MDGL - Earnings Preview
What to expect from MDGL in Nov
Madrigal will report Q3 earnings sometime in November, and all eyes will be on resmetirom sales.
Q2 sales were $14.6M and surpassed low initial launch expectations. There were concerns about payor restrictions, Madrigal’s ability to reach the appropriate physicians and biopsy requirements. Some of those fears were allayed in Q2 and now the focus turns to sales ramp up.
Expectations are still modest, with the average analyst forecast at $33M.
Given that resmetirom had 2000 patients on drug, and has increased payor coverage recently, we think $50M is likely.
Our revenue calculation details are below:
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