$MDGL
Madrigal Pharmaceuticals Inc

2023 Q4 Form 10-Q Financial Statement

#000119312523270803 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $46.54M $27.60M
YoY Change 219.68% 127.33%
% of Gross Profit
Research & Development $70.64M $70.95M
YoY Change -0.14% 3.93%
% of Gross Profit
Depreciation & Amortization $142.0K $140.0K
YoY Change 10.08% 15.7%
% of Gross Profit
Operating Expenses $117.2M $98.53M
YoY Change 37.37% 22.54%
Operating Profit -$117.2M -$98.53M
YoY Change 37.37% 22.54%
Interest Expense $3.971M $3.504M
YoY Change 136.09% 133.29%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$112.2M -$98.70M
YoY Change 30.6% 21.56%
Income Tax
% Of Pretax Income
Net Earnings -$112.2M -$98.74M
YoY Change 30.6% 21.61%
Net Earnings / Revenue
Basic Earnings Per Share -$5.68 -$5.34
Diluted Earnings Per Share -$5.68 -$5.34
COMMON SHARES
Basic Shares Outstanding 19.74M 18.47M
Diluted Shares Outstanding 19.76M shares 18.48M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $634.1M $232.4M
YoY Change 76.75% 51.67%
Cash & Equivalents $99.92M $62.06M
Short-Term Investments $534.2M $170.3M
Other Short-Term Assets $3.150M $3.100M
YoY Change 21.39% -20.92%
Inventory $0.00
Prepaid Expenses
Receivables $0.00
Other Receivables
Total Short-Term Assets $637.3M $235.5M
YoY Change 76.35% 49.87%
LONG-TERM ASSETS
Property, Plant & Equipment $1.553M $659.0K
YoY Change 158.4% -5.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.266M $2.495M
YoY Change 171.49% 62.86%
TOTAL ASSETS
Total Short-Term Assets $637.3M $235.5M
Total Long-Term Assets $3.266M $2.495M
Total Assets $640.5M $238.0M
YoY Change 76.67% 50.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.04M $16.54M
YoY Change 17.67% -10.88%
Accrued Expenses $89.98M $82.61M
YoY Change -1.62% 3.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $118.5M $99.67M
YoY Change 2.29% 0.75%
LONG-TERM LIABILITIES
Long-Term Debt $115.5M $114.7M
YoY Change 134.29% 134.22%
Other Long-Term Liabilities $1.186M $1.300M
YoY Change 1730.99%
Total Long-Term Liabilities $116.7M $116.1M
YoY Change 136.7% 136.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $118.5M $99.67M
Total Long-Term Liabilities $116.7M $116.1M
Total Liabilities $235.2M $215.7M
YoY Change 42.4% 45.78%
SHAREHOLDERS EQUITY
Retained Earnings -$1.336B -$1.224B
YoY Change 38.81% 39.61%
Common Stock $1.741B $1.246B
YoY Change 50.09% 40.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $405.3M $22.25M
YoY Change
Total Liabilities & Shareholders Equity $640.5M $238.0M
YoY Change 76.67% 50.0%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$112.2M -$98.74M
YoY Change 30.6% 21.61%
Depreciation, Depletion And Amortization $142.0K $140.0K
YoY Change 10.08% 15.7%
Cash From Operating Activities -$79.93M -$84.92M
YoY Change 36.6% 43.76%
INVESTING ACTIVITIES
Capital Expenditures $1.036M $340.0K
YoY Change 3472.41% -1130.3%
Acquisitions
YoY Change
Other Investing Activities -$361.1M $50.54M
YoY Change -643.67% -22.45%
Cash From Investing Activities -$362.1M $50.20M
YoY Change -645.47% -22.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 479.9M 19.58M
YoY Change 81.55%
NET CHANGE
Cash From Operating Activities -79.93M -84.92M
Cash From Investing Activities -362.1M 50.20M
Cash From Financing Activities 479.9M 19.58M
Net Change In Cash 37.86M -15.14M
YoY Change -86.09% -349.51%
FREE CASH FLOW
Cash From Operating Activities -$79.93M -$84.92M
Capital Expenditures $1.036M $340.0K
Free Cash Flow -$80.97M -$85.26M
YoY Change 38.3% 44.42%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001157601
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-33277
dei Entity Registrant Name
EntityRegistrantName
MADRIGAL PHARMACEUTICALS, INC.
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
04-3508648
dei Entity Address Address Line1
EntityAddressAddressLine1
Four Tower Bridge
dei Entity Address Address Line2
EntityAddressAddressLine2
200 Barr Harbor Drive, Suite 200
dei Entity Address City Or Town
EntityAddressCityOrTown
West Conshohocken
dei Entity Address State Or Province
EntityAddressStateOrProvince
PA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
19428
dei City Area Code
CityAreaCode
267
dei Local Phone Number
LocalPhoneNumber
824-2827
dei Security12b Title
Security12bTitle
Common Stock, $0.0001 Par Value Per Share
dei Trading Symbol
TradingSymbol
MDGL
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
19742646
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62055000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
331549000
CY2023Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
170296000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
27225000
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3118000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2595000
CY2023Q3 us-gaap Assets Current
AssetsCurrent
235469000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
361369000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
659000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
601000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1836000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
602000
CY2023Q3 us-gaap Assets
Assets
237964000
CY2022Q4 us-gaap Assets
Assets
362572000
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
16542000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
23831000
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
82610000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
91461000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
513000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
602000
CY2023Q3 us-gaap Liabilities Current
LiabilitiesCurrent
99665000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
115894000
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
114727000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
49289000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1323000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2023Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
116050000
CY2022Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
49289000
CY2023Q3 us-gaap Liabilities
Liabilities
215715000
CY2022Q4 us-gaap Liabilities
Liabilities
165183000
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2369797
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2369797
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2369797
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2369797
CY2023Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18494192
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18494192
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18102523
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18102523
CY2023Q3 us-gaap Common Stock Value
CommonStockValue
2000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
2000
CY2023Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1246385000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1160079000
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-42000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-32000
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1224096000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-962660000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
22249000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
197389000
CY2023Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
237964000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
362572000
CY2023Q3 us-gaap Revenues
Revenues
CY2022Q3 us-gaap Revenues
Revenues
us-gaap Revenues
Revenues
us-gaap Revenues
Revenues
CY2023Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
70951000
CY2022Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
68271000
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
201710000
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
174699000
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27583000
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12141000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
61610000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
33573000
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
98534000
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
80412000
us-gaap Operating Expenses
OperatingExpenses
263320000
us-gaap Operating Expenses
OperatingExpenses
208272000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-98534000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-80412000
us-gaap Operating Income Loss
OperatingIncomeLoss
-263320000
us-gaap Operating Income Loss
OperatingIncomeLoss
-208272000
CY2023Q3 us-gaap Interest Income Other
InterestIncomeOther
3298000
CY2022Q3 us-gaap Interest Income Other
InterestIncomeOther
717000
us-gaap Interest Income Other
InterestIncomeOther
10625000
us-gaap Interest Income Other
InterestIncomeOther
1109000
CY2023Q3 us-gaap Interest Expense
InterestExpense
3504000
CY2022Q3 us-gaap Interest Expense
InterestExpense
1502000
us-gaap Interest Expense
InterestExpense
8741000
us-gaap Interest Expense
InterestExpense
2282000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-98740000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-81197000
us-gaap Net Income Loss
NetIncomeLoss
-261436000
us-gaap Net Income Loss
NetIncomeLoss
-209445000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.34
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.34
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.75
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.75
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-14.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-14.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-12.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-12.25
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18476414
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18476414
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17103395
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17103395
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18326154
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18326154
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17103395
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17103395
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-98740000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-81197000
us-gaap Net Income Loss
NetIncomeLoss
-261436000
us-gaap Net Income Loss
NetIncomeLoss
-209445000
CY2023Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
47000
CY2022Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
210000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-10000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-157000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-98693000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-80987000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-261446000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-209602000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
197389000
CY2023Q1 mdgl Stock Issued During Period Value Related Parties And Exercise Of Common Stock Options
StockIssuedDuringPeriodValueRelatedPartiesAndExerciseOfCommonStockOptions
17903000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
11250000
CY2023Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-54000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
544000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-76896000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
150136000
CY2023Q2 mdgl Stock Issued During Period Value New Issues Excluding Sales To Related Parties
StockIssuedDuringPeriodValueNewIssuesExcludingSalesToRelatedParties
21754000
CY2023Q2 mdgl Stock Issued During Period Value Related Parties And Exercise Of Common Stock Options
StockIssuedDuringPeriodValueRelatedPartiesAndExerciseOfCommonStockOptions
6251000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
271180000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
10973000
CY2023Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-3000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
195000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-85800000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
103506000
CY2023Q3 mdgl Stock Issued During Period Value New Issues Excluding Sales To Related Parties
StockIssuedDuringPeriodValueNewIssuesExcludingSalesToRelatedParties
2731000
CY2023Q3 mdgl Stock Issued During Period Value Related Parties And Exercise Of Common Stock Options
StockIssuedDuringPeriodValueRelatedPartiesAndExerciseOfCommonStockOptions
1924000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
12660000
CY2023Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
47000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
121000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-98740000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
22249000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
196107000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
7477000
CY2022Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-322000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-57518000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
145744000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
7944000
CY2022Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-45000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
622000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-70730000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
83535000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
8122000
CY2022Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
210000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-81197000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
10670000
us-gaap Profit Loss
ProfitLoss
-261436000
us-gaap Profit Loss
ProfitLoss
-209445000
us-gaap Share Based Compensation
ShareBasedCompensation
34883000
us-gaap Share Based Compensation
ShareBasedCompensation
23543000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
385000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
338000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1661000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
491000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
523000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2582000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-7289000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-2818000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-8851000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
24550000
mdgl Increase Decrease In Accrued Interest Net Of Interest Received
IncreaseDecreaseInAccruedInterestNetOfInterestReceived
-3127000
mdgl Increase Decrease In Accrued Interest Net Of Interest Received
IncreaseDecreaseInAccruedInterestNetOfInterestReceived
-419000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-244297000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-166342000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
359549000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
130693000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
219595000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
443000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
188000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-140397000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
140299000
mdgl Proceeds From Issuance Or Sale Of Equity Net
ProceedsFromIssuanceOrSaleOfEquityNet
24484000
mdgl Proceeds From Issuance Or Sale Of Equity Net
ProceedsFromIssuanceOrSaleOfEquityNet
0
mdgl Proceeds From The Sale Of Related Party Stock And Exercise Of Common Stock Options Net Of Transaction Costs
ProceedsFromTheSaleOfRelatedPartyStockAndExerciseOfCommonStockOptionsNetOfTransactionCosts
26079000
mdgl Proceeds From The Sale Of Related Party Stock And Exercise Of Common Stock Options Net Of Transaction Costs
ProceedsFromTheSaleOfRelatedPartyStockAndExerciseOfCommonStockOptionsNetOfTransactionCosts
0
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
65000000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
50000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
363000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
886000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
115200000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
49114000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-269494000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
23071000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
331549000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36269000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62055000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59340000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1628000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
583000
us-gaap Use Of Estimates
UseOfEstimates
<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; 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>
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
79604000
mdgl Deferred Tax Assets Percentage Of Valuation Allowance
DeferredTaxAssetsPercentageOfValuationAllowance
1
us-gaap Net Income Loss
NetIncomeLoss
-261400000
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1224100000
CY2023Q3 mdgl Cash And Cash Equivalents And Available For Sale Securities Gross Unrealized Gains
CashAndCashEquivalentsAndAvailableForSaleSecuritiesGrossUnrealizedGains
9000
CY2023Q3 mdgl Cash And Cash Equivalents And Available For Sale Securities Gross Unrealized Losses
CashAndCashEquivalentsAndAvailableForSaleSecuritiesGrossUnrealizedLosses
51000
CY2022Q4 mdgl Cash And Cash Equivalents And Available For Sale Securities Gross Unrealized Gains
CashAndCashEquivalentsAndAvailableForSaleSecuritiesGrossUnrealizedGains
7000
CY2022Q4 mdgl Cash And Cash Equivalents And Available For Sale Securities Gross Unrealized Losses
CashAndCashEquivalentsAndAvailableForSaleSecuritiesGrossUnrealizedLosses
39000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
53388000
CY2023Q3 mdgl Accrued Contract Research Costs Current
AccruedContractResearchCostsCurrent
54479000
CY2022Q4 mdgl Accrued Contract Research Costs Current
AccruedContractResearchCostsCurrent
53119000
CY2023Q3 mdgl Accrued Other Clinical Study Related Costs Current
AccruedOtherClinicalStudyRelatedCostsCurrent
3433000
CY2022Q4 mdgl Accrued Other Clinical Study Related Costs Current
AccruedOtherClinicalStudyRelatedCostsCurrent
6582000
CY2023Q3 mdgl Accrued Manufacturing And Drug Supply Current
AccruedManufacturingAndDrugSupplyCurrent
5030000
CY2022Q4 mdgl Accrued Manufacturing And Drug Supply Current
AccruedManufacturingAndDrugSupplyCurrent
11262000
CY2023Q3 mdgl Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
9963000
CY2022Q4 mdgl Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
14864000
CY2023Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8478000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4867000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1227000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
767000
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
82610000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
91461000
CY2022Q2 mdgl Percenatge Of Term Charges On Aggregate Principal Amount
PercenatgeOfTermChargesOnAggregatePrincipalAmount
0.0535
CY2022Q2 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
14899
CY2022Q2 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
600000
CY2023Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
115000000
CY2023Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.1095
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3096000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
12802000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
148890000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
27737000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6426000
CY2023Q3 us-gaap Loans Payable Current
LoansPayableCurrent
114727000
mdgl Common Stock Voting Rights Number
CommonStockVotingRightsNumber
1
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12660000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8122000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34883000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23543000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12660000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8122000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34883000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23543000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
0
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
0
CY2023Q3 mdgl Lease Expiration
LeaseExpiration
November 2026
CY2023Q3 mdgl Increase Decrease In Right Of Use Asset And Lease Liabilities
IncreaseDecreaseInRightOfUseAssetAndLeaseLiabilities
1600000

Files In Submission

Name View Source Status
0001193125-23-270803-index-headers.html Edgar Link pending
0001193125-23-270803-index.html Edgar Link pending
0001193125-23-270803.txt Edgar Link pending
0001193125-23-270803-xbrl.zip Edgar Link pending
d907859d10q.htm Edgar Link pending
d907859dex311.htm Edgar Link pending
d907859dex312.htm Edgar Link pending
d907859dex321.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
mdgl-20230930.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
mdgl-20230930_def.xml Edgar Link unprocessable
mdgl-20230930_lab.xml Edgar Link unprocessable
mdgl-20230930_pre.xml Edgar Link unprocessable
d907859d10q_htm.xml Edgar Link completed
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
mdgl-20230930_cal.xml Edgar Link unprocessable