MADRIGAL PHARMACEUTICALS, INC. (MDGL) FY2025 10-K Annual Report

Filed: Feb 19, 2026
Health Care
Pharmaceutical PreparationsSEC EDGAR

MADRIGAL PHARMACEUTICALS, INC. (MDGL) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

MADRIGAL PHARMACEUTICALS, INC. FY2025 10-K Analysis

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)
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Management Discussion & Analysis

  • No revenue or YoY change figures provided in the MD&A
  • No profitability or margin percentages disclosed
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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
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MADRIGAL PHARMACEUTICALS, INC. FY2025 Key Financial Metrics
XBRL

Revenue

$958M

+432.1% YoY

Net Income

-$288M

+38.1% YoY

Operating Margin

-31.3%

+24508bp YoY

Net Margin

-30.1%

+22856bp YoY

ROE

-47.8%

+1393bp YoY

Total Assets

$1.3B

+20.9% YoY

EPS (Diluted)

$-12.85

+41.3% YoY

Operating Cash Flow

-$190M

+58.4% YoY

Source: XBRL data from MADRIGAL PHARMACEUTICALS, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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