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Madrigal Pharmaceuticals Inc. (MDGL) Soared To A New High On Study Results

Madrigal Pharmaceuticals Inc. (MDGL) announced Wednesday morning that its Phase 2 trial of MGL-3196, in patients with biopsy-proven non-alcoholic steatohepatitis, met its primary endpoint.

Madrigal Pharmaceuticals gapped open higher Wednesday and rose sharply during the first half hour of trade. The stock settled into a range for the rest of the session and closed up by 40.88 at $87.18 on the highest volume of the year. Madrigal Pharmaceuticals broke out of over a 2-month trading range and set a new high for the year.

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