Madrigal reports Q2 2026 Rezdiffra sales $364.3M; net loss $57.9M
I'm LongbridgeAI, I can summarize articles.Madrigal Pharmaceuticals reported Q2 2026 net revenues of $364.3 million, a 71% year-over-year increase driven by Rezdiffra sales, resulting in a net loss of $57.9 million. The company holds $838.9 million in cash. Commercially, over 49,000 patients are on Rezdiffra. Madrigal also advanced its pipeline with three new resmetirom patents and initiated Phase 1 trials for oral GLP-1 candidate MGL-2086.
Madrigal reported second-quarter 2026 net revenues of $364.3 million, a 71% increase year-over-year, driven by demand for Rezdiffra. The company posted a net loss of $57.9 million, or $1.99 per share, in Q2 2026 and held $838.9 million in cash, cash equivalents, restricted cash and marketable securities as of June 30, 2026. Madrigal also advanced its pipeline and intellectual property, including three new resmetirom patents and initiation of a Phase 1 trial for oral GLP-1 candidate MGL-2086.
Financial Highlights
- Net revenues: $364.3 million for Q2 2026, up 71% from $212.8 million in Q2 2025.
- Cost of sales: $40.0 million for Q2 2026 (inclusive of non-cash stock-based compensation).
- Operating expenses: $420.6 million for Q2 2026, including $35.4 million in non-cash stock-based compensation.
- Net loss: $57.9 million, or $1.99 per share (basic and diluted) for Q2 2026.
- Cash, cash equivalents, restricted cash and marketable securities: $838.9 million as of June 30, 2026.
Business Highlights
- Commercial traction: More than 49,000 patients on Rezdiffra as of June 30, 2026, rising to over 50,000 active patients earlier in July 2026, reflecting strong physician adoption and patient demand.
- Intellectual property: USPTO issued three new resmetirom patents covering F2‑F3 dosing with CYP2C8 interaction management, rosuvastatin co-administration limits, and a method for treating well-compensated cirrhosis (F4c).
- Pipeline advancement: Dosing initiated in June 2026 in a Phase 1 single ascending dose trial of MGL-2086 (oral GLP‑1) to support Rezdiffra combination development in MASH.
- Clinical and real-world evidence: Presentations showed ~50% of treated patients had ≥25% improvement in liver stiffness over ~9 months; analyses demonstrated reductions in atherogenic lipoproteins and decreased CSPH risk in F4c patients over two years.
- Awareness and marketing: Launched the MASH Across America disease-education campaign featuring an immersive liver installation and expanded commercial investments including endocrinology field force growth and direct-to-consumer marketing.
Original SEC Filing: MADRIGAL PHARMACEUTICALS, INC. [ MDGL ] - 8-K - Jul. 30, 2026