Madrigal Pharmaceuticals Wins Approval for the First Drug Targeting the Multibillion-Dollar NASH Market. Is the Stock a Screaming Buy?
Some events are so pivotal for a company that they cause everything to change. The company's world instantly becomes brighter -- or darker.
Madrigal Pharmaceuticals (NASDAQ: MDGL) just experienced such an event. Last Thursday, the company won U.S. Food and Drug (FDA) approval for the first drug targeting the multibillion-dollar market for nonalcoholic steatohepatitis (NASH). Is Madrigal stock now a screaming buy?
Investors have known for months that an FDA approval decision was coming on Madrigal's resmetirom as a treatment for NASH. In September, the agency set a PDUFA date for March 14. Madrigal was optimistic it would win approval, gearing up for an anticipated commercial launch.
Source Fool.com
