Why Madrigal Pharmaceuticals Was a Top Stock This Week
This week was going down as one to remember for Madrigal Pharmaceuticals (NASDAQ: MDGL). According to data compiled by S&P Global Market Intelligence, the biotech's shares were an eye-watering 350% higher week to date, as of Thursday's market close. Biotechs tend to pop like that when they report excellent clinical-trial results; such was the case with Madrigal.
On Monday, Madrigal announced that its pipeline drug had done extremely well in late-stage testing. Specifically, this is resmetirom, a drug that targets a liver disease called nonalcoholic steatohepatitis (NASH).
Resmetirom met both primary endpoints of a phase 3 clinical trial involving over 950 patients, the company said. It also produced "potentially clinically meaningful effects," in both the 80 mg and 100 mg orally administered doses that were being tested.
Source Fool.com
