MDGL at a glance
MADRIGAL PHARMACEUTICALS, INC. (MDGL, SEC CIK 1157601) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on August 12, 2026 and Form 4 insider filings as recently as September 11, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), MADRIGAL PHARMACEUTICALS, INC. (MDGL) reported revenue of $958.4 million (up 432.1% from FY2024) and a net loss of $288.3 million. Diluted EPS was -$12.85.
- As of June 30, 2026, 37 institutional investment managers tracked by SignalX reported holding MADRIGAL PHARMACEUTICALS, INC. (MDGL) shares worth $3.9 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Sibold William John on September 11, 2026 of 368 shares at $541.64 per share.
- In the last 90 days, MDGL insiders reported 0 open-market purchases ($0) and 35 open-market sales ($7.9M) on Form 4, a net sale of $7.9M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $958.4M
- +432.1% vs prior year
- Insiders · 90 days
- 0 buys · 35 sells
- Net −$7.9M
- 13F holders
- 37 funds
- $3.9B · −1 vs prior quarter
- Latest 8-K
- Aug 12, 2026
- Item 5.02 · Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: development and commercialization of pharmaceutical therapies for liver diseases, primarily noncirrhotic MASH
- New product: Launch and full-year commercialization of Rezdiffra in U.S. (approved Mar 2024) and market entry in Germany (Sep 2025)
- Strategic shift: Expansion of commercial infrastructure and geographic presence in Europe with emphasis on Rezdiffra sales growth
- Quantitative highlight: Product revenue surged to $958.4M in 2025 from $180.1M in 2024, with SG&A expenses increasing 87% to $813.8M reflecting expanded commercial activities
- Noteworthy fact: Entered $500M senior secured credit facility in July 2025, repaid and terminated prior $250M Hercules Loan Facility, signaling strengthened financial positioning
Risk Factors
- Regulatory risk: accelerated approval of Rezdiffra under FDA Subpart H pathway contingent on completing MAESTRO-NASH trials for full approval
- Geopolitical/macro risk: U.S. Medicare drug price negotiation program starting 2026 may cap prices and impose rebates on high-spend drugs like Rezdiffra
- Operational risk: dependence on third-party manufacturers to meet cGMP standards and commercial supply demands for Rezdiffra
- Competitive risk: potential competition from off-label use of marketed products and future MASH therapies impacting Rezdiffra market share
- Financial risk: reliance on successful third-party payor coverage and reimbursement, including Medicare, Medicaid, and PBMs, to support Rezdiffra sales
Management Discussion & Analysis
- No profitability or margin percentages disclosed
- Forward-looking focus on expanding Rezdiffra use via MAESTRO-NASH OUTCOMES trial and pipeline development of MGL-2086, ervogastat, siRNA programs
AI summary of the MDGL 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Product revenue $364.3M, up 71% YoY from $212.8M, driven by increased U.S. Rezdiffra demand
- Net loss $57.9M vs $42.3M; operating loss $56.3M vs $47.2M
- Cost of sales $40.0M, up 341%, including $10.4M work-in-process inventory write-down
- Near-term outlook: European launches dependent on reimbursement procedures and regulatory approvals; outcomes data expected in 2027 and 2028
Risk Factors
- Newly adopted CEO Rule 10b5-1 plan, triggered June 5, 2026
- Executive share-sale risk, plan covering maximum 6,706 shares through September 30, 2027
- Financing compliance risk, third amendment with Blue Owl Capital Corporation and LSI Financing LLC dated May 4, 2026
- Equity dilution risk, 2026 Stock Plan and Employee Stock Purchase Plan filed June 17, 2026
AI summary of the MDGL 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Board expanded from 8 to 9 directors with John C. Reed, M.D., Ph.D. joining as a Class II director through 2027
- Reed appointed to the Science and Technology Committee, adding senior scientific expertise to oversight
Item 7.01: Regulation FD Disclosure
- August 12, 2026 press release furnished under Exhibit 99.1
- Exhibit contains the substantive Regulation FD disclosure relevant to investors
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 financial results for quarter ended June 30, 2026
- Press release furnished as Exhibit 99.1 contains the substantive financial details
Item EX-99.1: Item EX-99.1
- Rezdiffra Q2 net sales $364.3M, up 71% YoY, signaling accelerating commercial adoption and strong demand
- More than 49,000 patients treated by June 30, more than double 2Q25; active patients surpassed 50,000 earlier in July
Item 5.07: Submission of Matters to a Vote of Security Holders
- Quorum established with 21,322,829 shares represented, versus 23,055,522 outstanding
- Three Class I directors re-elected through the 2029 annual meeting
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Stockholders approved the 2026 Stock Plan, expanding equity-based compensation capacity for employees and executives
- Stockholders approved the 2026 ESPP, enabling employee share purchases and potentially increasing equity-linked compensation expense
AI summaries of MDGL 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for MDGL
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Sibold William John | Sell | Sep 11, 2026 | 368 | $541.64 |
| Sibold William John | Sell | Sep 11, 2026 | 761 | $544.83 |
| Sibold William John | Sell | Sep 11, 2026 | 218 | $535.94 |
| Sibold William John | Sell | Sep 11, 2026 | 687 | $540.59 |
| Sibold William John | Sell | Sep 11, 2026 | 1,202 | $542.60 |
| Sibold William John | Sell | Sep 11, 2026 | 1,539 | $544.02 |
| Sibold William John | Sell | Sep 11, 2026 | 60 | $533.09 |
| Sibold William John | Sell | Sep 11, 2026 | 106 | $534.06 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $180.1M | $958.4M |
| Operating Income | - | -$497.9M | -$300.1M |
| Net Income | -$373.6M | -$465.9M | -$288.3M |
| Op. Margin | - | -276.4% | -31.3% |
| Net Margin | - | -258.6% | -30.1% |
| Balance Sheet | |||
| Total Assets | $640.5M | $1.0B | $1.3B |
| Equity | - | $754.4M | $602.7M |
| ROE | - | -61.8% | -47.8% |
| Per Share | |||
| EPS | $-19.99 | $-21.90 | $-12.85 |
| Cash Flow | |||
| Operating CF | - | -$455.6M | -$189.6M |
| CapEx | $1.5M | $1.5M | $467K |
Source: XBRL data in MADRIGAL PHARMACEUTICALS, INC. (MDGL)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate MDGL share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 37 | $3.94B |
| Q1 2026 | 38 | $4.35B |
| Q4 2025 | 33 | $5.12B |
| Q3 2025 | 31 | $4.13B |
| Q2 2025 | 30 | $2.72B |
| Q1 2025 | 28 | $2.27B |
| Q4 2024 | 21 | $1.94B |
| Q3 2024 | 18 | $731.8M |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 236 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
MDGL filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Aug 20, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 8-K | Aug 12, 2026 | - | Analysis | - |
| 10-Q | Jul 30, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 30, 2026 | - | Analysis | - |
| 4 | Jul 20, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 8-K | Jun 17, 2026 | - | Analysis | - |
| 4 | Jun 1, 2026 | - | - | |
| 4 | May 22, 2026 | - | - | |
| 8-K | May 6, 2026 | - | Analysis | |
| 10-Q | May 6, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Apr 28, 2026 | - | Analysis | - |
| 4 | Mar 6, 2026 | - | - | - |
| 4 | Mar 6, 2026 | - | - | - |
| 4 | Mar 6, 2026 | - | - | - |
| 4 | Mar 6, 2026 | - | - | - |
| 4 | Mar 6, 2026 | - | - | - |
| 4 | Mar 6, 2026 | - | - | - |
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MDGL SEC filings: frequently asked questions
Are MDGL insiders buying or selling?
In the last 90 days, MADRIGAL PHARMACEUTICALS, INC. (MDGL) officers, directors and 10% owners reported no open-market purchases and 35 open-market sales worth $7.9 million by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold MDGL stock?
As of June 30, 2026, the largest MADRIGAL PHARMACEUTICALS, INC. (MDGL) holders among the 13F filers tracked by SignalX were Paulson & Co ($719.5 million), BlackRock ($644.8 million), Vanguard Capital Management LLC ($448.7 million), Vanguard Portfolio Management LLC ($419.8 million), State Street Corp ($283.0 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was MDGL's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), MADRIGAL PHARMACEUTICALS, INC. (MDGL) reported revenue of $958.4 million (up 432.1% from FY2024) and a net loss of $288.3 million. Diluted EPS was -$12.85. The figures come from the XBRL data in the 10-K.
What are the main risks in MDGL's latest 10-K?
In the 10-K filed February 19, 2026, MADRIGAL PHARMACEUTICALS, INC. (MDGL) flagged: Regulatory risk: accelerated approval of Rezdiffra under FDA Subpart H pathway contingent on completing MAESTRO-NASH trials for full approval. Geopolitical/macro risk: U.S. Medicare drug price negotiation program starting 2026 may cap prices and impose rebates on high-spend drugs like Rezdiffra. (AI summary of the Risk Factors section.)
What did MDGL report in its latest 8-K?
MADRIGAL PHARMACEUTICALS, INC. (MDGL) filed an 8-K on August 12, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers) and Item 7.01 (Regulation FD Disclosure). Board expanded from 8 to 9 directors with John C. Reed, M.D., Ph.D. joining as a Class II director through 2027.
What are the latest MDGL SEC filings?
MADRIGAL PHARMACEUTICALS, INC. (MDGL) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on August 12, 2026 and a Form 4 insider filing on September 11, 2026.
What is MDGL's SEC CIK number?
MADRIGAL PHARMACEUTICALS, INC. (MDGL)'s SEC Central Index Key (CIK) is 1157601. EDGAR lists every MDGL filing under that number.
Ask anything about MDGL
The research agent reads MDGL's filings, financials, insider trades and 13F holders, then answers with sources.