Madrigal Pharmaceuticals Announces $300+ Million In Financing Events To Advance Resmetirom Program
12/21/22, 9:20 PM
Location
conshohockenMoney 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
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.