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Madrigal Pharmaceuticals starts $200M common stock offering

Madrigal Pharmaceuticals Inc. started an underwritten public offering of $200 million of its common shares.

In addition, Madrigal plans to grant the underwriter an option to buy up to an additional 15% of the shares offered.

Existing stockholders of Madrigal, which include certain executive officers and directors and affiliates, are also offering up to 363,625 shares of the company in the offering.

Madrigal will not receive any proceeds from the sale of the shares by these selling stockholders.

Goldman Sachs & Co. LLC is the sole book runner of the proposed offering.

West Conshohocken, Pa.-based Madrigal Pharmaceuticals is a clinical-stage biopharmaceutical company, which focuses on the development and commercialization of therapeutic candidates to treat cardiovascular, metabolic and liver diseases.