Madrigal Pharmaceuticals Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	295.69	100.02	99.92	331.55	36.27	54
Short-Term Investments	814.06	826.23	534.22	27.23	234.08	230.15
Cash & Short-Term Investments	1,110	926.25	634.13	358.77	270.35	284.15
Cash Growth	11.13%	46.07%	76.75%	32.71%	-4.86%	-35.28%
Accounts Receivable	113.29	53.82	-	-	-	-
Receivables	113.29	53.82	-	-	-	-
Inventory	69.32	34.07	-	-	-	-
Prepaid Expenses	49.33	13.79	3.15	2.6	1.34	1.01
Restricted Cash	5	5	-	-	-	-
Total Current Assets	1,347	1,033	637.28	361.37	271.68	285.16
Property, Plant & Equipment	8.3	4.59	3.27	1.2	1.65	1.83
Other Intangible Assets	7.48	4.73	-	-	-	-
Total Assets	1,362	1,042	640.55	362.57	273.33	287
Accounts Payable	44.94	43.6	28.04	23.83	21.38	1.02
Accrued Expenses	345.38	124.7	89.98	91.46	55.05	45.22
Current Portion of Leases	1.08	0.98	0.53	0.6	0.41	0.32
Total Current Liabilities	391.41	169.28	118.55	115.89	76.84	46.56
Long-Term Debt	339.75	117.57	115.48	49.29	-	-
Long-Term Leases	5.57	1.02	1.19	-	0.39	0.47
Total Liabilities	736.73	287.86	235.21	165.18	77.23	47.03
Common Stock	0	0	0	0	0	0
Additional Paid-In Capital	2,657	2,556	1,741	1,160	863.5	665.39
Retained Earnings	-2,032	-1,802	-1,336	-962.66	-667.31	-425.46
Comprehensive Income & Other	1.07	0.47	0.47	-0.03	-0.08	0.05
Shareholders' Equity	625.73	754.38	405.33	197.39	196.11	239.97
Total Liabilities & Equity	1,362	1,042	640.55	362.57	273.33	287
Total Debt	346.4	119.57	117.19	49.89	0.8	0.79
Net Cash (Debt)	763.35	806.68	516.94	308.88	269.55	283.36
Net Cash Growth	-13.21%	56.05%	67.36%	14.59%	-4.88%	-35.36%
Net Cash Per Share	34.42	37.92	27.66	18.02	16.30	18.34
Filing Date Shares Outstanding	22.71	22.08	19.9	18.14	17.1	16.02
Total Common Shares Outstanding	22.7	22	19.88	18.1	17.1	15.51
Working Capital	955.27	863.65	518.73	245.48	194.85	238.61
Book Value Per Share	27.56	34.28	20.39	10.90	11.47	15.47
Tangible Book Value	618.26	749.65	405.33	197.39	196.11	239.97
Tangible Book Value Per Share	27.23	34.07	20.39	10.90	11.47	15.47

Source: S&P Global Market Intelligence. Standard template. Financial Sources.