--- title: "Madrigal Pharma | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 364.3 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294350950.md" datetime: "2026-07-30T11:05:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294350950.md) - [en](https://longbridge.com/en/news/294350950.md) - [zh-HK](https://longbridge.com/zh-HK/news/294350950.md) --- # Madrigal Pharma | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 364.3 M Revenue: As of FY2026 Q2, the actual value is USD 364.3 M, beating the estimate of USD 353.17 M. EPS: As of FY2026 Q2, the actual value is USD -1.99, beating the estimate of USD -2.6404. EBIT: As of FY2026 Q2, the actual value is USD -56.3 M. ### Financial Performance (Second Quarter 2026) #### Total Revenues Total net revenues for Madrigal Pharmaceuticals, Inc. were $364.3 million, marking a 71% increase compared to $212.8 million in the comparable prior year period, primarily driven by increased demand for Rezdiffra in the U.S. Rezdiffra® (resmetirom) net sales specifically accounted for $364.3 million, reflecting a 71% year-over-year growth. The trailing-12-month net sales for Rezdiffra have reached nearly $1.3 billion. #### Operating Expenses Operating expenses totaled $420.6 million, an increase from $260.0 million in the prior year period. This figure includes $35.4 million in non-cash stock-based compensation expense for the current quarter, compared to $25.2 million in the prior year period. #### Cost of Sales Cost of sales was $40.0 million, an increase from $9.1 million in the comparable prior year period. This rise was mainly due to higher royalties payable to Roche following increased net sales of Rezdiffra, alongside a write-down of certain work-in-process inventory. #### Research & Development (R&D) Expenses R&D expenses amounted to $91.2 million, compared to $54.1 million in the comparable prior year period. The increase was primarily attributable to one-time, upfront business development expenses of $25.0 million. #### Selling, General & Administrative (SG&A) Expenses SG&A expenses were $289.4 million, up from $196.9 million in the comparable prior year period. This increase was predominantly due to continued investment in commercial activities for Rezdiffra, including headcount for the endocrinology field force expansion and a direct-to-consumer (DTC) campaign. #### Net Loss Madrigal Pharmaceuticals, Inc. reported a net loss for the quarter of - $57.9 million, or - $1.99 per share (basic and diluted). This compares to a net loss of - $42.3 million, or - $1.50 per share (basic and diluted) in the comparable prior year period. The second-quarter 2026 net loss includes one-time, upfront business development expenses of $25.0 million, which accounted for - $0.86 per share. #### Cash, Cash Equivalents, Restricted Cash and Marketable Securities As of June 30, 2026, Madrigal Pharmaceuticals, Inc. held $838.9 million in cash, cash equivalents, restricted cash, and marketable securities. This represents a decrease from $988.6 million recorded as of December 31, 2025. ### Operational Metrics and Corporate Updates #### Rezdiffra Patient Adoption As of June 30, 2026, over 49,000 patients were on Rezdiffra, more than doubling the patient count from the second quarter of 2025. Earlier in July 2026, Madrigal Pharmaceuticals, Inc. surpassed 50,000 active patients on Rezdiffra. #### Intellectual Property Madrigal Pharmaceuticals, Inc. strengthened its IP portfolio with three new resmetirom patents. U.S. Patent No. 12,667,575, related to administering a weight-threshold step-down dose for F2-F3 MASH patients using a moderate CYP2C8 inhibitor, is expected to provide protection into 2045. U.S. Patent No. 12,661,359, concerning the administration of rosuvastatin and resmetirom, is expected to provide protection into 2042. U.S. Patent No. 12,661,361, for treating well-compensated cirrhosis (F4c) with resmetirom, is expected to provide protection into 2042. #### Pipeline Advancement Dosing for MGL-2086 (oral GLP-1) in a Phase 1 trial was initiated in June 2026, as part of a combination program with Rezdiffra for MASH. #### Clinical Data and Awareness Real-world data presented at the EASL Congress in May showed that nearly 50% of Rezdiffra-treated patients achieved at least a 25% improvement in liver stiffness over a mean follow-up of approximately nine months. A MASH-specific risk stratification model (ANTICIPATE-NASH) applied to MAESTRO-NAFLD-1 OLE F4c results indicated a decrease in the proportion of patients classified as higher risk for clinically significant portal hypertension (CSPH) from 75% at baseline to 54.5% at Year 2. Secondary analysis from Phase 3 MAESTRO-NASH and MAESTRO-NAFLD-1 trials demonstrated that Rezdiffra improved key histologic MASH endpoints and significantly reduced multiple atherogenic lipoproteins associated with cardiovascular risk, including LDL and Lp(a). Madrigal Pharmaceuticals, Inc. launched the “MASH Across America” disease education campaign to expand disease awareness. ### Outlook Madrigal Pharmaceuticals, Inc. anticipates continued growth for Rezdiffra and the MASH market, aiming to maximize Rezdiffra’s long-term value while building an industry-leading MASH pipeline. The company expects its strengthened patent portfolio to provide protection for resmetirom into 2042 and 2045. Madrigal Pharmaceuticals, Inc. is also advancing clinical development plans for pipeline candidates, including MGL-2086, with the goal of extending its leadership in MASH therapies. ### Related Stocks - [MDGL.US](https://longbridge.com/en/quote/MDGL.US.md) ## Related News & Research - [Madrigal reports Q2 2026 Rezdiffra sales $364.3M; net loss $57.9M](https://longbridge.com/en/news/294353141.md) - [First Trust Advisors LP Sells 2,586 Shares of Madrigal Pharmaceuticals, Inc. $MDGL](https://longbridge.com/en/news/294471972.md) - [Madrigal Pharmaceuticals President, CEO Sold Shares Worth Over $1.3M](https://longbridge.com/en/news/293269781.md) - [ALKS: Q2 2026 revenue and profitability surged following the Avadel acquisition and product growth](https://longbridge.com/en/news/294060584.md) - [Amneal Q2 revenue beats on specialty segment growth](https://longbridge.com/en/news/294342815.md)