Conshohocken-based Madrigal Pharmaceuticals plans to raise $500 million while anticipating FDA approval of a groundbreaking therapy, writes John George for the Philadelphia Business Journal.  

The pharmaceutical company plans to sell 1.25 million shares at $151.69 per share. The offering will close on October 3, and net proceeds will go towards any activities surrounding the launch of its treatment of severe liver disease.  

Resmetirom treats NASH or nonalcoholic steatohepatitis, which is a disease that causes the inflammation of the liver and eventual scarring, which can lead to its failure. 

Nearly five percent of Americans have this condition, and it often does not manifest symptoms until it has already progressed.  

Currently, there is no FDA-approved treatment for this disease, but a decision on whether or not resmetirom will get the green light will be made in April.  

Madrigal will use the net funds raised for research and development, clinical trials, manufacturing and supply, licensing, and capital expenditures.  

Read more about the Conshohocken-based pharmaceutical company’s efforts to raise money for the launch of this new treatment in the Philadelphia Business Journal.  

Understanding NASH: Disease Progression and Impact.