NASDAQ$MDGL
Madrigal Pharmaceuticals Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Madrigal reported third quarter financial results and completed enrollment in Phase 3 MAESTRO NAFLD-1 trial
Madrigal Pharmaceuticals announced the completion of enrollment in its MAESTRO NAFLD-1 clinical trial and reported its third quarter 2020 financial results. The company's cash, cash equivalents, and marketable securities totaled $335.9 million. Operating expenses were $58.8 million, with research and development expenses accounting for $53.3 million.
- Completed enrollment in MAESTRO NAFLD-1 clinical trial.
- Cash, cash equivalents and marketable securities totaled $335.9 million.
- Operating expenses for the quarter were $58.8 million.
- Research and development expenses for the quarter were $53.3 million.
Headline financials
Revenue & EPS history
Madrigal · Revenue · Quarterly
$0
Forward guidance
Madrigal expects to report topline 52-week data from the blinded arms of the MAESTRO-NAFLD-1 study by the end of next year and completion of targeted enrollment in the serial liver biopsy portion of MAESTRO-NASH will be delayed past the end of 2020 by a few months.
Tailwinds
- Completion of enrollment in MAESTRO-NAFLD-1 will enable reporting of topline 52-week data by the end of next year.
- Early data from the open label arm of MAESTRO-NAFLD-1 and Phase 2 studies suggest potential to achieve primary and secondary endpoints in Phase 3 NASH program.
- Week 16 MRE data from MAESTRO-NAFLD-1 open label arm suggests potential for a robust non-invasive imaging test to demonstrate a fibrosis benefit with resmetirom treatment.
- Resmetirom lowers multiple atherogenic lipids, including LDL cholesterol, apolipoprotein B, triglycerides, and lipoprotein (a).
- Resmetirom's ability to decrease liver fat and reduce atherogenic lipids are being further evaluated in both MAESTRO Phase 3 clinical studies.
Headwinds
- COVID-19 pandemic remains unpredictable.
- Completion of targeted enrollment in the serial liver biopsy portion of MAESTRO-NASH will be delayed past the end of 2020 by a few months.
- NASH patients are at a substantially increased CV risk compared to the general population.
- Forward-looking statements are subject to a number of risks and uncertainties including clinical development of resmetirom and enrollment uncertainties.
- Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
-0.6%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+7.8%
Avg return
30 days after
45%
29 / 65 earnings
Positive
+48.0%
Q3 2024
Best reaction
-23.3%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -1.2% | -3.2% | |
| Q4 2025 | -11.1% | -10.5% | -10.2% | |
| Q3 2025 | +7.8% | +18.7% | +42.2% | |
| Q1 2025 | -1.9% | -11.6% | -17.6% | |
| Q4 2024 | +15.0% | +1.3% | +5.9% | |
| Q3 2024 | +48.0% | +56.4% | +52.0% | |
| Q2 2024 | -8.6% | -9.2% | -8.5% | |
| Q1 2024 | -11.7% | -12.9% | +2.5% | |
| Q4 2023 | -1.5% | +2.8% | +11.4% | |
| Q3 2023 | +3.6% | -5.5% | +61.1% | |
| Q2 2023 | -6.0% | -4.5% | +6.4% | |
| Q1 2023 | -5.4% | -5.2% | -12.8% | |
| Q4 2022 | -5.4% | -7.1% | -19.6% | |
| Q3 2022 | -6.7% | -10.1% | +12.8% | |
| Q2 2022 | +22.8% | +12.1% | +10.8% | |
| Q1 2022 | -0.2% | +1.8% | +15.0% | |
| Q4 2021 | +7.9% | +13.1% | +9.2% | |
| Q3 2021 | -0.5% | -1.6% | -16.6% | |
| Q2 2021 | +7.5% | +0.8% | -4.5% | |
| Q1 2021 | +0.7% | +2.3% | -22.0% | |
| Q4 2020 | -1.3% | -6.9% | -5.3% | |
| Q3 2020 | -6.8% | -2.2% | -10.9% | |
| Q2 2020 | -1.1% | -2.2% | +2.3% | |
| Q1 2020 | +2.9% | +25.1% | +27.6% | |
| Q4 2019 | -2.5% | +2.6% | -19.7% | |
| Q3 2019 | +0.1% | +7.9% | +22.1% | |
| Q2 2019 | +2.0% | +2.0% | +9.8% | |
| Q1 2019 | +0.2% | -3.4% | -8.0% | |
| Q4 2018 | -2.4% | +3.1% | -6.9% | |
| Q3 2018 | +5.2% | -7.8% | -39.7% | |
| Q2 2018 | -1.0% | -5.9% | -11.0% | |
| Q1 2018 | -0.0% | +2.2% | +138.3% | |
| Q4 2017 | -16.4% | -20.4% | -15.8% | |
| Q3 2017 | -0.2% | -5.7% | +84.7% | |
| Q2 2017 | -0.8% | +1.7% | +13.5% | |
| Q1 2017 | +2.1% | +4.5% | -0.3% | |
| Q4 2016 | -2.2% | -4.9% | +6.8% | |
| Q3 2016 | +5.3% | +2.4% | -1.4% | |
| Q2 2016 | +3.8% | +11.5% | +1.9% | |
| Q1 2016 | +10.5% | — | — | |
| Q4 2015 | -23.3% | — | — | |
| Q3 2015 | +0.0% | — | — | |
| Q2 2015 | -3.4% | — | — | |
| Q1 2015 | +1.3% | — | — | |
| Q4 2014 | -6.1% | — | — | |
| Q3 2014 | +10.6% | — | — | |
| Q2 2014 | +0.5% | — | — | |
| Q1 2014 | +3.3% | — | — | |
| Q4 2013 | -10.1% | — | — | |
| Q3 2013 | +0.9% | — | — | |
| Q2 2013 | -4.2% | — | — | |
| Q1 2013 | +2.5% | — | — | |
| Q4 2012 | -5.0% | — | — | |
| Q3 2012 | -5.2% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | -11.2% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q4 2009 | +0.2% | — | — | |
| Q3 2011 | +4.4% | — | — | |
| Q2 2011 | -10.1% | — | — | |
| Q4 2010 | -10.1% | — | — | |
| Q1 2011 | +1.6% | — | — | |
| Q3 2010 | -6.1% | — | — | |
| Q2 2010 | -5.6% | — | — | |
| Q1 2010 | -16.5% | — | — |
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