Madrigal Pharmaceuticals Announces Proposed Public Offering of Common Stock

Madrigal Pharmaceuticals (Nasdaq:MDGL), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases, today announced that it has commenced an underwritten public offering of $200 million of its common stock.

As quoted in the press release:

In addition, existing stockholders of the company, including certain of its executive officers and directors and affiliates thereof, are offering up to 363,625 shares of Madrigal’s common stock in the offering.  Madrigal will not receive any proceeds from the sale of the shares by these selling stockholders.  Madrigal also intends to grant the underwriter a 30-day option to purchase up to an additional fifteen percent (15%) of the base shares of common stock offered in the public offering.

Goldman Sachs & Co. LLC, is the sole book runner of the proposed offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Click here to read the full press release.