Conshohocken-based Madrigal Pharmaceuticals is in a flurry of activity as it prepares for the potential launch of its NASH drug candidate, writes John George for Philadelphia Business Journal.

NASH is an inflammatory liver disease, and right now there is no U.S. Food and Drug Administration-approved treatment for it.

Madrigal’s new drug candidate resmetirom, if approved, could help the 5% of Americans that the American Liver Foundation estimates suffer from the disease.

To help fund the clinical and commercial activities needed to prepare for the potential launch of resmetirom, the pharmaceutical company just sold almost 1.2 million shares of its common stock at $151.69 per share. The company has also sold to select investors pre-funded warrants to purchase 2.05 million shares.

Madrigal said the money raised may also be used for new acquisitions or for new technologies.

A report from the research firm ReportLinker in 2022 estimated the market for a NASH treatment in the U.S. to be $1.6 billion, and globally $4.8 billion.

Read more about Madrigal Pharmaceutical’s stock sales as it waits for potential FDA approval of its NASH drug in the Philadelphia Business Journal.

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