Madrigal Pharmaceuticals, Inc.

Cash and Cash Equivalents The Company considers all highly liquid debt instruments with an original maturity of three months or less to be cash equivalents.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

11 Table of Contents Marketable Securities Marketable securities consist of available-for-sale debt securities that are presented as current assets in the Company s consolidated balance sheets.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

The Company adjusts the cost of available-for-sale debt securities for amortization of premiums and accretion of discounts to maturity.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

To determine whether an impairment exists, the Company considers whether it intends to sell the debt security and, if the Company does not intend to sell the debt security, it considers available evidence to assess whether it is more likely than not that it will be required to sell the security before the recovery of its amortized cost basis.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

When an implicit rate is not readily determinable, an incremental borrowing rate is estimated based on information available at commencement.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

The Black-Scholes model requires inputs for risk-free interest rate, dividend yield, volatility and expected lives of the options.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

(Nasdaq MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today reports first-quarter 2026 financial results and provides corporate updates.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

This new asset advances our strategy to develop next-generation combination therapies across the spectrum of disease.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

First-quarter operating expenses also included one-time, upfront business development expenses of $54.3 million for strategic pipeline expansion.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

The increase was primarily due to continued investment in commercial activities for Rezdiffra, including headcount for the endocrinology field force expansion that began in the fourth quarter of 2025, as well as marketing efforts, including a direct -to-consumer (DTC) campaign.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

(Nasdaq MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to the assumptions underlying the forward-looking statements our ability to successfully commercialize Rezdiffra in the U.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

Securities and Exchange Commission (SEC) for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part 1A of its Annual Report on Form 10-K for the year ended December 31, 2025 , and as updated from time to time by Madrigal s other filings with the SEC.

SEC original ↗Madrigal Pharmaceuticals, Inc. — Earnings release (8-K exhibit)EX-99May 6, 2026

Legal Proceedings 43 Item 1A.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

Hoffmann-La Roche AG in respect of resmetirom; and the regulation of the healthcare industry, including potential pricing reform, and general economic conditions in the United States, Europe and globally, including the impact of tariffs and inflation, that may affect us, our suppliers, third-party service providers and potential partners.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026

These forward-looking statements reflect management s current views with respect to future events and with respect to our business and future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

SEC original ↗Madrigal Pharmaceuticals, Inc. — 10-Q Quarterly report10-QJul 30, 2026