The strong revenue beat and continued patient growth confirm robust commercial execution. The initiation of the MGL-2086 Phase 1 trial and new IP patents extend the pipeline and competitive moat. Traders should watch for continued patient adds and any updates on the F4c outcomes trial as key catalysts.
Price Chart
Executive Summary
Madrigal Pharmaceuticals reported Q2 2026 Rezdiffra net sales of $364.3M, up 71% YoY, beating consensus revenue estimates. The net loss per share of -$1.99 also beat consensus estimates of -$2.23. The company continues to see strong commercial execution with over 49,000 patients on therapy and advanced its pipeline with MGL-2086 entering Phase 1, reinforcing its leadership in the MASH market.
Key Financial Metrics
Key Facts
- Q2 2026 Rezdiffra net sales of $364.3M, up 71% YoY from $212.8M
- Net loss of $57.9M or -$1.99 per share, beating consensus of -$2.23
- Over 49,000 patients on Rezdiffra as of June 30, 2026, more than doubling from Q2 2025
- Cash position of $838.9M as of June 30, 2026
- MGL-2086 (oral GLP-1) Phase 1 trial dosing initiated in June 2026
- Three new resmetirom patents issued, including one for F4c cirrhosis
Financial Impact
Revenue beat of $11.8M (3.3%) vs consensus; EPS beat of $0.24 (10.8%) vs consensus
Risk Factors
- Operating expenses remain high ($420.6M) as the company invests heavily in commercial and R&D activities
- Net loss widened YoY despite revenue growth due to increased SG&A and R&D spend
- Dependence on single product Rezdiffra for revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-050775 |
| Document: mdgl-20260730.htm | 0001628280-26-050775 |
| Document: 0001628280-26-050775-index-headers.html | 0001628280-26-050775 |
| Document: 0001628280-26-050775-index.html | 0001628280-26-050775 |
| Document: 0001628280-26-050775.txt | 0001628280-26-050775 |
| 8-K Data (Synthetic) | 0001628280-26-050775 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 12, 2026 7w ago | 8-K | $536.20 $533.12 | ▼ −0.57% | ▲ +1.32% | $492.38 (−8.17%) |
Jul 30, 2026 9w ago | 8-K | $493.11 $543.69 | ▲ +10.26% | ▲ +6.29% | $492.38 (−0.15%) |
May 22, 2026 18w ago | Insider Cluster | $524.28 $520.00 | ▼ −0.82% | ▲ +1.13% | $492.38 (−6.08%) |
May 6, 2026 21w ago | 8-K | $539.73 $488.15 | ▼ −9.56% | ▼ −12.34% | $492.38 (−8.77%) |
Apr 28, 2026 22w ago | 8-K | $518.58 $515.96 | ▼ −0.51% | ▼ −6.55% | $492.38 (−5.05%) |
Apr 22, 2026 23w ago | Press Release | $529.14 $511.82 | ▼ −3.27% | ▼ −6.44% | $492.38 (−6.95%) |
Mar 19, 2026 28w ago | Press Release | $441.16 $527.11 | ▲ +19.48% | ▲ +10.16% | $492.38 (+11.61%) |
Mar 2, 2026 30w ago | Insider Cluster | $435.62 $505.34 | ▲ +16.00% | ▲ +23.94% | $492.38 (+13.03%) |
Mar 2, 2026 30w ago | Insider Cluster | $435.62 $505.34 | ▲ +16.00% | ▲ +23.94% | $492.38 (+13.03%) |
US Market Status
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