Madrigal Pharmaceuticals, Inc.
Description
Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH. The company is headquartered in West Conshohocken, Pennsylvania.
About
CEO
Mr. William J. Sibold
Employees
376
Instrument type
Common Stock
Sector
Healthcare
Industry
Biotechnology
MIC code
XNGS
Address
Four Tower Bridge, West Conshohocken, PA 19428, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 29, 2025 | — | — | — | — |
| Aug 5, 2025 | — | — | — | — |
| May 5, 2025 | — | — | — | — |
| Feb 26, 2025 | -4.32 | — | — | — |
| Oct 31, 2024 | -6.91 | -4.92 | 1.99 | -28.80% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 8 | — | 16 |
| Average estimate | — | -3.87 | — | -13.57 |
| Low estimate | — | -4.66 | — | -26.35 |
| High estimate | — | -3.34 | — | -8.29 |
| Last year EPS | — | -7.38 | — | -23.59 |
[stock_revenue_estimate]
Growth estimates
Current qtr
25.450%
Next qtr. (Mar 2025)
47.540%
Current year
-17.990%
Next year (Dec 2025)
42.490%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | — | — | — | — | — |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | 272.35M | 245.44M | 205.16M | 184.81M | 72.32M |
| Selling general and admin | 108.15M | 48.13M | 37.32M | 21.86M | 22.65M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -380.50M | -293.57M | -242.48M | -206.67M | -94.97M |
| Non operating interest income | |||||
| Income | 19.58M | 2.19M | 363,000 | 4.33M | 11.02M |
| Expense | 12.71M | 3.96M | — | — | — |
| Other income expense | — | — | 273,000 | 100,000 | — |
| Pretax income | -373.63M | -295.35M | -241.85M | -202.24M | -83.95M |
| Tax provision | — | — | — | — | — |
| Net income | -373.63M | -295.35M | -241.85M | -202.24M | -83.95M |
| Basic EPS | -19.99 | -17.23 | -14.63 | -13.09 | -5.45 |
| Diluted EPS | -19.99 | -17.23 | -14.63 | -13.09 | -5.45 |
| Basic average shares | 18.69M | 17.14M | 16.54M | 15.45M | 15.39M |
| Diluted average shares | 18.69M | 17.14M | 16.54M | 15.45M | 15.39M |
| EBITDA | -360.39M | -290.92M | -241.44M | -206.20M | -94.86M |
| Net income from continuing op. | -373.63M | -295.35M | -241.85M | -202.24M | -83.95M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 640.55M | 362.57M | 273.33M | 287.00M | 442.06M |
| Current assets | |||||
| Cash | 2.73M | 15.10M | 18.88M | 716,000 | 1.77M |
| Cash equivalents | 97.19M | 316.45M | 17.39M | 53.29M | 44.93M |
| Cash and cash equivalents | 99.92M | 331.55M | 36.27M | 54.00M | 46.70M |
| Other short term investments | 534.22M | 27.23M | 234.08M | 230.15M | 392.35M |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | 1.34M | 1.01M | 1.15M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 3.15M | 2.60M | 1.34M | 1.01M | 1.15M |
| Non current assets | |||||
| Properties | 3.27M | 1.20M | 1.65M | 1.83M | 1.86M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | — | — | — | — | — |
| Other non current assets | — | — | — | — | — |
| Total liabilities | 235.21M | 165.18M | 77.23M | 47.03M | 25.49M |
| Current liabilities | |||||
| Accounts payable | 28.04M | 23.83M | 21.38M | 1.02M | 1.18M |
| Accrued expenses | 72.95M | 76.60M | 48.28M | 40.54M | 20.86M |
| Short term debt | 527,000 | 602,000 | 410,000 | 318,000 | 315,000 |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | 17.03M | 14.86M | 6.77M | 4.69M | 2.78M |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 116.67M | 49.29M | 387,000 | 468,000 | 361,000 |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 |
| Retained earnings | -1.34B | -962.66M | -667.31M | -425.46M | -223.22M |
| Other shareholders equity | 468,000 | -32,000 | -80,000 | 47,000 | 216,000 |
| Total shareholders equity | 405.33M | 197.39M | 196.11M | 239.97M | 416.57M |
| Additional paid in capital | 1.74B | 1.16B | 863.50M | 665.39M | 639.57M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||
| Net Income | -373.63M | -295.35M | -241.85M | -202.24M | -83.95M | -32.81M | -31.15M | -26.39M | -6.84M | -86.16M | -90.19M | -62.79M | -47.38M | -37.47M | 79.09M | -92.62M | -63.50M | -57.27M | -68.86M | -45.93M | -27.88M |
| Depreciation | 527,000 | 467,000 | 405,000 | 471,000 | 112,000 | 96,000 | 77,000 | — | — | 673,000 | 516,000 | 738,000 | 1.46M | 1.93M | 2.46M | 2.72M | 3.35M | 3.66M | 2.46M | 1.55M | 1.01M |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 49.74M | 31.63M | 26.87M | 20.73M | 22.76M | 13.49M | 3.25M | 8.68M | — | 7.43M | 6.03M | 3.32M | 3.35M | 4.05M | 4.58M | 7.57M | — | — | — | — | — |
| Other Non-Cash Items | 2.41M | 797,000 | — | — | — | — | — | 1.21M | 3.60M | — | 6.03M | — | — | — | — | 7.57M | 5.42M | 4.79M | 3.18M | 1.63M | — |
| Accounts Receivable | — | — | — | — | — | — | — | 7,000 | 38,823 | — | — | — | 116,000 | -116,000 | 16.00M | — | — | — | — | — | — |
| Accounts Payable | 4.21M | 2.45M | 20.36M | -161,000 | -1.31M | 558,000 | 917,000 | -128,000 | 87,083 | -3.45M | 928,000 | 2.19M | 1.54M | -2.03M | 626,000 | 840,000 | — | — | — | — | — |
| Other Assets & Liabilities | — | — | — | — | — | — | — | — | 305,000 | 111,000 | -360,000 | 173,000 | -7.00M | -4.66M | -115.73M | 37.43M | 83.17M | -3.61M | -371,000 | 5.44M | 1.01M |
| Operating Cash Flow | -316.74M | -260.01M | -194.21M | -181.20M | -62.39M | -18.67M | -26.91M | -16.62M | -2.81M | -81.40M | -77.05M | -56.36M | -47.90M | -38.29M | -12.97M | -36.49M | 28.44M | -52.43M | -63.60M | -37.31M | -25.86M |
| Investing Activities | |||||||||||||||||||||
| Capital Expenditures | -1.48M | -217,000 | -209,000 | -334,000 | -172,000 | -22,000 | -125,000 | 695,000 | — | -144,000 | -769,000 | -505,000 | -690,000 | -136,000 | -454,000 | -2.18M | -2.35M | -1.58M | -4.88M | -1.59M | -769,000 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | 5.85M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -834.44M | -143.48M | -394.12M | -329.34M | -619.30M | -614.36M | -70.21M | -10.70M | — | -93.85M | -114.15M | -50.03M | -50.73M | -36.92M | -39.30M | -21.50M | -15.01M | -118.20M | -184.37M | -124.71M | -47.92M |
| Sale of Investments | 333.40M | 350.38M | 389.27M | 489.46M | 650.18M | 234.30M | 48.33M | 26.06M | — | 85.15M | 90.27M | 40.60M | 60.75M | 17.25M | 60.81M | — | 28.15M | 143.36M | 228.42M | 82.49M | 7.79M |
| Investing Cash Flow | -502.52M | 206.69M | -5.06M | 159.78M | 30.71M | -380.08M | -22.01M | 21.99M | — | -8.84M | -24.65M | -9.94M | 9.33M | -19.80M | 21.05M | -23.69M | 10.79M | 23.57M | 39.18M | -43.81M | -40.40M |
| Financing Activities | |||||||||||||||||||||
| Long-Term Debt Issuance | 65.00M | 50.00M | — | — | — | — | — | 8.50M | 3.30M | — | 13.50M | — | 2.00M | 15.00M | — | 880,000 | — | — | — | — | — |
| Long-Term Debt Payments | — | — | — | — | — | — | — | — | -9.26M | -9.49M | -2.63M | -4.25M | -579,000 | -1.83M | -2.18M | -2.79M | — | — | — | — | — |
| Other Financing Charges | -363,000 | -886,000 | — | — | — | — | — | — | — | — | — | — | — | 15.00M | — | 880,000 | 1.99M | 1.41M | 4.75M | 1.13M | — |
| Financing Cash Flow | 324.82M | 304.50M | 170.21M | 4.42M | — | 311.83M | 173.81M | 14.45M | -5.96M | 85.30M | 69.04M | 115.52M | 36.74M | 60.16M | -2.13M | -1.03M | 46.50M | 41.38M | 4.88M | 84.43M | 71.19M |
| Other Cash Details | |||||||||||||||||||||
| End Cash Position | 99.92M | 331.55M | 36.27M | 54.00M | 46.70M | 57.38M | 148.63M | 19.15M | 306,249 | 46.02M | 48.49M | 81.51M | 30.08M | 31.31M | 44.16M | 52.05M | 115.58M | 33.69M | 23.81M | 42.74M | 36.06M |
| Income Tax Paid | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | — | — | — | — | — | — | — | — | 957,000 | 1.88M | 2.51M | 1.70M | 1.91M | 578,000 | 312,000 | 489,000 | — | — | — | — | — |
| Free Cash Flow | -325.71M | -225.07M | -184.13M | -157.90M | -41.80M | -25.53M | -22.44M | -17.61M | -3.14M | -79.07M | -78.18M | -54.64M | -47.99M | -38.34M | -27.26M | -40.12M | 24.87M | -54.57M | -66.77M | -35.39M | -24.38M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 578,705 | 186.92M | 2.65% |
| Janus Henderson Forty Fund | Sep 30, 2024 | 565,929 | 182.80M | 2.59% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 492,683 | 159.14M | 2.26% |
| SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF | Nov 30, 2024 | 487,165 | 157.35M | 2.23% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 461,939 | 149.21M | 2.12% |
| Janus Henderson Contrarian Fund | Sep 30, 2024 | 319,654 | 103.25M | 1.47% |
| Vanguard Small Cap Value Index Fund | Sep 30, 2024 | 312,748 | 101.02M | 1.43% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 255,232 | 82.44M | 1.17% |
| Janus Henderson Global Life Sciences Fund | Sep 30, 2024 | 253,141 | 81.76M | 1.16% |
| Price (T.Rowe) Health Sciences Fund | Sep 30, 2024 | 219,753 | 70.98M | 1.01% |
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