MADRIGAL PHARMACEUTICALS, INC.
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
MDGL$432.79+8.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenues: | |||
| Product revenue, net | $958,403 | $180,133 | $— |
| Operating expenses: | |||
| Cost of sales | 56,148 | 6,233 | — |
| Research and development | 388,525 | 236,718 | 272,350 |
| Selling, general and administrative | 813,827 | 435,057 | 108,146 |
| Total operating expenses | 1,258,500 | 678,008 | 380,496 |
| Loss from operations | (300,097) | (497,875) | (380,496) |
| Interest income | 37,364 | 46,654 | 19,578 |
| Interest expense | (22,309) | (14,671) | (12,712) |
| Loss on extinguishment of debt | (2,779) | — | — |
| Other expense, net | (463) | — | — |
| Net loss | $(288,284) | $(465,892) | $(373,630) |
| Net loss per common share: | |||
| Basic and diluted net loss per common share | $(12.85) | $(21.90) | $(19.99) |
| Basic and diluted weighted average number of common shares outstanding | 22,434,310 | 21,272,962 | 18,687,774 |
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