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Madrigal Q3 Rezdiffra sales jump on strong demand, posts first profit

By Reuters News


Overview

  • U.S. biopharma reported Q3 Rezdiffra sales up 50% yr/yr, first profitable quarter

  • Company nearly doubled Rezdiffra patient count from Q3 2025, reflecting strong adoption

  • Operating expenses fell, mainly due to lower R&D costs


Outlook

  • Company expects U.S. F2-F3 MASH market to grow over 30% by year-end 2026

  • Madrigal plans to initiate MAESTRO-CSPH Phase 3 trial for F4c MASH in first half of 2027

  • MAESTRO-NASH OUTCOMES trial data expected in late 2027


Result Drivers

  • REZDIFFRA DEMAND - Co said Q3 revenue growth was driven by increased U.S. demand for Rezdiffra

  • PRESCRIBER ADOPTION - Co attributed patient growth and sales to deepening prescriber adoption and high patient demand

  • MARKET EXPANSION - Co said the addressable U.S. F2-F3 MASH market is accelerating, on track for more than 30% growth by YE26


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Product Revenue

$431.27 mln

Q3 EPS

$1.83

Q3 Net Income

$55.44 mln

Q3 Operating Expenses

$375.28 mln

Q3 Operating Income

$55.99 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Madrigal Pharmaceuticals, Inc. is $670.00, about 55.4% above its November 2 closing price of $431.16

  • The stock recently traded at 108 times the next 12-month earnings vs. a P/E of 253 three months ago


Reuters Recommended Reads

  • Nov 2 - Neurocrine Biosciences Q3 revenue jumps 41% on strong INGREZZA, CRENESSITY, VYKAT XR demand

  • Nov 2 - Vertex Pharmaceuticals' Q3 revenue slightly beats estimates, outlook raised

  • Nov 2 - Krystal Biotech Q3 product revenue rises 30% on VYJUVEK demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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