Quarterly ResultMay 6, 2026, 09:07 AM
Madrigal Q1 Product Revenue $311.3M, +126.8%; Net Loss $(94.4)M
AI Summary
Madrigal Pharmaceuticals reported a significant increase in product revenue for Q1 2026, reaching $311.3 million, a 126.8% increase year-over-year, driven by the commercialization of Rezdiffra. The company's net loss widened to $94.4 million, or $(3.25) per share, compared to a net loss of $73.2 million, or $(2.61) per share, in Q1 2025, primarily due to increased operating expenses for research and development and selling, general, and administrative activities. Madrigal continues to commercialize Rezdiffra in the U.S. and Germany and is evaluating it for a broader MASH patient population.
Key Highlights
- Product revenue, net, increased 126.8% to $311.3 million for Q1 2026.
- Net loss for Q1 2026 was $(94.4) million, compared to $(73.2) million in Q1 2025.
- Basic and diluted net loss per share was $(3.25) for Q1 2026.
- Total operating expenses rose 86.6% to $404.1 million in Q1 2026.
- Research and development expenses increased 146.1% to $108.7 million.
- Selling, general and administrative expenses grew 59.9% to $268.5 million.
- Cash, cash equivalents, and restricted cash totaled $232.2 million at March 31, 2026.
Price Impact
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