Madrigal Pharmaceuticals, Inc. (MDGL) Earnings Call Transcripts
Madrigal Pharmaceuticals, Inc.'s Latest Earnings Call - June 10, 2026
Madrigal Pharmaceuticals reported strong momentum in Q1 2026, driven by the successful launch of Rezdiffra, which achieved over $1.1 billion in sales since its launch. The company continues to see a growing patient base, with over 42,250 patients on Rezdiffra by the end of Q1 and a penetration rate of about 10% in a rapidly expanding market. Management maintained their focus on launch execution and pipeline development, signaling a positive outlook for the remainder of the year and beyond, although they do not expect to achieve profitability in 2026.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $1.1B (beat) |
| Patient Count | 42,250 (beat) |
| Market Penetration | 10% (positive) |
| Gross to Net | mid- to high 30s% (positive) |
| OpEx Growth | increasing (negative) |
| Profitability Expectation | null (negative) |
Guidance from management
Madrigal expects to maintain strong momentum in 2026, focusing on launch execution and pipeline advancements, but does not anticipate profitability this year.
What management said
Yes. Okay. Let me just mention then just to reiterate that gross to net, we take very seriously, and we also talked about on the Q1 call, no change here for Q2, looking at Q2 and the rest of the year, we feel very good about consensus of what we discussed on the Q1 call. So we're in great shape for the rest of the year.
What analysts pressed on
Analysts expressed concerns about the sustainability of growth and profitability, particularly in light of increasing OpEx and competition in the MASH market. There were questions regarding how management plans to balance investment in the business while achieving profitability.
Main topics on the call
- Launch Success of Rezdiffra — Madrigal reported over $1.1 billion in sales from Rezdiffra since its launch, with 42,250 patients on the drug by the end of Q1 2026. CEO Bill Sibold stated, "We've continued to have a best-in-industry launch with Rezdif...
- Market Dynamics and Growth Potential — The market for MASH is projected to grow from 315,000 to 460,000 patients, with management expecting double-digit growth for the foreseeable future. Sibold noted, "We think this is going to be modeled after...large speci...
- Pipeline Development — Madrigal has expanded its pipeline to over 10 programs, focusing on complementary therapies to enhance Rezdiffra's efficacy. The company is pursuing new IP and expects additional data readouts in the coming months.
- Gross to Net Favorability — Management indicated favorable gross to net dynamics, with expectations for mid- to high 30s range for the rest of 2026. CFO Mardi Dier stated, "We feel very good about consensus of what we discussed on the Q1 call."
Read the full Madrigal Pharmaceuticals, Inc. transcript (June 10, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Madrigal Pharmaceuticals, Inc.
Madrigal Pharmaceuticals, Inc. (MDGL) is a publicly listed company in the Biotechnology industry, within the Health Care sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 35 calls on record spanning May 19, 2020 to July 30, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 35 Madrigal Pharmaceuticals, Inc. earnings call transcripts on record, spanning May 19, 2020 to July 30, 2026. Based on this history, Madrigal Pharmaceuticals, Inc. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- MDGL
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Health Care
- Industry
- Biotechnology
- Calls on record
- 35
- First call
- May 19, 2020
- Most recent
- July 30, 2026
- Reporting cadence
- quarterly