Madrigal Pharmaceuticals, Inc. (MDGL) Stock Price & How to Invest
Last updated July 2026
Short answer
MDGL is Madrigal Pharmaceuticals, a commercial-stage biotech listed on the Nasdaq whose approved drug Rezdiffra (resmetirom) is the first FDA-cleared therapy for MASH (metabolic dysfunction-associated steatohepatitis). Investing in it is a bet on a single fast-growing liver-disease franchise scaling toward blockbuster status.
MDGL stock price
As of 2026-07-24, Madrigal Pharmaceuticals, Inc. (MDGL) last closed at $544.51, up 82.5% over the past year. Over the past 52 weeks it has traded between $289.88 and $602.83.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Madrigal Pharmaceuticals, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Madrigal Pharmaceuticals, Inc. (MDGL) do?
Madrigal Pharmaceuticals (Nasdaq: MDGL) is a commercial-stage biopharmaceutical company built around Rezdiffra (resmetirom), an oral thyroid hormone receptor beta agonist that in March 2024 became the first FDA-approved treatment for MASH with moderate to advanced fibrosis. The company has transitioned from a clinical-stage developer into a revenue-generating commercial operation, with more than 42,250 patients on Rezdiffra as of the first quarter of 2026 and a US sales force focused on liver specialists and the roughly 460,000 diagnosed F2/F3 MASH patients being seen by those doctors.
The investment picture is a concentrated bet on a single blockbuster-track drug. Rezdiffra revenue grew 127% year over year to about $311 million in the first quarter of 2026 and has surpassed $1.1 billion on a trailing basis, yet Madrigal still runs at a net loss as it invests heavily in commercial reach, label expansion and pipeline. The stock trades on the durability of that revenue ramp and on how well the company defends its first-mover position as GLP-1 drugs and FGF21 analogs move into the MASH market.
What's driving Madrigal Pharmaceuticals, Inc. (MDGL)?
1. Rezdiffra revenue ramp
Rezdiffra net sales grew about 127% year over year to roughly $311 million in the first quarter of 2026, crossing $1.1 billion on a trailing-twelve-month basis less than two years after launch. Patient count reached more than 42,250, up about 2.5x from a year earlier. The central driver is whether that adoption curve keeps compounding as more prescribers and diagnosed patients enter the funnel.
2. MASH market expansion
The diagnosed F2/F3 MASH population seen by target liver specialists in the US grew nearly 50% from about 315,000 to 460,000 patients between year-end 2023 and year-end 2025. A larger diagnosed pool and rising disease awareness expand the addressable market Rezdiffra can penetrate as the first approved therapy.
3. Label and pipeline expansion
Madrigal is pursuing broader use of resmetirom, including in earlier and more advanced (compensated cirrhosis) MASH populations, and has added assets through business development, including an RNAi MASH deal sourced from China. Success in widening the label and building a multi-asset pipeline would reduce reliance on a single indication.
4. Path toward profitability
The company reported a net loss of about $94 million in the first quarter of 2026 against roughly $404 million of operating expenses, ending the period with about $818 million in cash and marketable securities. The bull case rests on revenue scaling past a heavy commercial and R&D cost base to reach sustained profitability.
What are the risks to Madrigal Pharmaceuticals, Inc. (MDGL)?
MDGL is a single-product company, so the entire thesis hinges on Rezdiffra, and any slowdown in patient adds, reimbursement pressure or safety signal would hit hard. Competition is intensifying: Novo Nordisk's Wegovy won FDA approval in MASH in 2025, and late-stage rivals include Viking Therapeutics' VK2809 and FGF21 analogs such as Akero's efruxifermin, 89Bio's pegozafermin and GSK's efimosfermin. The company remains unprofitable and could need additional capital or carry debt (it has an outstanding term loan) if losses persist. Valuation is rich relative to current sales, leaving little room for execution stumbles. Biotech-specific risks around clinical trials, regulatory decisions and manufacturing also apply.
How is Madrigal Pharmaceuticals, Inc. (MDGL) valued? (approximate, JULY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Madrigal Pharmaceuticals, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$1.1B
- Q1 2026 Rezdiffra net sales: ~$311M (+127% YoY)
- Q1 2026 net loss: ~$94M
- Market cap: ~$12B
- Price/sales (TTM): ~11x
- Cash and marketable securities: ~$818M
Madrigal is valued as a high-growth commercial biotech, trading around 11 times trailing sales while still reporting quarterly losses as it funds commercialization. The market is pricing in continued rapid revenue growth from Rezdiffra rather than current earnings. Figures are approximate and drawn from first-quarter 2026 reporting.
Who competes with Madrigal Pharmaceuticals, Inc. (MDGL)?
GLP-1 and metabolic players
Novo Nordisk, whose Wegovy (semaglutide) won FDA approval for MASH with moderate to advanced fibrosis in 2025, is the most direct large-cap competitor. GLP-1 drugs address MASH from the metabolic and weight-loss angle and bring far larger commercial footprints.
Late-stage MASH biotechs
Viking Therapeutics (VK2809, an oral THR-beta agonist in the same class as Rezdiffra) and FGF21 analog developers such as Akero Therapeutics (efruxifermin) and 89Bio (pegozafermin) are advancing therapies that could compete on fibrosis outcomes. GSK's efimosfermin, acquired via deal-making, adds Big Pharma weight to the field.
Diversified specialty pharma
Broader liver and metabolic-disease companies and large pharma with cardiometabolic pipelines represent the wider competitive set, competing for prescriber attention, reimbursement and combination-therapy positioning as the MASH market matures.
How to invest in Madrigal Pharmaceuticals, Inc. (MDGL)
There are three common ways to get MDGL exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so MDGL sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where MDGL fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Madrigal Pharmaceuticals, Inc. (MDGL)
MDGL is a one-product biotech growth story: real, rapidly compounding Rezdiffra revenue offset by ongoing losses and a widening field of MASH competitors.
More on Madrigal Pharmaceuticals, Inc. (MDGL)
Whether MDGL is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MDGL a buy?, and where the stock could go from here in the MDGL stock forecast.
For income investors, whether MDGL pays a dividend and how the payout looks is covered in does MDGL pay a dividend?
Build a basket around MDGL with Walnut
Use Madrigal Pharmaceuticals, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Madrigal Pharmaceuticals do?
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Madrigal is a commercial-stage biopharmaceutical company focused on liver and metabolic disease. Its lead product, Rezdiffra (resmetirom), is the first FDA-approved treatment for MASH with moderate to advanced fibrosis and drives essentially all of the company's revenue.
What exchange is MDGL listed on?
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MDGL trades on the Nasdaq Stock Market under the ticker MDGL. It is a US-based company, so investors can access it through a standard US brokerage account.
What is Rezdiffra?
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Rezdiffra (resmetirom) is an oral, once-daily thyroid hormone receptor beta agonist. Approved by the FDA in March 2024, it was the first therapy cleared specifically for MASH (formerly called NASH) in adults with moderate to advanced liver fibrosis.
Is Madrigal profitable?
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No. Despite rapidly growing Rezdiffra sales, Madrigal reported a net loss of roughly $94 million in the first quarter of 2026 as it invests heavily in commercialization and research. The company ended the quarter with about $818 million in cash and marketable securities.
How fast is Rezdiffra growing?
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Rezdiffra net sales grew about 127% year over year to roughly $311 million in the first quarter of 2026, and trailing-twelve-month sales have surpassed $1.1 billion. More than 42,250 patients were on the therapy as of the end of the quarter.
Who competes with Madrigal in MASH?
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Key competitors include Novo Nordisk, whose Wegovy was approved for MASH in 2025, plus late-stage biotechs such as Viking Therapeutics (VK2809), Akero Therapeutics (efruxifermin), 89Bio (pegozafermin) and GSK (efimosfermin).
What are the main risks of investing in MDGL?
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The main risks are heavy reliance on a single product, rising competition from GLP-1 drugs and FGF21 analogs, ongoing losses that may require more capital, and a valuation that already prices in strong future growth. Clinical, regulatory and reimbursement risks common to biotech also apply.
How can I invest in MDGL?
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MDGL shares can be bought through any brokerage that offers US-listed stocks. Investing in it is a concentrated bet on the MASH franchise, so many investors consider it alongside other holdings rather than in isolation. Walnut is not an investment adviser, and this is descriptive information, not a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Madrigal Pharmaceuticals, Inc.'s investor relations page or your broker before making investment decisions.