Published on 19 Apr 2023 on Zacks via Yahoo Finance

Biotech Stock Roundup: MDGL, PCVX Up on Study Data, MRNA Provides Updates

The biotech sector has been in focus in the past week with key pipeline and regulatory updates. Among these, Madrigal Pharmaceuticals, Inc. MDGL surged on nonalcoholic steatohepatitis (NASH) data.

Recap of the Week’s Most Important Stories:

Madrigal Up on NASH Data:  Madrigal stock soared after it announced that the FDA granted Breakthrough Therapy designation to its experimental candidate resmetirom for the treatment of NASH. This designation expedites the development and review of drugs for serious or life-threatening conditions. The breakthrough therapy designation requires preliminary clinical evidence that demonstrates the drug may have substantial improvement on at least one clinically significant endpoint over available therapy or over placebo if there is no available therapy.