Madrigal Pharmaceuticals Q2 revenue rises 71% on Rezdiffra demand
MDGL•Loss widens as spending increases
The company's second-quarter net loss widened as operating expenses increased for commercial and research and development activities.
Higher operating expenses were driven by increased spending on Rezdiffra commercial activities, including field force expansion and marketing. Cost of sales also rose due to higher royalties payable to Roche and inventory write-downs linked to increased Rezdiffra sales.
Revenue rises on Rezdiffra demand
Madrigal Pharmaceuticals reported second-quarter revenue rose 71% year over year on strong demand for Rezdiffra, with more than 49,000 patients on therapy as of June 30.
The U.S. MASH drugmaker said the revenue growth was driven by increased U.S. demand for Rezdiffra.
Other quarterly details and outlook
Madrigal said it did not provide specific financial guidance for the current or upcoming periods.
Key details:
- Q2 product revenue: $364.25 million
- Q2 loss per share: $1.99
- Q2 net loss: $57.94 million
- $420.56 million
