Madrigal Pharma prices upsized $600 million public offering

Madrigal Pharmaceuticals (Nasdaq: MDGL) saw its shares close down 6.2% at $265.68 yesterday, after it announced the pricing of its underwritten public offering of 750,000 shares of its common stock at $260.0000 per share, and, to certain investors, pre-funded warrants to purchase 1,557,692 shares of common stock at a price of $259.9999 per pre-funded warrant.

The size of the offering was increased by $100 million subsequent to the initial announcement of the offering.

The gross proceeds to Madrigal from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $600 million.