Madrigal Pharmaceuticals Stock Surges After FDA Approves New Treatment
Shares of Madrigal Pharmaceuticals jumped more than 13% Friday after its treatment for a fatty liver disease became the first medicine of its kind to receive approval from the Food and Drug Administration.
Tweet on Madrigal Pharmaceuticals
Shares of Madrigal Pharmaceuticals jumped more than 13% Friday after its treatment for a fatty liver disease became the first medicine of its kind to receive approval from the Food and Drug Administration.#biotech #pharmacy #shares pic.twitter.com/4Y3LUs6ar9
— The_Journalbiz (@the_journalbiz) March 15, 2024
Factset chart
The FDA approved resmetirom, sold as Rezdiffra, a once-daily oral medication for noncirrhotic non-alcoholic steatohepatitis, or NASH, Thursday. The advanced fatty liver disease, which causes damage and swelling, affects millions of Americans and leads to liver dysfunction and scarring.
Analysts at Jefferies estimate Rezdiffra could bring in $3.4 billion in peak sales in the U.S. and European Union.
Shares of the biotech skyrocketed more than 250% in 2022 after the company released positive trial results for the drug.
Â
