Madrigal Pharmaceuticals (MDGL)

Dilution

The share count is up +2.3% in a year, so each share is a slightly smaller slice of the company. What dilution means.

Insider trades

Bought or sold on the open market

An insider buying with their own money is a stronger signal than a sale: people sell for taxes, houses and diversification. "Planned" sales were scheduled months ahead under a 10b5-1 plan. Source: SEC Form 4.

Famous investors who own it

None of the 18 famous investors I track owned MDGL at their last 13F. Who I track.

Failed trades

From the SEC's fails-to-deliver data, which runs two to four weeks behind. A spike can mean heavy short selling or just back-office delays; it isn't proof of anything on its own. Short interest isn't shown: FINRA's terms don't allow republishing it.

Share offerings

Selling new shares dilutes current owners. A "shelf" is permission to sell later; a 424B5 usually means a sale is actually happening.

• Jun 17, 2026S-8Registered shares for employee stock plans
• Sep 11, 2025S-8Registered shares for employee stock plans
• Jun 20, 2025S-8Registered shares for employee stock plans

What they told the SEC, in plain English

Every 8-K (the report a company files when something big happens) in the last two years. Red ones are worth a closer look: auditor changes, restatements, late reports, listing problems.

• Nov 3, 20268-KReleased quarterly results
• Aug 12, 20268-KExecutive or board change; Shared information with investors
• Jul 30, 20268-KReleased quarterly results
• Jun 17, 20268-KExecutive or board change; Shareholder vote results
• May 6, 20268-KReleased quarterly results
• Apr 28, 20268-KExecutive or board change
• Feb 19, 20268-KReleased quarterly results
• Jan 30, 20268-KSigned a major agreement
• Dec 11, 20258-KExecutive or board change
• Nov 4, 20258-KReleased quarterly results
• Aug 5, 20258-KReleased quarterly results
• Jul 30, 20258-KShared information with investors
• Jul 22, 20258-KSigned a major agreement; Ended a major agreement; Took on new debt; Shared information with investors
• Jun 20, 20258-KShareholder vote results
• May 1, 20258-KReleased quarterly results
• Apr 17, 20258-KExecutive or board change
• Mar 11, 20258-KExecutive or board change; Shared information with investors
• Feb 26, 20258-KReleased quarterly results
• Jan 13, 20258-KReleased quarterly results
• Nov 14, 2024SC 13GAn investor reported a 5%+ stake

What changed in the latest annual report

Comparing the risk factors in the 10-K filed Feb 19, 2026 with the one filed Feb 26, 2025: 9 new and 4 removed, out of 76.

New this year

• If we are unable to obtain or maintain adequate coverage and reimbursement from government or third-party payors for Rezdiffra or, if approved, any other product candidates, our prospects for generating revenue may be adversely affected.
• Federal legislative and regulatory efforts to implement reference pricing or most-favored-nation pricing models could impact our product revenues and harm our business.
• Rezdiffra was approved for treatment in a limited population of patients with MASH with moderate to advanced liver fibrosis, and additional clinical trials and regulatory applications will be required to expand its indication. We may not be successful in these trials or in obtaining such…
• EU pricing and reimbursement regulations may materially affect our ability to market and receive coverage for Rezdiffra in the EU Member States.
• We may in the future conduct certain clinical trials for our product candidates outside of the U.S. However, the FDA may not accept data from such trials, in which case our development plans will be delayed, which could materially harm our business.
• Using specialty distributors to market and sell Rezdiffra in certain jurisdictions outside of the United States subjects us to certain risks.
• Anti-takeover provisions in our restated certificate of incorporation (our "Charter"), our Restated Bylaws (our "Bylaws") and under Delaware law could make an acquisition of our company, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to…
• Taxing authorities could challenge our historical and future tax positions or our allocation of taxable income among our subsidiaries and we may incur additional tax liabilities.
• Volatility in foreign currency exchange rates could have a material adverse effect on our operating results.

Matched by each risk's headline, so a reworded risk can show up as new. This year's report · last year's.

Government contracts

$65.3K in federal contract money over the last 12 months, across 2 awards and changes.

From USAspending.gov. Amounts are money the government committed, which can be cut later.

Search inside Madrigal Pharmaceuticals's filings

Opens the SEC's own full-text search in a new tab, limited to MDGL. Every MDGL filing on EDGAR.