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Security Profile
- Security Type
- Common Stock
- CUSIP
- 558868105 (prev. 87162T206 )
- Market Cap
- Large Cap · $2 Billion
- IPO
- 2/6/2007 · $10.00/share
- Previous Symbol
- SNTA (changed 7/22/2016)
- Previous Name
- Synta Pharmaceuticals Corp.
Business: Madrigal Pharmaceuticals, Inc. is developing novel, high-quality small-molecule drugs addressing major unmet needs in cardiovascular and metabolic diseases. The Company is targeting treatment of both niche and prevalent indications, including diabetes, dyslipidemia and cardiovascular disease.
Notes: July 22, 2016 -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a clinical-stage biopharmaceutical company announced the completion of its merger with Synta Pharmaceuticals Corp. (NASDAQ:SNTA). On July 22, 2016, prior to the closing of the merger, Synta completed a one-for-35 reverse stock split. As a result of the reverse stock split, every 35 shares of Synta common stock outstanding immediately prior to the merger were combined and reclassified into one share of Synta common stock. The holders of shares of Madrigal common stock outstanding immediately prior to the merger received 0.1593 shares of Synta common stock in exchange for each share of Madrigal common stock in the merger. The exchange ratio reflects the one-for-35 reverse stock split. Following the reverse stock split and the merger, the combined company has approximately 11.3 million shares outstanding. In connection with the merger, Synta changed its name to Madrigal Pharmaceuticals, Inc. The combined company will commence trading on a post-reverse stock split basis upon the opening of trading on July 25, 2016 on the NASDAQ Global Market under the symbol MDGL.
Company Contact
- CEO
- Paul A. Friedman
- CFO
- Marc R. Schneebaum
- Headquarters
- 200 Barr Harbor Drive, Suite 200
West Conshohocken, PA 19428
- Phone
- 267-824-2827
- Investor Relations
- Rebecca Taub · 781-274-8200 · becky@madrigalpharma.com