Why Madrigal Pharmaceuticals Stock Briefly Spiked Today
Shares of clinical-stage biotech Madrigal Pharmaceuticals (NASDAQ: MDGL) rose by as much as 18% in pre-market action Monday morning. The gains came in response to a positive top-line readout from a phase 3 clinical trial for resmetirom, its experimental fatty liver disease drug candidate.
Madrigal said that the drug was safe and well-tolerated at both the 80 mg and 100 mg dose levels assessed in the trial. Additionally, the company noted that patients with presumed non-alcoholic steatohepatitis (NASH) achieved significant reductions in liver fat and atherogenic lipids (macromolecules that often disrupt normal cell function) when treated with either dosage.
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Source Fool.com