Big gain for Madrigal as data are more than enough for NASH submission
Needing only one of two primary endpoints, THRB agonist hits both, tripling biotech’s value and lifting others in same disease area
Even if Madrigal doesn’t end up being first to market with a drug for NASH, new Phase III results for resmetirom appear to show efficacy far more decisively than a potential competitor, driving a gain of more than $2.9 billion in market cap.
Shares of Madrigal Pharmaceuticals Inc. (NASDAQ:MDGL) gained $171.03 (268%) to $234.83, more than tripling in value Monday, after the company said resmetirom met both primary endpoints of the Phase III MAESTRO-NASH trial to treat non-alcoholic steatohepatitis. The company had said meeting one of the two would suffice for a regulatory submission seeking accelerated approval of the THRB agonist...
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