Madrigal Pharmaceuticals (MDGL) Research & Development (2010 - 2026)
Madrigal Pharmaceuticals (MDGL) reported Research & Development of $108.7 million for Q1 2026, up 146.07% year-over-year from $44.2 million in Q1 2025, and down 6.52% quarter-over-quarter from $116.3 million in Q4 2025.
Madrigal Pharmaceuticals (MDGL) Research & Development (2010 - 2026) Analysis & Trends
Madrigal Pharmaceuticals (MDGL) has 17 years of Research & Development data on file, last reported at $108.7 million in Q1 2026.
- Research & Development for Q1 2026 came in at $108.7 million, up 146.07% year-over-year; the trailing twelve-month figure through Mar 2026 was $453.0 million (up 105.09% YoY), and the FY2025 annual result was $388.5 million, up 64.13% from the prior year.
- Research & Development eased to $108.7 million in Q1 2026 per MDGL's latest filing, from $116.3 million in the prior quarter.
- Over five years, Research & Development peaked at $174.0 million in Q3 2025 and troughed at $36.9 million in Q4 2024.
- A 5-year average of $74.3 million and a median of $68.7 million in 2024 frame the typical range for Research & Development.
- The sharpest annual moves came in 2024 and 2025: Research & Development plunged 47.76% in 2024, then jumped 215.09% in 2025.
- A 5-year view of Research & Development shows it stood at $70.7 million in 2022, then dropped by 0.14% to $70.6 million in 2023, then sank by 47.76% to $36.9 million in 2024, then jumped by 215.09% to $116.3 million in 2025, then slipped by 6.52% to $108.7 million in 2026.
- Business Quant data shows MDGL's Research & Development at $108.7 million in Q1 2026, $116.3 million in Q4 2025, and $174.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alterity Therapeutics | 925,601.88 Bn | 925,601.85 Bn | - | 4.32 Mn |
| 2 | Belite Bio | 58,560.00 Bn | 58,560.00 Bn | - | 15.66 Mn |
| 3 | Quantum Biopharma | 17,284.41 Bn | 17,284.40 Bn | - | 626,092.00 |
| 4 | Legend Biotech | 2,809.00 Bn | 2,808.71 Bn | 242.10 Mn | -101.30 Mn |
| 5 | Evaxion A | 1,334.43 Bn | 1,334.42 Bn | - | -2.30 Mn |
| 6 | Akari Therapeutics | 1,312.27 Bn | 1,312.26 Bn | - | 1.46 Mn |
| 7 | Psyence Biomedical | 212.16 Bn | 212.16 Bn | - | 357,444.00 |
| 8 | Vertex Pharmaceuticals | 114.83 Bn | 107.58 Bn | 2.59 Bn | 961.60 Mn |
| 9 | Abivax | 91.96 Bn | 91.96 Bn | - | -58.00 Mn |
| 10 | Madrigal Pharmaceuticals | 14.67 Bn | 14.44 Bn | - | 108.69 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 108.69 Mn |
| Dec 31, 2025 | 116.27 Mn |
| Sep 30, 2025 | 174.00 Mn |
| Jun 30, 2025 | 54.08 Mn |
| Mar 31, 2025 | 44.17 Mn |
| Dec 31, 2024 | 36.90 Mn |
| Sep 30, 2024 | 68.74 Mn |
| Jun 30, 2024 | 71.09 Mn |
| Mar 31, 2024 | 71.24 Mn |
| Dec 31, 2023 | 70.64 Mn |
| Sep 30, 2023 | 70.95 Mn |
| Jun 30, 2023 | 68.61 Mn |
| Mar 31, 2023 | 62.15 Mn |
| Dec 31, 2022 | 70.74 Mn |
| Sep 30, 2022 | 68.27 Mn |
| Jun 30, 2022 | 58.50 Mn |
| Mar 31, 2022 | 47.93 Mn |
| Dec 31, 2021 | 52.89 Mn |
| Sep 30, 2021 | 54.87 Mn |
| Jun 30, 2021 | 51.63 Mn |