MDGL Earnings Prediction
The chart below shows how MDGL performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MDGL sees a -2.94% change in stock price 10 days leading up to the earnings, and a +6.48% change 10 days following the report. On the earnings day itself, the stock moves by +0.79%. This data can give you a slight idea of what to expect for the next quarter's release.
MDGL Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
62.17M
--
324.75%
Gross Margin
96.54%
--
0.92%
Operating Margin
-187.06%
--
-83.15%
Net Margin
-172.04%
--
-83.43%
EPS
-4.92
-7.87%
-30.70%
No Data Available
MDGL Earnings Analysis
Madrigal Pharmaceuticals, Inc. Common Stock Corporation (MDGL.O) Earnings Conference Call
Positive
Strong Demand Surge: 1. Strong Net Sales: Madrigal Pharmaceuticals reported net sales of $62 million for Q3 2024, reflecting strong demand and a significant increase in patient uptake.
Patient Growth Surge: 2. Rapid Patient Growth: The number of patients on Rezdiffra increased to over 6,800 by the end of Q3 2024, up from more than 2,000 at the end of Q2 2024, indicating a robust growth trajectory.
Patient Access Improvement: 3. Early Coverage Success: The company achieved over 80% coverage for commercial lives ahead of schedule, enhancing patient access to Rezdiffra.
Prescriber Engagement Increase: 4. High Prescriber Engagement: Approximately 40% of Madrigal's top prescriber targets have prescribed Rezdiffra, doubling the penetration rate from the previous quarter.
Cash and Marketable Securities: 5. Strong Cash Position: As of September 30, 2024, Madrigal had $1 billion in cash and marketable securities, providing ample resources to support ongoing operations and future growth.
Negative
Rising SG&A Expenses: 1. High SG&A Expenses: SG&A expenses surged to $107.6 million in Q3 2024, a significant increase from $27.6 million in Q3 2023, indicating a substantial rise in operational costs associated with the launch of Rezdiffra.
Elevated R&D Expenses: 2. R&D Expenses Remain Elevated: R&D expenses were reported at $68.7 million for Q3 2024, only slightly lower than $71 million in the same quarter last year, suggesting ongoing high investment without a corresponding increase in product pipeline output.
Co-Pay Assistance Challenges: 3. Low Co-Pay Assistance Utilization: Co-Pay Assistance program utilization was lower than anticipated, contributing to concerns about patient affordability and access, which could hinder future sales growth.
Free Drug Program Challenges: 4. Limited Free Drug Program Utilization: Very few patients utilized the free drug program in Q3 2024, indicating potential issues with awareness or access to this support, which could affect patient retention and growth.
Low Inventory Concerns: 5. Inventory at Low End of Expected Range: Inventory levels for Rezdiffra were at the low end of the expected two to four week range, which may signal challenges in meeting demand or supply chain issues as the launch progresses.
MDGL FAQs
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MDGL Earning Call Sentiment
Madrigal Pharmaceuticals, Inc. (MDGL) Q3 2024 Earnings Call Transcript
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00:00
00:00
MDGL.O
-1.71%Positive
Basic Financial Performance: 4, Product Development and Business Update: 5, Market Strategy: 4, Expenses and Financial Health: 3, Shareholder Return Plan: 3. The earnings call indicates strong sales growth and market expansion potential for Rezdiffra, with stable R&D expenses and a solid cash position. However, increased SG&A expenses pose a risk if sales underperform. The Q&A reveals optimism about future growth but some uncertainty in gross to net figures. Overall, the positive outlook for Rezdiffra and market expansion outweighs the risks, suggesting a stock price increase of 2% to 8%.
