Madrigal Pharmaceuticals, Inc. (MDGL) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for standing by. Welcome to Madrigal Pharmaceuticals' first quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. As a reminder, today's conference call is being recorded. I would now like to introduce Ms. Tina Ventura, Chief Investor Relations Officer. Please go ahead. Thanks, Brula. Good morning, everyone, and thank you for joining us to discuss Madrigal's first quarter 2026 earnings. We issued a press release this morning and posted a slide deck to accompany this webcast on the Investor Relations section of our website. On the call with me today is Bill Sibyl, Chief Executive Officer, Dave Sorgel, Chief Medical Officer, and Marty Deer, Chief Financial Officer. They will provide prepared remarks, followed by Q&A. Please note on slide two, we will be making certain forward-looking statements today. We refer you to our SEC filings for a discussion of the risks that may cause actual results to differ from the forward-looking statements. With that, I will now turn the call over to Bill on slide three. Thanks, Tina. Good morning and thanks for joining us. 2026 is off to a terrific start. We've made impressive progress towards our strategic growth priorities to maximize the value of ResDifera and build our pipeline. ResDifera has achieved blockbuster status, generating more than $1.1 billion in net sales in the last 12 months. That's a billion-dollar run rate in a market that's still in its infancy. Penetration is low, the diagnosis rate is low, unmet need is high, and the market is expanding at a double-digit pace. When you put those fundamentals together, the future growth opportunity is quite remarkable. Competition has ...