2024 Q1 Form 10-K Financial Statement

#000162828024007376 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $80.80M $46.54M $108.1M
YoY Change 399.32% 219.68% 124.7%
% of Gross Profit
Research & Development $71.24M $70.64M $272.4M
YoY Change 14.61% -0.14% 10.96%
% of Gross Profit
Depreciation & Amortization $168.0K $142.0K $527.0K
YoY Change 35.48% 10.08% 12.85%
% of Gross Profit
Operating Expenses $152.0M $117.2M $380.5M
YoY Change 94.08% 37.37% 29.61%
Operating Profit -$152.0M -$117.2M -$380.5M
YoY Change 94.08% 37.37% 29.61%
Interest Expense $3.838M $3.971M $12.71M
YoY Change 64.3% 136.09% 220.69%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$147.5M -$112.2M -$373.6M
YoY Change 91.87% 30.6% 26.5%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$147.5M -$112.2M -$373.6M
YoY Change 91.81% 30.6% 26.47%
Net Earnings / Revenue
Basic Earnings Per Share -$7.38 -$5.68 -$19.99
Diluted Earnings Per Share -$7.38 -$5.68 -$19.99
COMMON SHARES
Basic Shares Outstanding 19.90M shares 19.74M 18.69M shares
Diluted Shares Outstanding 20.00M shares 19.76M shares 18.69M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.059B $634.1M $634.1M
YoY Change 221.44% 76.75% 76.75%
Cash & Equivalents $622.5M $99.92M $97.19M
Short-Term Investments $436.5M $534.2M $534.2M
Other Short-Term Assets $14.04M $3.150M $3.150M
YoY Change 676.7% 21.39% 21.39%
Inventory $854.0K $0.00
Prepaid Expenses
Receivables $0.00
Other Receivables
Total Short-Term Assets $1.074B $637.3M $637.3M
YoY Change 224.18% 76.35% 76.35%
LONG-TERM ASSETS
Property, Plant & Equipment $1.742M $1.553M $3.266M
YoY Change 240.23% 158.4% 171.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $8.328M $3.266M $3.266M
YoY Change 614.85% 171.49% 171.49%
TOTAL ASSETS
Total Short-Term Assets $1.074B $637.3M $637.3M
Total Long-Term Assets $8.328M $3.266M $3.266M
Total Assets $1.082B $640.5M $640.5M
YoY Change 225.55% 76.67% 76.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.53M $28.04M $28.04M
YoY Change 77.51% 17.67% 17.67%
Accrued Expenses $92.27M $89.98M $90.51M
YoY Change 7.83% -1.62% -1.69%
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 $114.3M $118.5M $118.5M
YoY Change 16.26% 2.29% 2.29%
LONG-TERM LIABILITIES
Long-Term Debt $116.1M $115.5M $115.5M
YoY Change 38.31% 134.29% 134.29%
Other Long-Term Liabilities $1.045M $1.186M $1.186M
YoY Change
Total Long-Term Liabilities $117.2M $116.7M $116.7M
YoY Change 39.56% 136.7% 136.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $114.3M $118.5M $118.5M
Total Long-Term Liabilities $117.2M $116.7M $116.7M
Total Liabilities $231.5M $235.2M $235.2M
YoY Change 26.99% 42.4% 42.4%
SHAREHOLDERS EQUITY
Retained Earnings -$1.484B -$1.336B
YoY Change 42.67% 38.81%
Common Stock $2.335B $1.741B
YoY Change 96.24% 50.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $850.8M $405.3M $405.3M
YoY Change
Total Liabilities & Shareholders Equity $1.082B $640.5M $640.5M
YoY Change 225.55% 76.67% 76.67%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$147.5M -$112.2M -$373.6M
YoY Change 91.81% 30.6% 26.47%
Depreciation, Depletion And Amortization $168.0K $142.0K $527.0K
YoY Change 35.48% 10.08% 12.85%
Cash From Operating Activities -$149.2M -$79.93M -$324.2M
YoY Change 77.43% 36.6% 44.19%
INVESTING ACTIVITIES
Capital Expenditures $357.0K $1.036M $1.479M
YoY Change 920.0% 3472.41% 581.57%
Acquisitions
YoY Change
Other Investing Activities $98.41M -$361.1M -$501.0M
YoY Change -152.67% -643.67% -342.16%
Cash From Investing Activities $98.05M -$362.1M -$502.5M
YoY Change -152.47% -645.47% -343.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $573.7M 479.9M $595.1M
YoY Change 988.83% 81.55% 89.86%
NET CHANGE
Cash From Operating Activities -$149.2M -79.93M -$324.2M
Cash From Investing Activities $98.05M -362.1M -$502.5M
Cash From Financing Activities $573.7M 479.9M $595.1M
Net Change In Cash $522.6M 37.86M -$231.6M
YoY Change -339.46% -86.09% -178.45%
FREE CASH FLOW
Cash From Operating Activities -$149.2M -$79.93M -$324.2M
Capital Expenditures $357.0K $1.036M $1.479M
Free Cash Flow -$149.5M -$80.97M -$325.7M
YoY Change 77.78% 38.3% 44.71%

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886000 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
595116000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
313451000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
171237000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-231634000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
295280000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17735000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
331549000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36269000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54004000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
99915000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
331549000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36269000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1628000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
583000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
376000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Use of Estimates </span></div>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.
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2023 mdgl Patent Costs
PatentCosts
900000 usd
CY2022 mdgl Patent Costs
PatentCosts
500000 usd
CY2021 mdgl Patent Costs
PatentCosts
500000 usd
CY2023 mdgl Deferred Tax Assets Percentage Of Valuation Allowance
DeferredTaxAssetsPercentageOfValuationAllowance
1
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-373600000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1336300000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-962700000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
99915000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
99915000 usd
CY2023Q4 mdgl Cash Cash Equivalents And Short Term Investments At Cost
CashCashEquivalentsAndShortTermInvestmentsAtCost
633663000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
476000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
8000 usd
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
634131000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
331549000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
331549000 usd
CY2022Q4 mdgl Cash Cash Equivalents And Short Term Investments At Cost
CashCashEquivalentsAndShortTermInvestmentsAtCost
358806000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
7000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
39000 usd
CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
358774000 usd
CY2023Q4 mdgl Accrued Contract Research Costs Current
AccruedContractResearchCostsCurrent
50737000 usd
CY2022Q4 mdgl Accrued Contract Research Costs Current
AccruedContractResearchCostsCurrent
53119000 usd
CY2023Q4 mdgl Accrued Other Clinical Study Related Costs Current
AccruedOtherClinicalStudyRelatedCostsCurrent
3724000 usd
CY2022Q4 mdgl Accrued Other Clinical Study Related Costs Current
AccruedOtherClinicalStudyRelatedCostsCurrent
6582000 usd
CY2023Q4 mdgl Accrued Manufacturing And Drug Supply Current
AccruedManufacturingAndDrugSupplyCurrent
9705000 usd
CY2022Q4 mdgl Accrued Manufacturing And Drug Supply Current
AccruedManufacturingAndDrugSupplyCurrent
11262000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
17030000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14864000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
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6814000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4867000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1970000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
767000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
89980000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
91461000 usd
CY2022Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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14899 shares
CY2022Q2 us-gaap Warrants And Rights Outstanding
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600000 usd
CY2023Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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4555 shares
CY2023Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
900000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
12802000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
79604000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
53387000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
145793000 usd
CY2023 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
24641000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
5672000 usd
CY2023Q4 us-gaap Long Term Debt
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115480000 usd
CY2023 mdgl Common Stock Voting Rights Number
CommonStockVotingRightsNumber
1 vote
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2857054 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
81.78
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
31111 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
190.91
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
460385 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
88.83
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
72001 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
144.24
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2355779 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
79.94
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M3D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
359861000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1774976 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
74.49
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y8M15D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
281400000 usd
CY2023Q4 mdgl Common Stock Capital Shares Granted And Issuable
CommonStockCapitalSharesGrantedAndIssuable
2881896 shares
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49735000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31625000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26873000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49735000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31625000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26873000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1600000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
937000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
478000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
446000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1861000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
148000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1713000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1095
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
1100000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
1100000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
800000 usd
CY2023 us-gaap Revenues
Revenues
0 usd
CY2021 us-gaap Revenues
Revenues
0 usd
CY2022 us-gaap Revenues
Revenues
0 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1600000 usd
CY2023Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
46100000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
112000000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
117000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
0 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
0 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
117000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
37000 usd
CY2022Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
45000 usd
CY2021Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
53000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
3857000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2398000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1857000 usd
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
503000 usd
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
589000 usd
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
783000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
33976000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
27226000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
24335000 usd
CY2023Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
95000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
106000 usd
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
80000 usd
CY2023Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
8000 usd
CY2021Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
23000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
121552000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
68305000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
47864000 usd
CY2023Q4 mdgl Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
175145000 usd
CY2022Q4 mdgl Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
137328000 usd
CY2021Q4 mdgl Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
112848000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
48074000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
35103000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
23799000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
383239000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
271108000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
211642000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
383122000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
271108000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
211642000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
117000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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-8287000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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0 usd
CY2023 mdgl Effective Income Tax Rate Reconciliation162 M Limitation Amount
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3183000 usd
CY2022 mdgl Effective Income Tax Rate Reconciliation162 M Limitation Amount
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7996000 usd
CY2021 mdgl Effective Income Tax Rate Reconciliation162 M Limitation Amount
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22000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
53000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
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16000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
5000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
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-16246000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
13090000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-19622000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
112606000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
59466000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
79258000 usd
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
12971000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
10712000 usd
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
9002000 usd
CY2023 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
124000 usd
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
11000 usd
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
127000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Revenues
Revenues
0 usd
CY2023Q2 us-gaap Revenues
Revenues
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CY2023Q3 us-gaap Revenues
Revenues
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CY2023Q4 us-gaap Revenues
Revenues
0 usd
CY2023Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
62154000 usd
CY2023Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
68605000 usd
CY2023Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
70951000 usd
CY2023Q4 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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GeneralAndAdministrativeExpense
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GeneralAndAdministrativeExpense
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CY2023Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2023Q4 us-gaap Investment Income Interest
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CY2023Q4 us-gaap Interest Expense
InterestExpense
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CY2023Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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CY2023Q2 us-gaap Other Nonoperating Income
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Revenues
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CY2022Q3 us-gaap Revenues
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CY2022Q4 us-gaap Revenues
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CY2022Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2022Q4 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2022Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
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CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
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CY2022Q3 us-gaap Operating Expenses
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OperatingExpenses
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CY2022Q1 us-gaap Operating Income Loss
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CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2022Q1 us-gaap Investment Income Interest
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CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
323000 usd
CY2022Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
717000 usd
CY2022Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2022Q1 us-gaap Interest Expense
InterestExpense
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CY2022Q2 us-gaap Interest Expense
InterestExpense
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CY2022Q3 us-gaap Interest Expense
InterestExpense
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CY2022Q4 us-gaap Interest Expense
InterestExpense
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CY2022Q1 us-gaap Other Nonoperating Income
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CY2022Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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CY2022Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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CY2022Q4 us-gaap Other Nonoperating Income
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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q4 us-gaap Net Income Loss
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CY2022Q1 us-gaap Earnings Per Share Diluted
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CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17103395 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17103395 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17103395 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17103395 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17103395 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17237517 shares
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17237517 shares

Files In Submission

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0001628280-24-007376-index.html Edgar Link pending
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a10ormofindemnificationagr.htm Edgar Link pending
a20231231-ex311.htm Edgar Link pending
a20231231-ex312.htm Edgar Link pending
a20231231-ex321.htm Edgar Link pending
a2312023madrigalconsentlet.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
mdgl-20231231.htm Edgar Link pending
mdgl-20231231.xsd Edgar Link pending
mdgl-20231231_g1.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
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mdgl-20231231_cal.xml Edgar Link unprocessable
mdgl-20231231_def.xml Edgar Link unprocessable
mdgl-20231231_pre.xml Edgar Link unprocessable
mdgl-20231231_htm.xml Edgar Link completed
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable