Is Madrigal Pharmaceuticals Stock a Buy?
Earlier this year, Madrigal Pharmaceuticals (NASDAQ: MDGL) launched its first product, Rezdiffra. It wasn't just an important breakthrough for the mid-cap biotech; Rezdiffra became the first medicine approved by the U.S. Food and Drug Administration (FDA) for the treatment of non-alcoholic steatohepatitis (NASH).
These positive developments have helped jolt Madrigal's stock. The shares are up by almost 24% since the year started, while the S&P 500 has gained 14% as of this writing. Is Madrigal still a buy at current levels? Let's find out.
NASH is caused by a buildup of fat in the liver leading to scarring, also known as fibrosis or cirrhosis when it is particularly severe. Earning the first approval in this field is quite an accomplishment for Madrigal. That's especially the case since the FDA did not require that patients get a liver biopsy before being prescribed Rezdiffra, which makes the medicine more accessible.
Source Fool.com
