MADRIGAL PHARMACEUTICALS, INC. (MDGL)
CIK 1157601 · all EDGAR filings →
Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.
Shares outstanding over time
Latest: 23.1M shares as of Jul 27, 2026 (10-Q). Share count fell from 137.8M to 11.6M between Jul 15, 2016 and Nov 11, 2016, a pattern consistent with a reverse split (roughly 1-for-12); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.
Cash runway
Funded — but tight
~19 months of cash · watch
Full breakdown: cash runway tool · source filing →
Warrants
| Tranche | Warrants | Exercise price | Term | Notes |
|---|---|---|---|---|
| A2023 Pre Funded Warrants | 2.0M | $0.0001 | — | — |
| A2024 Pre Funded Warrants | 1.6M | $0.0001 | — | — |
| Hercules Warrant Tranche One | 14,899 | not tagged | — | FV $600,000 |
| Hercules Warrant Tranche Two | 4,555 | not tagged | — | FV $900,000 |
Tranches exactly as the company dimensioned them in its 10-Q filed Jul 30, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.
Warrants outstanding: 4,555 underlying shares, as reported Sep 30, 2023 (10-K).
Balance-sheet fair value of warrants: $900,000 as of Sep 30, 2023.
Rough fully diluted estimate: 23.1M = 23.1M O/S + 4,555 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.
Convertible notes
No convertible-note facts tagged in the 10-Q filed Jul 30, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.
Fully diluted build-up
Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.
| Shares outstanding | 23.1M | Jul 27, 2026 |
| + A2023 Pre Funded Warrants (if exercised) | 2.0M | Sep 30, 2023 |
| + A2024 Pre Funded Warrants (if exercised) | 1.6M | Mar 31, 2024 |
| + Hercules Warrant Tranche One (if exercised) | 14,899 | May 31, 2022 |
| + Hercules Warrant Tranche Two (if exercised) | 4,555 | May 31, 2022 |
| Fully diluted estimate | 26.7M | +15.7% vs O/S |
Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.
Registrations and offerings
Last 12 months: 0 executed · 0 registered.
Full history and shelf status: offering checker · S-3 shelf checker
Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.
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