MDGL · XBRL financial data

Madrigal Pharmaceuticals financial statements, every fiscal year

The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (MDGL's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	0	0	0	0	180	—
Revenue from contracts with customers	—	—	0	0	180	958
Cost of goods and services sold	—	—	0	0	6	—
Selling, general and administrative	—	—	48	108	435	814
General and administrative	22	37	48	108	—	—
Total operating expenses	207	242	294	380	678	1,259
Operating income (loss)	(207)	(242)	(294)	(380)	(498)	(300)
Interest income	—	0	2	20	47	37
Interest expense	0	0	4	13	15	22
Other income (expense)	—	—	—	0	0	(0)
Income tax expense (benefit)	0	0	0	0	0	0
Net income (loss)	(202)	(242)	(295)	(374)	(466)	(288)
Earnings per share, basic USD per share	(13.09)	(14.63)	(17.23)	(19.99)	(21.90)	(12.85)
Earnings per share, diluted USD per share	(13.09)	(14.63)	(17.23)	(19.99)	(21.90)	(12.85)
Weighted average shares, basic millions of shares	15	17	17	19	21	22
Weighted average shares, diluted millions of shares	15	17	17	19	21	22

Fiscal years (MDGL's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	54	36	332	100	100	199
Marketable securities	230	234	27	534	826	785
Accounts receivable	—	—	—	0	54	134
Inventory	—	—	—	0	34	75
Prepaid and other current assets	1	1	3	3	14	48
Total current assets	285	272	361	637	1,033	1,246
Property and equipment, net	1	1	1	2	2	1
Right-of-use asset	1	1	1	2	2	5
Total assets	287	273	363	641	1,042	1,260
Accounts payable	1	21	24	28	44	49
Accrued liabilities	45	55	91	90	125	260
Total current liabilities	47	77	116	119	169	310
Long-term debt	—	0	49	115	118	340
Lease liability, non-current	0	0	0	1	1	7
Total liabilities	47	77	165	235	288	657
Accumulated deficit	(425)	(667)	(963)	(1,336)	(1,802)	(2,090)
Total stockholders' equity	240	196	197	405	754	603
Total liabilities and equity	287	273	363	641	1,042	1,260
Common shares outstanding (cover page) millions of shares	16	17	18	20	22	23

Fiscal years (MDGL's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(202)	(242)	(295)	(374)	(466)	(288)
Stock-based compensation	21	27	32	50	80	98
Depreciation and amortization	0	0	0	1	1	2
Net cash from operating activities	(158)	(184)	(225)	(324)	(456)	(190)
Purchases of property and equipment	0	0	0	1	1	0
Net cash from investing activities	160	(5)	207	(503)	(274)	32
Net cash from financing activities	5	171	313	595	735	256
Net change in cash	—	(18)	295	(232)	5	99

SIC 2834 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 2834 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Madrigal Pharmaceuticals	515	431	121*	23.2M	—	Q3 FY26 10-QSep 30, 2026
Ionis Pharmaceuticals	350	268	566*	166.2M	—	Q2 FY26 10-QJun 30, 2026
Repligen	727	209	43*	63.9M	—	Q3 FY26 10-QSep 30, 2026
Corcept Therapeutics	99	340	143*	109.4M	—	Q3 FY26 10-QSep 30, 2026
Jazz Pharmaceuticals	2,036	1,243	506*	64.2M	—	Q3 FY26 10-QSep 30, 2026
Biomarin Pharmaceutical	736	1,025	188*	193.7M	—	Q3 FY26 10-QSep 30, 2026
Revolution Medicines	815	not reported	(387)*	214.3M	10.2 quarters	Q2 FY26 10-QJun 30, 2026
Alkermes	631	480	93*	168.0M	—	Q3 FY26 10-QSep 30, 2026
Halozyme Therapeutics	163	481	241*	113.5M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.