Madrigal falls on lower-than-expected patients on fatty liver drug

Madrigal Pharmaceuticals

07/08/2024 20:11

** Shares of Madrigal Pharmaceuticals  MDGL.O  fall as much
as 15.4% to a two-month low of $225.51
    ** Brokerage Jefferies says there were 2,000 patients on
MDGL's recently approved fatty liver disease drug Rezdiffra at
the end of Q2 and commercial access is at over 50%
    ** Some investors felt there should have been a higher
number of patients on treatment and MDGL's language on 2025
Rezdiffra numbers seem muted - Jefferies
    ** Brokerage B.Riley says 2,000 patients is significantly
lower than patient-modeling ests. of over 4,000
    ** Company did note seeing increasing utilization of
weight-management drugs within their target segment - B.Riley
    ** MDGL's Q2 revenue of $14.6 mln, however, beats Wall
Street ests. of $3.9 mln - LSEG 
    ** Its Q2 loss of $7.10/shr is narrower than ests. of $7.53
    ** YTD, stock down 1.6%

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))