Baker Julian's Form 4 filing
Madrigal Pharmaceuticals, Inc. (MDGL) ยท filed Aug 20, 2025
- Accession no.
- 0000950170-25-110502
- Filed
- Aug 20, 2025, 6:12 PM ET
- Trade date
- Aug 18-20, 2025
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not checked
This filing lists 26 non-derivative transactions. Open-market purchases total $36.9M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Baker JulianCIK 0001087939 | Director |
| Baker FelixCIK 0001087940 | Director |
| Baker Bros. Advisors LPCIK 0001263508 | Director |
| Baker Brothers Life Sciences LPCIK 0001363364 | Director |
| 667, L.P.CIK 0001551139 | Director |
| Baker Bros. Advisors (GP) LLCCIK 0001580575 | Director |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Aug 18, 2025 | Common Stock | PPurchaseAcquired | +2,460 | $372.87F1 | +$917,258.48 | 197,085 | Indirect | |
| Aug 18, 2025 | Common Stock | PPurchaseAcquired | +26,704 | $372.87F1 | +$9,957,101.79 | 1,885,795 | Indirect | |
| Aug 18, 2025 | Common Stock | PPurchaseAcquired | +675 | $374.43F15 | +$252,742.82 | 197,760 | Indirect | |
| Aug 18, 2025 | Common Stock | PPurchaseAcquired | +7,325 | $374.43F15 | +$2,742,727.59 | 1,893,120 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +480 | $380.44F9 | +$182,609.52 | 198,240 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +5,209 | $380.44F9 | +$1,981,693.73 | 1,898,329 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +176 | $380.78 | +$67,017.28 | 198,416 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +1,919 | $380.78 | +$730,716.82 | 1,900,248 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +873 | $381.12F10 | +$332,719.16 | 199,289 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +9,477 | $381.12F10 | +$3,611,889.4 | 1,909,725 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +105 | $382.29F11 | +$40,140.36 | 199,394 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +1,136 | $382.29F11 | +$434,280.42 | 1,910,861 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +262 | $382.82F12 | +$100,299.18 | 199,656 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +2,838 | $382.82F12 | +$1,086,446.85 | 1,913,699 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +373 | $383.79F13 | +$143,152.63 | 200,029 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +4,049 | $383.79F13 | +$1,553,954.37 | 1,917,748 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +1,248 | $385.06F14 | +$480,551.51 | 201,277 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +13,545 | $385.06F14 | +$5,215,601.13 | 1,931,293 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +409 | $387.07F16 | +$158,310.81 | 201,686 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +4,441 | $387.07F16 | +$1,718,968.99 | 1,935,734 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +34 | $389.00 | +$13,226 | 201,720 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +366 | $389.00 | +$142,374 | 1,936,100 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +231 | $389.89F17 | +$90,064.08 | 201,951 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +2,506 | $389.89F17 | +$977,058.83 | 1,938,606 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +862 | $392.24F18 | +$338,113.38 | 202,813 | Indirect | |
| Aug 20, 2025 | Common Stock | PPurchaseAcquired | +9,362 | $392.24F18 | +$3,672,178.03 | 1,947,968 | Indirect |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
The price reported in Column 4 is a weighted average price. These shares of common stock ("Common Stock") of Madrigal Pharmaceuticals, Inc. (the "Issuer") were traded by 667, L.P. ("667") and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds") in multiple transactions at prices ranging from $372.59 to $373.54, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "Staff"), upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F9
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $380.03 to $380.84, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F10
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $380.98 to $381.94, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F11
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $382.00 to $382.36, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F12
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $382.20 to $383.00, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F13
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $383.42 to $384.00, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F14
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $385.00 to $385.95, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F15
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $374.09 to $374.67, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F16
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $387.00 to $387.17, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F17
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $389.44 to $390.00, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
- F18
The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $391.69 to $392.57, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
Remarks
Julian C. Baker, a managing member of Baker Bros. Advisors (GP) LLC, and Dr. Raymond Cheong, a full-time employee of Baker Bros. Advisors LP, are directors of Madrigal Pharmaceuticals, Inc. (the "Issuer"). By virtue of their representation on the board of directors of the Issuer, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting persons other than Julian C. Baker are deemed directors by deputization of the Issuer. This is the second of two Form 4's reporting changes in beneficial ownership. Due to space limitations in Form 4 we are thus filing these two Forms 4.