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(RTTNews) - Stock of Madrigal Pharmaceuticals, Inc. (MDGL) is falling about 11 percent on Thursday morning trading despite reporting positive fourth quarter financial results, which saw a drop in net loss to $58.58 million, or $2.57 per share, from $59.42 million, or $2.71 per share, last year.
The company's stock is currently trading at $436.13, down 11.33 percent or $55.71, over the previous close of $491.49 on the Nasdaq. It has traded between $265.00 and $615.00 in the past one year.
The company's revenue for the quarter rose about 210 percent, to $321.08 million from $103.32 million in the prior year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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