Madrigal Pharmaceuticals’ Strategic Stock Sales Agreements

Madrigal Pharmaceuticals Inc (MDGL) has shared an update.

Madrigal Pharmaceuticals has entered into a Sales Agreement with TD Securities, with the potential to sell up to $300 million in common stock through “at the market” offerings. While there is no obligation to sell, TD Cowen will aim to sell the stock based on the company’s directives. This move follows a prior agreement with an affiliate of TD Cowen, which saw Madrigal sell over 1.3 million shares for $225.1 million. Additionally, Madrigal will not profit from the sale of 7 million shares by a stockholder, as detailed in a recent prospectus supplement.

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