Shares of Madrigal Pharmaceuticals Inc. soared 209.6% in premarket trading on Monday after the company shared positive data from a pivotal Phase 3 clinical trial assessing its experimental treatment for nonalcoholic steatohepatitis (NASH) with liver fibrosis. Madrigal said it is aiming to get an accelerated approval for the drug, resmetirom. There are no approved treatments for NASH with liver fibrosis, and patients are at risk of liver failure, liver cancer, and premature death. About 5% of the U.S. population has NASH, according to the American Liver Foundation. The full data will be published in a medical journal, Madrigal said. The company’s stock is down 24.7% so far this year, while the S&P 500 has declined 19.1%.
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