Big gain for Madrigal as data are more than enough for NASH submission

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...