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Madrigal Pharmaceuticals is a clinical-level biotechnology company. The main area of work is the research and marketing of innovative therapeutic spectrum drugs. The company is quite young – it was founded in 2011. The key area of interest is the drug Resmetirom, which can be used to treat a number of liver diseases, including non-alcoholic steatohepatitis and liver fibrosis.
The day before, it became known that the main phase of Maestro-NASH research showed positive results and reached both endpoints of improvement. The FDA assumes that this data is likely enough to predict clinical benefit.
The company has recently started clinical trials of the drug, and it is getting closer to the goal.
Madrigal Pharmaceuticals has already signed an agreement with pharmaceutical giant Roche. It assumes that Madrigal fully controls both the development and commercialization of the drug and has exclusive worldwide rights to it and its potential designations. Roche licenses certain patent rights.
Competitors of Madrigal Pharmaceuticals – Gilead Sciences, Pfizer, Galmed Medical, Novartis, Boehringer and others have not yet come so close to successfully testing the drug.
Yes, Madrigal Pharmaceuticals has one bet – on Resmetirom, but it is absolutely justified and successful. Taking into account the results of studies and clinical trials that have already been completed, it can be assumed that there will be no problems with obtaining FDA approval. After all, we are talking about the first-ever drug for the treatment of liver fibrosis.
Shares of Madrigal Pharmaceuticals soared 270% the day before. This is a typical biotech story. But if there is no negative news around the flagship drug, you can count on the fact that the papers will not be lower.
The main technical indicators, MACD and Stochastic, signal a purchase on the daily trading chart. The benchmark for 12 months is $300.