### Madrigal Pharmaceuticals Reports Q2 2024 Earnings

### Madrigal Pharmaceuticals Reports Q2 2024 Earnings Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) reported its financial results for the second quarter of 2024, demonstrating significant progress and interest in its lead product, Rezdiffra™. #### Key Financial Metrics | Metric | Q2 2024 | Q2 2023 | YoY Change | Consensus Estimates | Q1 2024 | QoQ Change | |--------------------------|-------------------|-------------------|------------|----------------------|----------|-------------| | Total Revenue | $14.6 million | $0 | N/A | $3.9 million | N/A | N/A | | Earnings Per Share (EPS) | -$7.52 | Not provided | N/A | -$7.52 | N/A | N/A | Madrigal Pharmaceuticals reported total revenue of $14.6 million for Q2 2024, substantially surpassing the Wall Street consensus estimate of $3.9 million. Earnings per share turned out to be -$7.52, aligning with the consensus estimates. The financial report marks a notable pivot driven by the strong market response to Rezdiffra™. #### Revenue Performance by Segment | Segment | Q2 2024 Revenue | Guidance/Estimates | Commentary | |--------------------------|-------------------|--------------------|-------------------------------------------| | Rezdiffra™ (resmetirom) | $14.6 million | N/A | The robust uptake underscores market enthusiasm and payer coverage for 50% of commercial lives in the U.S. | Rezdiffra™ accounted for all the revenue, indicating successful market entry and uptake. Coverage for more than 50% of commercial lives reflects broad acceptance among payers, which bolsters future revenue growth potential. #### Key Operational Data | Metric | Data | |----------------------------------|---------------| | Cash and Marketable Securities | $1.1 billion | | R&D Expense | $71.1 million | | SG&A Expense | $105.4 million| | Interest Income | $14.2 million | | Interest Expense | $3.7 million | Madrigal ended Q2 2024 with a robust cash position of $1.1 billion, augmented by a public offering in March 2024, indicating sufficient liquidity for ongoing operations and future product expansions. #### Management Comments Bill Sibold, CEO of Madrigal Pharmaceuticals, remarked, "We're encouraged by the initial demand for Rezdiffra and the favorable coverage from payers. Our strategic commitment to establishing care pathways is setting a strong foundation for future growth." #### Dividend or Share Repurchase Program No dividends or share repurchase programs were announced during this earnings release. #### Forward Guidance No forward earnings guidance was provided by Madrigal Pharmaceuticals for upcoming quarters. #### Stock Price Movement Post-earnings release, Madrigal Pharmaceuticals' stock saw a positive price movement of approximately 1.264%. Overall, the financial performance in Q2 2024 indicates a promising start for Rezdiffra™ and sets a positive trajectory for future quarters, supported by substantial market interest and strategic international expansion plans. --- The report is well-organized and contains all necessary information for investors. No changes are required.