Why Madrigal Pharmaceuticals Stock Is On Fire Today
Shares of Madrigal Pharmaceuticals (NASDAQ: MDGL) are rocketing higher today after the company announced positive mid-stage results for its experimental non-alcoholic steatohepatitis (NASH) drug, MGL-3196. Turning to the specifics, Madrigal said that patients treated with MGL-3196 experienced a significant decline in the amount of fat in the liver, assessed by magnetic resonance imaging, compared to those receiving a placebo.
As of 1:21 p.m. EST, the drugmaker's shares are up by a healthy 75% on over 20 times the average daily volume in the wake of this encouraging clinical outcome.
Image Source: Getty Images.
Source: Fool.com