Madrigal Pharmaceuticals, a West Conshohocken company with 10 employees, has seen incredible growth in the price of its stock over the past year due to successful results in clinical testing for one of its products.
From the Philadelphia Business Journal:
In the past year, the company’s stock has soared from $15.50 a share to more than $300, hitting a 52-week high of $325.98 last month. It was trading at $286 at the start of this week.
Fueling the growth is the company’s successful results from midstage clinical testing of its new method for treating nonalcoholic steatohepatitis, or NASH, a liver disease that afflicts 20 million people in the United States.
“We were flying under the radar before,” said Paul Friedman, Madrigal’s CEO. “Now we are a known entity even though we are small because NASH is such a big area right now.”
Read the full article here.