Madrigal Pharmaceuticals Announces Proposed Public Offering of Common Stock
December 18 2017 - 6:50AM
Madrigal Pharmaceuticals, Inc. (Nasdaq:MDGL), a clinical-stage
biopharmaceutical company focused on the development and
commercialization of innovative therapies for cardiovascular,
metabolic and liver diseases, today announced that it has commenced
an underwritten public offering of $100 million of its common
stock. Madrigal also intends to grant the underwriters a 30-day
option to purchase up to an additional fifteen percent (15%) of the
shares of common stock offered in the public offering. All of the
shares in the proposed offering are to be sold by Madrigal.
Goldman Sachs & Co. LLC, is the sole book runner of the
proposed offering. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The shares are being offered by Madrigal pursuant to an
effective shelf registration statement on Form S-3 that was
previously filed with the Securities and Exchange Commission (SEC)
on August 6, 2015. A preliminary prospectus supplement relating to
and describing the terms of the offering will be filed with the SEC
and will be available on the SEC’s website at www.sec.gov. When
available, copies of the preliminary prospectus supplement and the
accompanying prospectus relating to these securities may also be
obtained by contacting the following: Goldman Sachs & Co.
LLC, Attn: Prospectus Department, 200 West Street, New York, NY
10282, telephone: (866) 471-2526, facsimile:
(212) 902-9316, email: prospectus-ny@ny.email.gs.com. The
final terms of the offering will be disclosed in a final prospectus
supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
About Madrigal Pharmaceuticals, Inc.
Madrigal Pharmaceuticals, Inc. (Nasdaq:MGDL) is a
clinical-stage biopharmaceutical company pursuing novel
therapeutics that target a specific thyroid hormone receptor
pathway in the liver, which is a key regulatory mechanism common to
a spectrum of cardio-metabolic and fatty liver diseases with high
unmet medical need. Madrigal’s lead candidate, MGL-3196, is a
first-in-class, orally administered, small-molecule,
liver-directed, thyroid hormone receptor (THR) β-selective agonist
that is currently in Phase 2 development for non-alcoholic
steatohepatitis (NASH) and heterozygous familial
hypercholesterolemia (HeFH).
Forward-Looking Statements
Statements in this release concerning Madrigal’s future
expectations, plans and prospects, including, without limitation,
statements about Madrigal’s proposed public offering, constitute
forward-looking statements for the purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Actual results and future plans may differ materially from
those indicated by these forward-looking statements as a result of
various important factors, including, without limitation, risks
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, as well as
those risks more fully discussed in the “Risk Factors” filed with
Madrigal’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2016, filed with the SEC, and in other filings that
Madrigal makes with the SEC. There can be no assurance that
Madrigal will be able to complete the proposed public offering on
the anticipated terms, or at all. You should not place undue
reliance on these forward-looking statements. In addition, any
forward-looking statements represent Madrigal’s views only as of
today and should not be relied upon as representing its views as of
any subsequent date. Madrigal explicitly disclaims any obligation,
except to the extent required by law, to update any forward-looking
statements.
Investor Relations Madrigal Pharmaceuticals,
Inc. Marc SchneebaumIR@madrigalpharma.com
Media Contact Sam Brown Inc. Kristin Paulina,
610-524-2959 kristinpaulina@sambrown.com
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