Madrigal jumps after Bloomberg says working with Centerview on sale
Shares of Madrigal Pharmaceuticals (MDGL) jumped after Bloomberg reported, citing people familiar with the matter, that the company is working with Centerview Partners on a potential sale after receiving takeover interest. The talks are at an early stage and Madrigal, which just reported Phase 2 data in non-alcoholic steatohepatitis, may opt to continue operating independently, Bloomberg added. Madrigal shares are up 7%, or $20.29, to $303.00 in late morning trading. The company has nine employees and a market capitalization of around $4.5B. Shares of Intercept Pharmaceuticals (ICPT), which has a competing, and further along than Madrigal's, drug to treat non-alcoholic steatohepatitis, are up 2% to $82.08.