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Biotech / Medical : Madrigal Pharmaceuticals

MDGL 418.90

-2.0%

Oct 31 9:30 AM EDT

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To: tuck who wrote (123)	8/7/2019 12:01:49 PM
From: Miljenko Zuanic	of 138

I think that Pinnacle is main (master) CRO, and sites that are controlled by them would not be shown as separated site. Similar was with ESPR BA (Bempedoic Acid) P3 programs (for instance clinicaltrials.gov ! Idea is to reduce cost, and CRO may have better holding on what is going on at any particular center. I checked 2Q R&D expense (10Q, $15.5 M is LOW): " In particular, Madrigal has conducted safety studies in animals, optimized and implemented the API manufacturing process, and conducted clinical trials, all of which are considered research and development expenditures.", so it may be that they are slow in P3 progress. On F1 sub-group: "The total anticipated enrollment is approximately 2,000 patients, and will include up to 15% high risk F1 fibrosis stage NASH patients whose efficacy responses will be evaluated as exploratory endpoints."

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