Tiny Madrigal’s stock is soaring as it advances an experimental drug targeting NASH
Madrigal Pharmaceuticals can’t stay hidden in West Conshohocken much longer.
The 7-year-old company has experienced a rapid rise in its stock price and market capitalization, which at the start of the week was at $4.4 billion. That’s billion, with a “b,” for a company with just 10 employees, writes John George in the Philadelphia Business Journal.
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Madrigal is going up against the big boys and helping the small firm has been the advancement and success in clinical trials for treatments for NASH — nonalcoholic steatohepatitis. NASH is a liver disease that affects 20 million people in the country.
“We were flying under the radar before,” said Paul Friedman, Madrigal’s CEO. “Now we are a known entity even though we are small because NASH is such a big area right now.”
Dr. Dina Halegoua-De Marzio, director of Thomas Jefferson University Hospital’s Fatty Liver Center, said about 20 potential treatments for NASH are in various stages of development.
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