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Madrigal Pharmaceuticals Completes $135 Million Follow-On Public Offering

Madrigal Pharmaceuticals, Inc.

Represented Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) in connection with a follow-on public offering consisting of 1,731,929 shares of its common stock, which included 225,904 shares purchased pursuant to the full exercise of the overallotment option, at a public offering price of $83.00 per share, for gross proceeds of approximately $135 million. Madrigal intends to use the proceeds for general corporate purposes, including research and development, clinical trials, manufacturing drug products and working capital. Underwriters included Goldman Sachs & Co LLC (as Representative), Evercore ISI, JMP Securities, Roth Capital Partners and H.C. Wainwright & Co.

Madrigal is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic and liver diseases. HSP90 drug conjugates are designed to increase cancer cell killing while reducing collateral damage to normal cells and overcome the challenges of current chemotherapies and other payloads, which are commonly limited by insufficient drug exposure in the tumor and/or systemic toxicities.