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# Madrigal Posts $55.4 Million Quarterly Profit As Rezdiffra Sales Climb 50% To $431.3 Million
- URL: https://www.bullished.co/madrigal-posts-55-4-million-quarterly-profit-as-rezdiffra-sales-climb-50-to-431-3-million-7a253bb1/
- Published: 2026-11-03T14:34:26.000Z
- Updated: 2026-11-03T14:34:26.000Z
- Description: The MASH drugmaker says it reached its first profitable quarter, with Rezdiffra year-to-date sales of $1.1 billion.
- Author: Matteo Parrino
- Tags: SEC Filings, MDGL, Industry: Healthcare

[Madrigal Pharmaceuticals](https://www.bullished.co/tag/mdgl/), which develops treatments for the serious liver disease MASH, [reported net income of $55.4 million](https://www.sec.gov/Archives/edgar/data/0001157601/000162828026069093/exhibit991-93026earningspr.htm?ref=bullished.co) for the third quarter, against a net loss of $114.2 million a year earlier. Sales of its drug Rezdiffra rose 50% to $431.3 million, and the company said it achieved its first quarter of profitability.

## Profit on a 50% sales jump

Net income worked out to $1.83 per diluted share, versus a loss of $4.01 per share in the prior-year quarter. Rezdiffra net sales compare with $287.3 million a year earlier, which the company attributed to higher U.S. demand.

For the first nine months, Rezdiffra net sales reached [$1.1 billion](https://www.globenewswire.com/news-release/2026/11/03/3394036/0/en/madrigal-pharmaceuticals-reports-third-quarter-2026-financial-results-and-provides-corporate-updates.html?ref=bullished.co), a level the company called blockbuster status. CEO Bill Sibold said the drug got there "less than three years after launch."

[More than 55,850 patients](https://www.globenewswire.com/news-release/2026/11/03/3394036/0/en/madrigal-pharmaceuticals-reports-third-quarter-2026-financial-results-and-provides-corporate-updates.html?ref=bullished.co) were taking Rezdiffra as of Sept. 30, nearly double the number a year earlier. Cash, cash equivalents, restricted cash and marketable securities stood at $961.8 million, down from $988.6 million at Dec. 31, 2025.

## Costs: a one-time charge drops out

Operating expenses fell to $375.3 million from $401.2 million. The prior-year quarter included a one-time, upfront business development expense of $117.3 million, which pulled research and development spending down to $71.8 million from $174.0 million.

Selling, general and administrative costs rose to $265.7 million from $209.1 million, which the company tied to a field-force expansion in endocrinology that began in the fourth quarter of 2025 and to marketing, including a direct-to-consumer campaign. Cost of sales rose to $37.8 million from $18.1 million, mainly on higher royalties owed to Roche.

## A bigger market and a cirrhosis trial

Madrigal, which has sold Rezdiffra in the U.S. since April 2024, said the pool of addressable U.S. patients with moderate to advanced fibrosis (F2-F3) grew to more than 530,000 through June 30, 2026\. It says the pool is on track for growth of more than 30% by the end of 2026.

The company plans a second late-stage cirrhosis trial, MAESTRO-CSPH, expected to enroll more than 2,000 patients, with a start expected in the first half of 2027, subject to regulatory discussions. Data from its ongoing MAESTRO-NASH OUTCOMES trial are expected in late 2027.

Madrigal has 18 abstracts accepted at the AASLD Liver Meeting in Denver, Nov. 5-9, 13 of them based on real-world evidence. It also appointed John C. Reed, a Johnson & Johnson research executive, to its board in August.

The next test comes at the Denver liver meeting, where Madrigal will present its 18 abstracts from Nov. 5 to Nov. 9.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — MADRIGAL PHARMACEUTICALS, INC. (MDGL)](https://www.sec.gov/Archives/edgar/data/0001157601/000162828026069093/mdgl-20261103.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit exhibit991-93026earningspr.htm — MADRIGAL PHARMACEUTICALS, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001157601/000162828026069093/exhibit991-93026earningspr.htm?ref=bullished.co) — SEC EDGAR
- [Madrigal Pharmaceuticals Reports Third-Quarter 2026](https://www.globenewswire.com/news-release/2026/11/03/3394036/0/en/madrigal-pharmaceuticals-reports-third-quarter-2026-financial-results-and-provides-corporate-updates.html?ref=bullished.co) — globenewswire.com

### More on Madrigal Pharmaceuticals

- [Madrigal Plans A 2,000-Patient Cirrhosis Trial, Saying It's What 'Leaders In A Space' Do](https://www.bullished.co/madrigal-plans-a-2-000-patient-cirrhosis-trial-saying-its-what-leaders-in-a-space-do-27444161/)

[All Madrigal Pharmaceuticals (MDGL) coverage →](https://www.bullished.co/tag/mdgl/)