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: John George Source Type: news
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