Madrigal Pharmaceuticals stock faces scrutiny over data allegations
Published on 11/10/2026 at 22:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSLegal scrutiny meets commercial progress
- A law firm announced an investigation tied to allegations in a former executive's whistleblower complaint.
- Madrigal reported strong third-quarter Rezdiffra sales and its first quarterly profit on November 3.
- The company is preparing another Phase 3 study focused on compensated MASH cirrhosis.
Madrigal Pharmaceuticals faces renewed investor scrutiny after Hagens Berman announced an investigation on Tuesday, November 10, 2026, into allegations concerning the clinical safety data and regulatory compliance of Rezdiffra. The announcement followed disclosures in Madrigal's quarterly filing about a whistleblower complaint filed by former clinical development chief Michael Charlton.
The law firm said the complaint alleges that adverse liver-injury data were suppressed, efficacy results could not be reconciled with source data and an unblinded board member controlled the adjudication of clinical outcomes. These are allegations under investigation, not findings of wrongdoing. The announcement also linked the inquiry to a decline in Madrigal's shares on November 3.
Madrigal Pharmaceuticals stock traded at 387.40 euros on Lang & Schwarz at 10:54 p.m. CET on Tuesday, November 10. The quote reflects the European trading venue and is presented without a comparison to a verified Xetra close.
Profitability raises the stakes
In its third-quarter results released on November 3, Madrigal reported Rezdiffra net sales of 431.3 million US dollars, up 50 percent from the year-earlier period. Net income was 55.4 million US dollars, compared with a loss of 114.2 million US dollars a year earlier.
The company also said year-to-date Rezdiffra sales reached 1.1 billion US dollars and that more than 55,850 patients were receiving the treatment as of September 30. Cash, restricted cash and marketable securities totaled 961.8 million US dollars at the end of the quarter.
For investors, the competing forces are clear: stronger commercial execution and a first profitable quarter on one side, and legal, clinical-data and single-product risks on the other. Madrigal plans to initiate the MAESTRO-CSPH Phase 3 outcomes study in the first half of 2027, subject to regulatory discussions, while data from its ongoing MAESTRO-NASH OUTCOMES trial are expected in late 2027.
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Further company-specific developments are available in More news and analyses on Madrigal Pharmaceuticals stock.
Madrigal Pharmaceuticals at a glance
- Company: Madrigal Pharmaceuticals, Inc.
- ISIN: US5588681057
- U.S. ticker: MDGL
- Current quote: 387.40 euros on Lang & Schwarz, November 10, 2026, 10:54 p.m. CET
- Third-quarter Rezdiffra sales: 431.3 million US dollars
- Third-quarter net income: 55.4 million US dollars
