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Why Madrigal Pharmaceuticals Stock Is Marching Higher Today

George Budwell, The Motley Fool
·2-min read
Why Madrigal Pharmaceuticals Stock Is Marching Higher Today

Shares of the clinical-stage drugmaker Madrigal Pharmaceuticals (NASDAQ: MDGL) were up by 6.2% on elevated volume as of 12:16 p.m. ET Wednesday. The biotech appears to be benefiting from two key tailwinds. First, a Food and Drug Administration (FDA) panel voted overwhelmingly last Friday against approving Intercept Pharmaceuticals' (NASDAQ: ICPT) candidate, obeticholic acid, for treating pre-cirrhotic fibrosis due to nonalcoholic steatohepatitis (NASH).

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