Madrigal Pharmaceuticals Inc. (NASDAQ: MDGL) shares rose by as much as 112 percent on Wednesday after it had reached primary endpoints for its mid-stage clinical trial, reaching a new 52-week high.
Madrigal’s daily orally ingested drug, MGL-3196 was used to treat patients with biopsy-confirmed non alcoholic steatohepatitis (NASH). The study exceeded primary end points in the percent change in hepatic fat versus placebo, measured by MRI-PDFF. The treatment group reported a -36.3 percent, while the placebo group only reported -9.6 percent.
The study also tested for the percentage of patients who attained greater than a 30 percent liver fat reduction. The treatment group reached 60.3 percent, while the placebo group only reached 18.4 percent, as well as showing significant improvements in liver enzymes.
Madrigal says patients showed very good tolerability, while reporting very few adverse events.
Clinical trials are still continuing, assessing MRI-PDFF at weeks 12 and 36, and improvement in repeat liver biopsy at 36 weeks.