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Madrigal Pharmaceuticals Provides Clinical and Business Updates and Reports 2022 First Quarter Financial Results
MAESTRO-NAFLD-1 late-breaker and three other Madrigal abstracts accepted for oral presentation at the EASL International Liver Congress™Data from the Phase 3
About this update from Madrigal Pharmaceuticals, Inc.
[{"type":"text","content":"MAESTRO-NAFLD-1 late-breaker and three other Madrigal abstracts accepted for oral presentation at the EASL International Liver Congress™Data from the Phase 3 MAESTRO-NAFLD-1 study continue to reinforce the safety and efficacy profiles of resmetiromMadrigal remains on track to disclose topline data from MAESTRO-NASH in the fourth quarter and anticipates filing for accelerated approval under Subpart H next yearPlanned MAESTRO-NASH Outcomes trial, a non-invasive Phase 3 study designed to accelerate the full approval timeline for non-cirrhotic NASH, will evaluate resmetirom effects on liver decompensation events in patients with early NASH cirrhosis Madrigal enters into term loan facility with ability to draw up to $250 million to support expansion of clinical development program and preparation for a potential U.S. launch of resmetirom Company to host conference call at 8:00 AM ET, May 9th, 2022 CONSHOHOCKEN, Pa., May 09, 2022 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a clinical-stage biopharmaceutical company pursuing novel therapeutics for non-alcoholic steatohepatitis (NASH), today announced acceptance of four abstracts for oral presentation at the European Association for the Study of the Liver’s (EASL) International Liver Congress, including a late-breaker presentation of data from the Phase 3 MAESTRO-NAFLD-1 trial, as well as other resmetirom clinical development program updates. The Company also reported financial results for the first quarter of 2022, including the completion of a $250 million term loan facility to support resmetirom clinical and commercial development objectives and position Madrigal for a potential first-to-market launch in NASH. The company drew $50 million from the facility at closing and has the ability to draw a further $200 million under the agreement. Paul Friedman, M.D., Chief Executive Officer of Madrigal, stated, “The MAESTRO-NAFLD-1 data as described below have reinforced our confidence in the safety and potential efficacy of resmetirom in treating non-cirrhotic NASH with significant fibrosis. We look forward to sharing detailed MAESTRO-NAFLD-1 results in a late-breaking presentation at EASL followed by topline results from the MAESTRO-NASH biopsy study in Q4. Based on the totality of efficacy data generated thus far in our clinical development program, we believe resmeti...