Quarterly ResultMay 6, 2026, 07:03 AM
Madrigal Q1 Rezdiffra Net Sales $311.3M, up 127%; Expands Pipeline
AI Summary
Madrigal Pharmaceuticals reported strong first-quarter 2026 financial results, with Rezdiffra net sales reaching $311.3 million, a 127% year-over-year increase. The company also saw significant patient adoption, with over 42,250 patients on Rezdiffra, a 2.5x increase from Q1 2025. Madrigal strengthened its pipeline by licensing a clinical-stage siRNA asset targeting a PNPLA3 gene mutation for MASH and reported $817.9 million in cash and equivalents.
Key Highlights
- Rezdiffra net sales reached $311.3 million, a 127% increase year-over-year.
- Over 42,250 patients were on Rezdiffra as of March 31, 2026, up 2.5x from Q1 2025.
- Madrigal secured global licensing rights for ARO-PNPLA3, a clinical-stage siRNA asset for MASH.
- Cash, cash equivalents, restricted cash, and marketable securities totaled $817.9 million.
- Net loss was $94.4 million, or $3.25 per share, including $54.3 million in one-time business development expenses.
- Operating expenses increased to $404.1 million from $216.6 million year-over-year.
- R&D expenses were $108.7 million, up from $44.2 million, primarily due to $54.3 million in one-time business development expenses.
- SG&A expenses rose to $268.5 million from $167.9 million due to commercial investments.