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Madrigal Pharmaceuticals Announces $300+ Million In Financing Events To Advance Resmetirom Program

Madrigal Pharmaceuticals Announces $300+ Million In Financing Events To Advance Resmetirom Program

12/21/22, 9:20 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgconshohocken
Money raised
$300 million
Industry
biotechnology
health care
Investors
Hercules Capital, Inc.
Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) today announced that it has raised $259 million in gross equity (or $255 million in net proceeds) from equity securities issuances and an additional $50 million in liquidity commitments following the achievement of the clinical milestone under its Hercules Credit Facility.

Company Info

Company
Madrigal
Location
conshohocken, pennsylvania, united states
Additional Info
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a clinical-stage biopharmaceutical company pursuing novel therapeutics for non-alcoholic steatohepatitis (NASH), a liver disease with high unmet medical need. Madrigal’s lead candidate, resmetirom, is a once daily, oral, thyroid hormone receptor (THR)-β selective agonist that is designed to target key underlying causes of NASH in the liver. Resmetirom is currently being evaluated in two Phase 3 clinical studies, MAESTRO-NASH and MAESTRO-NAFLD-1, designed to demonstrate multiple benefits in patients with NASH.
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