Madrigal Pharmaceuticals, Inc.

The company is a biopharmaceutical company focused on developing new treatments for metabolic dysfunction-associated steatohepatitis ("MASH"), a serious liver disease. MASH was previously known as nonalcoholic steatohepatitis ("NASH"). MASH is the leading cause of liver transplantation in women, the second leading cause of all liver transplantation in the United States, and the fastest-growing indication for liver transplantation in Europe. The company's medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed thyroid hormone receptor beta ("THR-β") agonist designed to target key underlying causes of MASH. In March 2024, Rezdiffra became the first therapy approved by the FDA for patients with MASH and was commercially available in the United States starting in April 2024. Following conditional marketing authorization ("CMA") from the European Commission ("EC"), the company launched Rezdiffra in Germany in September 2025. Rezdiffra was the first medication approved by both the FDA and EC for the treatment of adults with noncirrhotic MASH with moderate to advanced liver fibrosis (F2 to F3 fibrosis). The company is also evaluating Rezdiffra in patients with compensated MASH cirrhosis (consistent with F4c fibrosis) in its MAESTRO-NASH OUTCOMES trial. Additionally, the company is developing a focused pipeline of MASH treatments. Through business development, it has acquired rights to MGL-2086, an oral glucagon-like peptide-1 ("GLP-1") receptor agonist, ervogastat, an oral diacylglycerol O-acyltransferase 2 ("DGAT2") inhibitor, six small interfering RNA ("siRNA") programs, and additional preclinical MASH candidates. For the year ended December 31, 2025, the company generated $958.4 million in product revenue from sales of Rezdiffra.