Madrigal Pharmaceuticals MDGL Q2 2026: Revenue Hits $364M, Up 71%
As seen on the 24/7 Wall St. homepage on July 30, 2026.
Madrigal's MASH therapy Rezdiffra just crossed 50,000 patients as Q2 revenue surged 71% year-over-year, beating estimates by 3.3% on the back of accelerating physician adoption and a direct-to-consumer push that's turning a once-obscure liver disease into a scaled commercial opportunity.
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Rezdiffra, Madrigal's treatment for metabolic dysfunction-associated steatohepatitis (MASH), has now reached more than 50,000 patients, a milestone that is showing up clearly in the financials. Q2 2026 revenue came in at $364.3 million, clearing analyst estimates of $352.5 million by about 3.3% and marking a dramatic acceleration from the $14.6 million the company posted in Q2 2024. The sequential revenue trend tells the same story: from $311.3 million in Q1 2026 to $364.3 million in Q2 2026, the ramp shows no sign of flattening.
On the bottom line, Madrigal reported a loss of $1.99 per share against an estimated loss of $2.23, beating by roughly 11%. That narrowing loss, combined with surging top-line growth, reflects the commercial engine behind Rezdiffra gaining traction — both through accelerating physician adoption and a direct-to-consumer campaign that has raised awareness of a liver disease that was largely off the public radar before the drug's launch.
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The trajectory since Rezdiffra's commercial debut is striking: revenue has climbed from $62.2 million in Q3 2024 to $287.3 million in Q3 2025 to $364.3 million in this most recent quarter. Investors will be watching whether patient growth continues to outpace expectations and whether the DTC push can sustain the kind of physician-adoption momentum that has driven seven consecutive quarters of meaningful revenue gains.
Mentioned: MDGL