08:08 AM EDT, 05/07/2024 (MT Newswires) -- Madrigal Pharmaceuticals ( MDGL ) reported a Q1 net loss Tuesday of $7.38 per diluted share, widening from a loss of $4.23 a year earlier.

Analysts polled by Capital IQ expected a loss of $6.20.

As expected, the company did not report any revenue for the quarter ended March 31.

The biopharmaceutical firm also said it had $1.06 billion in cash, cash equivalents and marketable securities as of March 31.

Shares of Madrigal fell more than 10% in recent premarket activity Tuesday.

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