Madrigal Pharmaceuticals Announces Proposed Public Offering Of Common Stock

CONSHOHOCKEN, Pa., Dec. 18, 2017 (GLOBE NEWSWIRE) — Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for cardiovascular, metabolic and liver diseases, today announced that it has commenced an underwritten public offering of $100 million of its common stock. Madrigal also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering. All of the shares in the proposed offering are to be sold by Madrigal.

Goldman Sachs & Co. LLC, is the sole book runner of the proposed offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The shares are being offered by Madrigal pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC) on August 6, 2015. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting the following: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, email: [email protected] The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.