08:14 AM EDT, 08/07/2024 (MT Newswires) -- Madrigal Pharmaceuticals ( MDGL ) reported a Q2 net loss Wednesday of $7.10 per diluted share, widening from a loss of $4.69 a year earlier.

Analysts polled by Capital IQ expected a loss of $7.61.

Total revenue for the quarter ended June 30 was $14.6 million. The company did not recognize a revenue a year earlier.

The biopharmaceutical firm also said it had $1.1 billion in cash, cash equivalents, restricted cash and marketable securities as of June 30.

Shares of Madrigal rose 5.8% in recent premarket activity Wednesday.

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