CONSHOHOCKEN, PA — Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) granted equity awards to seven newly hired non-executive employees as inducement awards under its 2025 Inducement Plan, the company announced.
The awards, approved by the company’s independent Compensation Committee, were issued in accordance with Nasdaq Listing Rule 5635(c)(4), which permits equity grants as an incentive for new employees.
In total, the employees received 1,739 time-based restricted stock units.
The restricted stock units will vest in four equal installments on each of the first four anniversaries of the grant date, subject to continued employment.
The company said the awards were granted as a material inducement for the employees to join Madrigal.
Madrigal Pharmaceuticals is a biopharmaceutical company focused on developing treatments for metabolic dysfunction-associated steatohepatitis, a liver disease.
Its therapy, Rezdiffra (resmetirom), is approved by the U.S. Food and Drug Administration and the European Commission for the treatment of MASH with moderate to advanced fibrosis.
The company is also conducting a Phase 3 outcomes trial evaluating the therapy for compensated MASH cirrhosis.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.