Advertisement
New Zealand markets close in 6 hours 11 minutes
  • NZX 50

    12,695.84
    -8.55 (-0.07%)
     
  • NZD/USD

    0.6202
    +0.0044 (+0.71%)
     
  • ALL ORDS

    8,341.10
    +17.60 (+0.21%)
     
  • OIL

    70.49
    +0.40 (+0.57%)
     
  • GOLD

    2,610.10
    +1.20 (+0.05%)
     

Why Madrigal Pharmaceuticals Stock Is Marching Higher Today

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).