$MDGL
MADRIGAL PHARMACEUTICALS, INC.

2023 Q1 Form 10-K Financial Statement

#000119312523045575 Filed on February 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.18M $14.56M $9.658M
YoY Change 67.55% 24.29% 34.14%
% of Gross Profit
Research & Development $62.15M $70.74M $47.93M
YoY Change 29.68% 33.76% 4.65%
% of Gross Profit
Depreciation & Amortization $124.0K $129.0K $107.0K
YoY Change 15.89% 21.7% -2.73%
% of Gross Profit
Operating Expenses $78.34M $85.30M $57.59M
YoY Change 36.03% 32.04% 8.65%
Operating Profit -$78.34M -$85.30M -$57.59M
YoY Change 36.03% 32.04% 8.7%
Interest Expense $2.336M $1.682M $69.00K
YoY Change 3285.51% 3134.62% -65.5%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$76.90M -$85.91M -$57.52M
YoY Change 33.69% 33.08% 9.56%
Income Tax
% Of Pretax Income
Net Earnings -$76.90M -$85.91M -$57.52M
YoY Change 33.7% 33.08% 9.46%
Net Earnings / Revenue
Basic Earnings Per Share -$4.23 -$4.98 -$3.36
Diluted Earnings Per Share -$4.23 -$4.98 -$3.363M
COMMON SHARES
Basic Shares Outstanding 18.14M 17.10M 17.10M
Diluted Shares Outstanding 18.19M 17.24M 17.10M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $329.5M $358.8M $220.0M
YoY Change 49.79% 32.71% -28.4%
Cash & Equivalents $113.3M $331.5M $40.04M
Short-Term Investments $216.2M $27.23M $177.7M
Other Short-Term Assets $1.807M $2.595M $1.217M
YoY Change 48.48% 93.95% 52.13%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $331.3M $361.4M $221.2M
YoY Change 49.79% 33.01% -28.19%
LONG-TERM ASSETS
Property, Plant & Equipment $512.0K $601.0K $1.492M
YoY Change -65.68% -29.38% -12.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.165M $1.203M $1.492M
YoY Change -21.92% -27.0% -12.24%
TOTAL ASSETS
Total Short-Term Assets $331.3M $361.4M $221.2M
Total Long-Term Assets $1.165M $1.203M $1.492M
Total Assets $332.4M $362.6M $222.7M
YoY Change 49.31% 32.65% -28.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.13M $23.83M $22.78M
YoY Change -46.76% 11.46% 417.73%
Accrued Expenses $85.57M $91.46M $53.86M
YoY Change 58.88% 66.15% 21.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $98.35M $115.9M $76.64M
YoY Change 28.33% 50.83% 57.04%
LONG-TERM LIABILITIES
Long-Term Debt $83.97M $49.29M $0.00
YoY Change
Other Long-Term Liabilities $0.00 $283.0K
YoY Change -100.0% -29.25%
Total Long-Term Liabilities $83.97M $49.29M $283.0K
YoY Change 29569.61% 12636.18% -29.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.35M $115.9M $76.64M
Total Long-Term Liabilities $83.97M $49.29M $283.0K
Total Liabilities $182.3M $165.2M $76.92M
YoY Change 137.02% 113.9% 56.34%
SHAREHOLDERS EQUITY
Retained Earnings -$1.040B -$962.7M
YoY Change 44.27%
Common Stock $1.190B $1.160B
YoY Change 34.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $150.1M $197.4M $145.7M
YoY Change
Total Liabilities & Shareholders Equity $332.4M $362.6M $222.7M
YoY Change 49.31% 32.65% -28.1%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q1
OPERATING ACTIVITIES
Net Income -$76.90M -$85.91M -$57.52M
YoY Change 33.7% 33.08% 9.46%
Depreciation, Depletion And Amortization $124.0K $129.0K $107.0K
YoY Change 15.89% 21.7% -2.73%
Cash From Operating Activities -$84.07M -$58.51M -$49.91M
YoY Change 68.43% 21.78% 14.93%
INVESTING ACTIVITIES
Capital Expenditures $35.00K $29.00K -$52.00K
YoY Change -167.31% -125.66% 30.0%
Acquisitions
YoY Change
Other Investing Activities -$186.8M $66.42M $55.98M
YoY Change -433.75% 321.53% -267.5%
Cash From Investing Activities -$186.9M $66.39M $55.93M
YoY Change -434.13% 324.39% -267.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 52.69M 264.3M 0.000
YoY Change 1255.37% -100.0%
NET CHANGE
Cash From Operating Activities -84.07M -58.51M -49.91M
Cash From Investing Activities -186.9M 66.39M 55.93M
Cash From Financing Activities 52.69M 264.3M 0.000
Net Change In Cash -218.2M 272.2M 6.013M
YoY Change -3729.49% -2209.33% -161.36%
FREE CASH FLOW
Cash From Operating Activities -$84.07M -$58.51M -$49.91M
Capital Expenditures $35.00K $29.00K -$52.00K
Free Cash Flow -$84.10M -$58.54M -$49.86M
YoY Change 68.67% 22.12% 14.91%

Facts In Submission

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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 mdgl Proceeds From Issuance Or Sale Of Equity Net
ProceedsFromIssuanceOrSaleOfEquityNet
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CY2020 mdgl Proceeds From Issuance Or Sale Of Equity Net
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CY2021 mdgl Proceeds From The Sale Of Related Party Stock And Exercise Of Common Stock Options Net Of Transaction Costs
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CY2020 mdgl Proceeds From The Sale Of Related Party Stock And Exercise Of Common Stock Options Net Of Transaction Costs
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Use Of Estimates
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<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Use of Estimates </div></div> <div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. </div>
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CY2021 mdgl Patent Costs
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GeneralAndAdministrativeExpense
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CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
52979000
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
61742000
CY2021Q3 us-gaap Operating Expenses
OperatingExpenses
63160000
CY2021Q4 us-gaap Operating Expenses
OperatingExpenses
64601000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-52979000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-61742000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-63160000
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-64601000
CY2021Q1 us-gaap Interest Income Operating
InterestIncomeOperating
160000
CY2021Q2 us-gaap Interest Income Operating
InterestIncomeOperating
91000
CY2021Q3 us-gaap Interest Income Operating
InterestIncomeOperating
60000
CY2021Q4 us-gaap Interest Income Operating
InterestIncomeOperating
52000
CY2021Q1 us-gaap Interest Expense
InterestExpense
0
CY2021Q2 us-gaap Interest Expense
InterestExpense
0
CY2021Q3 us-gaap Interest Expense
InterestExpense
0
CY2021Q4 us-gaap Interest Expense
InterestExpense
0
CY2021Q1 us-gaap Other Income
OtherIncome
273000
CY2021Q2 us-gaap Other Income
OtherIncome
0
CY2021Q3 us-gaap Other Income
OtherIncome
0
CY2021Q4 us-gaap Other Income
OtherIncome
0
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-52546000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-61651000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-63100000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-64549000
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.32
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.32
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.72
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.72
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.79
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.79
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.78
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.78
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15840401
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15840401
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16571322
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16571322
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16639776
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16639776
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17074543
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17074543

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0001193125-23-045575-index.html Edgar Link pending
0001193125-23-045575.txt Edgar Link pending
0001193125-23-045575-xbrl.zip Edgar Link pending
d437449d10k.htm Edgar Link pending
d437449dex1012.htm Edgar Link pending
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d437449dex231.htm Edgar Link pending
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g437449g10a25.jpg Edgar Link pending
g437449g52w16.jpg Edgar Link pending
mdgl-20221231.xsd Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
mdgl-20221231_cal.xml Edgar Link unprocessable
d437449d10k_htm.xml Edgar Link completed
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mdgl-20221231_lab.xml Edgar Link unprocessable
mdgl-20221231_pre.xml Edgar Link unprocessable
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