.2% |
|
CSLLY
Csl Ltd
|
$61.25B | — | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MDGL | -2.6% | -7.1% | -4.3% | -1.5% | -14.8% |
| SPY | +2.0% | +1.7% | +11.3% | +2.2% | +14.3% |
| vs SPY | -4.5% | -8.8% | -15.6% | -3.7% | -29.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.