Analysts Believe Madrigal's Resmetirom Shows Impressive Overall Profile In Liver Fibrosis

Madrigal Pharmaceuticals Inc MDGL presented multiple resmetirom abstracts at the European Association for the Study of the Liver's International Liver Congress.
The data included new details on changes in FibroScan controlled attenuation parameter and liver stiffness measurement along with magnetic resonance elastography, which serves as critical non-invasive measures of liver stiffness and fibrosis.
Consistent with the previous top-line data, the most frequently reported adverse events were diarrhea and nausea, with no increase in the incidence of GI-related adverse events noted after the first 12 weeks of resmetirom treatment.
Related: Madrigal Pharma's Kidney Disease Candidate Improves Liver, Cardiovascular Health.
SVB Leerink views the presentations as incrementally de-risking for the program.
In a separate presentation, Madrigal also highlighted new results from a cohort of 105 NASH patients with compensated cirrhosis treated with resmetirom in an open-label portion of MAESTRO NAFLD-1.
Resmetirom showed encouraging signals of efficacy.
SVB says that despite the limitations of this study, it views these results as encouraging regarding resmetirom's ability to impact a broad range of non-invasive measures positively.
Ultimately, it views the histology results expected in 4Q from the MAESTRO-NASH study as an essential value-inflecting data catalyst for Madrigal shares.
JMP says that the key catalyst for MDGL shares, and the NASH field, remains the biopsy data from the Phase 3 MAESTRO-NASH study, which is on track for 4Q22.
The analyst keeps the Market Outperform rating and the price target of $170.00.
Price Action: MDGL shares are down 9.24% at $74.74 during the market session on the last check Monday.

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