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Madrigal’s Rezdiffra Brings In $14.6m During Its First Quarter

Share Price Declines On Various Concerns

 
• By Joseph Haas

The first approved NASH drug topped revenue expectations during its initial quarter on the market, but Madrigal’s share price declined by 12%.

Madrigal's Rezdiffra is off to a solid launch, although some investors disagree

Madrigal Pharmaceuticals, Inc. reported $14.6m in second quarter US sales revenue for Rezdiffra (resmetirom) on 7 August, which the company and analysts both described as a solid early launch for the first approved drug for non-alcoholic steatohepatitis (NASH). The drug’s sales for its first quarter on the market came in well ahead of most projections, including consensus estimates, and yet Madrigal’s share price declined 12% during the day’s trading, finishing the trading day at $234.08 per share.

Analysts proffered several theories for the share price decrease, including that investors may have expected even higher revenue or a...

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