---
title: "Madrigal Pharma | 8-K: FY2025 Q3 Revenue Beats Estimate at USD 287.3 M"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/264214562.md"
published_at: "2025-11-04T12:07:57.000Z"
---

# Madrigal Pharma | 8-K: FY2025 Q3 Revenue Beats Estimate at USD 287.3 M

Revenue: As of FY2025 Q3, the actual value is USD 287.3 M, beating the estimate of USD 247.7 M.

EBIT: As of FY2025 Q3, the actual value is USD -116.7 M.

### Segment Revenue

-   Third-quarter 2025 net revenues were $287.3 million, compared to $62.2 million in the comparable prior year period. The increase is due to increased demand for Rezdiffra.

### Operational Metrics

-   Operating expenses for the third quarter of 2025 were $401.2 million, compared to $178.5 million in the prior year period.
    -   Cost of Sales: $18.1 million, compared to $2.2 million in the prior year period.
    -   R&D Expense: $174.0 million, compared to $68.7 million in the prior year period, primarily due to the upfront expense for CSPC.
    -   SG&A Expense: $209.1 million, compared to $107.6 million in the prior year period, mainly due to increased commercial activities for Rezdiffra.
-   Interest Income: $10.3 million, compared to $13.0 million in the prior year period, due to lower interest rates.
-   Interest Expense: $7.5 million, compared to $3.7 million in the prior year period, due to a higher average outstanding principal balance.

### Cash Flow

-   As of September 30, 2025, Madrigal had cash, cash equivalents, restricted cash, and marketable securities of $1.1 billion, compared to $931.3 million as of December 31, 2024. The increase was primarily due to entering into a senior secured credit facility managed by Blue Owl Capital.

### Unique Metrics

-   More than 29,500 patients are on Rezdiffra, with over 10,000 healthcare providers prescribing it.

### Outlook / Guidance

-   Rezdiffra is expected to continue its growth trajectory, with sales annualizing above $1 billion and greater than 90 percent of the target population yet to be treated. Madrigal is advancing a strategy to extend its leadership by building a pipeline of complementary therapies, including the development of an oral GLP-1 in combination with Rezdiffra. The company holds U.S. patent protection for Rezdiffra into 2045, allowing for continued investment and innovation in the MASH treatment space.

### Related Stocks

- [MDGL.US - Madrigal Pharma](https://longbridge.com/en/quote/MDGL.US.md)

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|-------|-------------|-----|
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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.