0001628280-26-009514
SEC filingMadrigal Pharmaceuticals, Inc. reported FY 2025 financial results with $958.4 million in product revenue, net. The company incurred a net loss of $288.3 million, with a loss from operations of $300.1 million. Total operating expenses were $1.26 billion, consisting of $388.5 million in research and development and $813.8 million in selling, general and administrative expenses. Cost of sales was $56.1 million. The company ended the year with $1.26 billion in total assets, including $198.7 million in cash and cash equivalents, $784.9 million in marketable securities, and $134.5 million in trade receivables, net. Total liabilities were $656.9 million, with stockholders' equity of $602.7 million. Cash flow from operations was negative $189.6 million, while financing activities provided $256.0 million in net cash, primarily from debt issuance. The company reported basic and diluted net loss per common share of $13.00.
Madrigal Pharmaceuticals, Inc. reported FY 2025 financial results showing significant revenue generation but continued losses. The company generated $958.4 million in product revenue, net. However, operating expenses totaled $1.26 billion, resulting in a loss from operations of $300.1 million. After accounting for interest income of $37.4 million, interest expense of $22.3 million, loss on extinguishment of debt of $2.8 million, and other expense of $463 thousand, the company reported a net loss of $288.3 million. Basic and diluted net loss per common share was $13.00, based on 22.4 million weighted average shares outstanding.
The company reported $958.4 million in product revenue, net for FY 2025. No segment breakdown, geographic mix, or specific growth drivers were provided in the available data. The revenue figure represents the total product revenue for the fiscal year without further categorization or comparative data from prior periods.
With $958.4 million in product revenue and $56.1 million in cost of sales, the company's gross profit would be $902.3 million. Operating expenses totaled $1.26 billion, consisting of $388.5 million in research and development and $813.8 million in selling, general and administrative expenses. This resulted in a loss from operations of $300.1 million. The net loss of $288.3 million reflects the company's current stage of investment in operations despite significant revenue generation.
Cash flow from operating activities was negative $189.6 million, primarily driven by the net loss of $288.3 million, partially offset by non-cash adjustments including $98.1 million in stock-based compensation. Investing activities provided $32.3 million in net cash, with $1.08 billion from sales and maturities of marketable securities offsetting $1.05 billion in purchases. Financing activities provided $256.0 million in net cash, including $350.0 million from debt issuance and $38.1 million from equity issuance. The balance sheet shows total assets of $1.26 billion, including $198.7 million in cash and cash equivalents, $784.9 million in marketable securities, and $134.5 million in trade receivables. Total liabilities were $656.9 million, with stockholders' equity of $602.7 million.
No specific management guidance, strategic priorities, or risk factors were provided in the available financial data. The filing contains only the financial statements without accompanying management discussion and analysis or forward-looking statements in the provided content.