Pulling SEC filings + quote and writing the call…

MADRIGAL PHARMACEUTICALS, INC.
Next earnings Aug 3, 2026 (before open) · consensus $-2.38 EPS, $357M rev
Last earnings +7.4% on 2026-05-06
Rezdiffra's blockbuster MASH launch quadrupled revenue to $958M; single-drug risk but a clear path to profitability.
Revenue $958M · FY2025
Madrigal owns Rezdiffra, the first FDA-approved therapy for noncirrhotic MASH (F2-F3 fibrosis), and the commercial launch is going exceptionally well: revenue exploded 432.1% to $958M in FY2025 from $180M in FY2024, with the EU adding a conditional marketing authorization (CMA) granted in August 2025. This is a textbook early-stage blockbuster ramp in a large, previously untreated indication, and losses are narrowing — net loss improved 38.1% to -$288M and operating cash burn fell to -$190M as the launch scales toward operating leverage.
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | $0.00 | $0.00 | $180M | $958M |
| Gross profit | — | — | — | — | — |
| Operating income | -$242M | -$294M | -$380M | -$498M | -$300M |
| Net income | -$242M | -$295M | -$374M | -$466M | -$288M |
| Diluted EPS | -$14.63 | -$17.23 | -$19.99 | -$21.90 | -$12.85 |
| Net margin | — | — | — | -258.6% | -30.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Sources: SEC EDGAR (CIK 0001157601, latest 10-Q filed 2026-05-06) · EODHD · analysis by claude-code · as of 6/21/2026, 8:47:33 PM.
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Last 90 days: 0 open-market buys · 13 sales
| 2026-06-17 | Taub Rebecca Director | Award | 454.00 | |
| 2026-06-17 | Levy Richard S Director | Award | 454.00 | |
| 2026-06-17 | FOUSE JACQUALYN A Director | Award | 454.00 | |
| 2026-06-17 | Daly James M Director | Award | 454.00 | |
| 2026-06-17 | Brennan Daniel J. Director | Award | 404.00 | |
| 2026-06-17 | BAKER BROS. ADVISORS LP Director | Award | 908.00 | |
| 2026-06-17 | BAKER BROS. ADVISORS LP Director | Award | 908.00 | |
| 2026-06-01 | Soergel David Chief Medical Officer | Sell | 1.04K @ $495.74 | $517K |
| 2026-05-22 | Levy Richard S Director | Sell | 40.00 @ $506.68 | $20.3K |
| 2026-05-22 | Levy Richard S Director | Sell | 320.00 @ $508.24 | $163K |
| 2026-05-22 | Levy Richard S Director | Sell | 151.00 @ $510.36 | $77.1K |
| 2026-05-22 | Levy Richard S Director | Sell | 610.00 @ $511.40 | $312K |
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
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Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.