05:13 PM EDT, 03/18/2024 (MT Newswires) -- Madrigal Pharmaceuticals ( MDGL ) said late Monday it has started an underwritten public offering of $500 million in shares and prefunded warrants to purchase shares.

The firm also plans to grant its underwriters a 30-day option to buy up to an additional 15% shares being offered to the public.

It plans to use the proceeds to fund the launch of its Rezdiffra in the US and for general corporate purposes.

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