While Madrigal Pharmaceuticals' (NASDAQ: MDGL) shares have gained only about 5% in the past 12 months, things are looking up for the midcap biotech. With its triumphant entry into an unserved market thanks to the approval of its latest medicine, Madrigal can now start to report sales for the first time.

Let's take a beat and assess how important this accomplishment is, and how it could benefit investors moving forward.

On March 14, the Food and Drug Administration (FDA) signed off on Madrigal's therapy called Rezdiffra, which is the first approved drug that treats metabolic dysfunction-associated steatohepatitis (MASH), a liver-scarring disease formerly known as non-alcoholic steatohepatitis (NASH).

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Source Fool.com