Madrigal (MDGL) Posts Narrower than Expected Loss in Q2
West Conshohocken, Pennsylvania based Madrigal Pharmaceuticals, Inc. MDGL is developing small molecule drugs to treat cardiovascular, metabolic, and liver diseases. The company’s lead pipeline candidate- MGL-3196, is being evaluated for non-alcoholic steatohepatitis (“NASH”), a liver disease. The company is also evaluating the candidate for the treatment of heterozygous familial hypercholesterolemia (“HeFH”)
Madrigal’s earnings track record has been decent so far with a four-quarter average positive earnings surprise of 20.17%. The company beat estimates thrice in the four trailing quarters. Estimates have remained stable over the past one month.
Currently, Madrigal has a Zacks Rank #3 (Hold) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Madrigal reported a loss of 45 cents in the second quarter of 2018 which was narrower than the Zacks Consensus Estimate of loss of 56 cents.
Revenues: The company did not report any revenue in the reported quarter.Research and Development (R&D) expenses decreased 25% year over year to $5.1 million. General and administrative expenses increased 68.8% year over year to $2.7 million.
Share Market Activity: There was no movement in share price in pre-market trading.
Madrigal Pharmaceuticals, Inc. Price and EPS Surprise
Madrigal Pharmaceuticals, Inc. Price and EPS Surprise | Madrigal Pharmaceuticals, Inc. Quote
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