Big gain for Madrigal on 36-week NASH readout

Madrigal Pharmaceuticals Inc. (NASDAQ:MDGL) gained $157.18 (145%) to $265.61 on Thursday after it said MGL-3196 led to significant improvements vs. placebo in disease activity and disease resolution at week 36 in a Phase II trial to treat liver biopsy-confirmed non-alcoholic steatohepatitis. The company said it is planning a Phase III trial of the selective agonist of thyroid hormone receptor beta in the indication.

Madrigal gained 88% to $87.18 in December after reporting that MGL-3196 met the 125-patient trial's primary endpoint, which measured reduction in liver fat from baseline to week 12 vs. placebo (median reduction of 36.3% vs. 9.6%, p<0.0001) based on an imaging endpoint (see BioCentury Extra, Dec. 6, 2017)...