Madrigal Pharmaceuticals (MDGL) Research & Development (2010 - 2026)

Madrigal Pharmaceuticals (MDGL) has reported Research & Development for 17 consecutive years, with $91.2 million the latest figure, recorded in Q2 2026.

• In Q2 2026, Research & Development rose 68.6% year-over-year to $91.2 million; the TTM figure through Jun 2026 stood at $490.1 million (up 140.39% YoY), while the FY2025 annual figure was $388.5 million, up 64.13% from the prior year.
• Research & Development eased to $91.2 million in Q2 2026 per MDGL's latest filing, from $108.7 million in the prior quarter.
• Across five years, Research & Development topped out at $174.0 million in Q3 2025 and bottomed at $36.9 million in Q4 2024.
• Historically, Research & Development has averaged $75.2 million across 5 years, with a median of $69.7 million in 2023.
• Annual changes were most pronounced in 2024 — Research & Development plunged 47.76% — and 2025, when it jumped 215.09%.
• Madrigal Pharmaceuticals' Research & Development stood at $70.7 million in 2022, then declined by 0.14% to $70.6 million in 2023, then slumped by 47.76% to $36.9 million in 2024, then surged by 215.09% to $116.3 million in 2025, then dropped by 21.58% to $91.2 million in 2026.
• Business Quant data shows MDGL's Research & Development at $91.2 million in Q2 2026, $108.7 million in Q1 2026, and $116.3 million in Q4 2025.