Madrigal Pharmaceuticals investor selling large chunk of its stake

Investment funds affiliated with San Francisco-based Bay City Capital are selling about a quarter of their stake in Madrigal Pharmaceuticals, a West Conshohocken biopharmaceutical company developing treatment for cardiovascular, metabolic, and liver diseases. The investment funds, according to federal documents, expect to make $129.4 million by selling 1.2 million shares of Madrigal common stock at $107.85 per share. The secondary offering is set to close Dec. 13. The Bay City Capital affiliates…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news