# EDGAR Filing Document

**Accession Number:** 0001263508
**File Stem:** 0000950170-25-110502
**Filing Date:** 2025-8
**Character Count:** 27049
**Document Hash:** 2c3f631b0a5a8fc83e18a085674bc216
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-110502.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0000950170-25-110502

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250818

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** BAKER JULIAN
- **CENTRAL INDEX KEY:** 0001087939

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33277
- **FILM NUMBER:** 251237983

**MAIL ADDRESS:**
- **STREET 1:** BAKER BROS. ADVISORS LP
- **STREET 2:** 860 WASHINGTON STREET 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** BAKER FELIX
- **CENTRAL INDEX KEY:** 0001087940

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33277
- **FILM NUMBER:** 251237984

**MAIL ADDRESS:**
- **STREET 1:** BAKER BROS. ADVISORS LP
- **STREET 2:** 860 WASHINGTON STREET 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** BAKER BROS. ADVISORS LP
- **CENTRAL INDEX KEY:** 0001263508

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33277
- **FILM NUMBER:** 251237986

**BUSINESS ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
- **BUSINESS PHONE:** 2123395600

**MAIL ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014

**FORMER NAME:**
- **FORMER CONFORMED NAME:** BAKER BROS ADVISORS LLC
- **DATE OF NAME CHANGE:** 20030911
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Baker Bros. Advisors (GP) LLC
- **CENTRAL INDEX KEY:** 0001580575

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33277
- **FILM NUMBER:** 251237985

**BUSINESS ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
- **BUSINESS PHONE:** (212)339-5600

**MAIL ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Baker Brothers Life Sciences LP
- **CENTRAL INDEX KEY:** 0001363364

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33277
- **FILM NUMBER:** 251237981

**BUSINESS ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
- **BUSINESS PHONE:** 212-339-5600

**MAIL ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** 667, L.P.
- **CENTRAL INDEX KEY:** 0001551139

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33277
- **FILM NUMBER:** 251237982

**BUSINESS ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
- **BUSINESS PHONE:** 212-339-5600

**MAIL ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MADRIGAL PHARMACEUTICALS, INC.
- **CENTRAL INDEX KEY:** 0001157601
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 200 BARR HARBOR DRIVE, SUITE 400
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 404-380-9263

**MAIL ADDRESS:**
- **STREET 1:** 200 BARR HARBOR DRIVE, SUITE 400
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SYNTA PHARMACEUTICALS CORP
- **DATE OF NAME CHANGE:** 20010815

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>BAKER BROS. ADVISORS LP<br><sub>(Last) (First) (Middle)</sub><br>860 WASHINGTON STREET, 3RD FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10014<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>MADRIGAL PHARMACEUTICALS, INC. [ MDGL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Baker Bros. Advisors (GP) LLC<br><sub>(Last) (First) (Middle)</sub><br>860 WASHINGTON STREET, 3RD FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10014<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>MADRIGAL PHARMACEUTICALS, INC. [ MDGL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>BAKER FELIX<br><sub>(Last) (First) (Middle)</sub><br>860 WASHINGTON STREET, 3RD FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10014<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>MADRIGAL PHARMACEUTICALS, INC. [ MDGL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>BAKER JULIAN<br><sub>(Last) (First) (Middle)</sub><br>860 WASHINGTON STREET, 3RD FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10014<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>MADRIGAL PHARMACEUTICALS, INC. [ MDGL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>667, L.P.<br><sub>(Last) (First) (Middle)</sub><br>860 WASHINGTON STREET, 3RD FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10014<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>MADRIGAL PHARMACEUTICALS, INC. [ MDGL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Baker Brothers Life Sciences LP<br><sub>(Last) (First) (Middle)</sub><br>860 WASHINGTON STREET, 3RD FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10014<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>MADRIGAL PHARMACEUTICALS, INC. [ MDGL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-08-18 |  | P |  | 2460 | A | 372.8693<sup>(1)</sup> | 197085 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-18 |  | P |  | 26704 | A | 372.8693<sup>(1)</sup> | 1885795 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-18 |  | P |  | 675 | A | 374.4338<sup>(15)</sup> | 197760 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-18 |  | P |  | 7325 | A | 374.4338<sup>(15)</sup> | 1893120 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 480 | A | 380.4365<sup>(9)</sup> | 198240 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 5209 | A | 380.4365<sup>(9)</sup> | 1898329 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 176 | A | $380.7800 | 198416 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 1919 | A | $380.7800 | 1900248 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 873 | A | 381.1216<sup>(10)</sup> | 199289 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 9477 | A | 381.1216<sup>(10)</sup> | 1909725 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 105 | A | 382.2891<sup>(11)</sup> | 199394 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 1136 | A | 382.2891<sup>(11)</sup> | 1910861 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 262 | A | 382.8213<sup>(12)</sup> | 199656 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 2838 | A | 382.8213<sup>(12)</sup> | 1913699 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 373 | A | 383.7872<sup>(13)</sup> | 200029 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 4049 | A | 383.7872<sup>(13)</sup> | 1917748 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 1248 | A | 385.0573<sup>(14)</sup> | 201277 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 13545 | A | 385.0573<sup>(14)</sup> | 1931293 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 409 | A | 387.0680<sup>(16)</sup> | 201686 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 4441 | A | 387.0680<sup>(16)</sup> | 1935734 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 34 | A | $389 | 201720 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 366 | A | $389 | 1936100 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 231 | A | 389.8878<sup>(17)</sup> | 201951 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 2506 | A | 389.8878<sup>(17)</sup> | 1938606 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 862 | A | 392.2429<sup>(18)</sup> | 202813 | I | See Footnotes<sup>(2)(3)(4)(5)(6)(7)</sup> |
| Common Stock | 2025-08-20 |  | P |  | 9362 | A | 392.2429<sup>(18)</sup> | 1947968 | I | See Footnotes<sup>(3)(4)(5)(6)(7)(8)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) 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.

(2) After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in Common Stock reported in column 5 of Table I held directly by or held for the benefit of 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.

(3) Baker Bros. Advisors LP (the "Adviser") serves as the investment adviser to the Funds. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held directly by the Funds or for the benefit of the Funds. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretionand authority with respect to the investment and voting power of the securities held directly by the Funds or for the benefit of the Funds. The general partners of the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held directly by the Funds or for the benefit of the Funds.

(4) Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by or held for the benefit of the Funds except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the Adviser GP or the Adviser is a beneficial owner of such securities for purposes of Section 16 or any other purpose.

(5) Includes beneficial ownership of 3,825 shares of Common Stock received from vested restricted stock units of the Issuer (each an "RSU") each previously granted to Julian C. Baker and Dr. Raymond Cheong in their capacity as directors of the Issuer.

(6) Pursuant to the policies of the Adviser, the Adviser has voting and dispositive power over the non-qualified stock options exercisable solely into Common Stock ("Stock Options"), RSUs and any Common Stock received as a result of the exercise of Stock Options or vesting of RSUs.

(7) Pursuant to the policies of the Adviser, Julian C. Baker and Dr. Cheong do not have a right to any of the Issuer's securities issued as compensation for their service on the Board and the Funds are entitled to an indirect proportionate pecuniary interest in such securities. The Funds each own an indirect proportionate pecuniary interest in the Stock Options and RSUs. Solely as a result of their ownership interest in (i) the general partners of the Funds and (ii) the Funds, Felix J. Baker and Julian C. Baker may be deemed to have an indirect pecuniary interest in the Stock Options, RSUs and any Common Stock acquired upon the exercise of Stock Options or vesting of RSUs (i.e. no direct pecuniary interest) issued as compensation for such service on the board of directors of the Issuer.

(8) After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Brothers Life Sciences Capital, L.P. and (ii) Life Sciences, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in Common Stock reported in column 5 of Table I held directly by or held for the benefit of Life Sciences, a limited partnership of which the sole generalpartner is Baker Brothers Life Sciences Capital, L.P., a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital (GP), LLC, due to their interest in Life Sciences and Baker Brothers Life Sciences Capital, L.P.'s right to receive an allocation of a portion of the profits from Life Sciences.

(9) 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.

(10) 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.

(11) 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.

(12) 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.

(13) 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.

(14) 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.

(15) 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.

(16) 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 thisfootnote.

(17) 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 thisfootnote.

(18) 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 thisfootnote.

**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 arethus filing these two Forms 4.

**Signature:** By: Baker Bros. Advisors LP, Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing  
**Date:** 2025-08-20

**Signature:** By: Baker Bros. Advisors (GP) LLC, Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing  
**Date:** 2025-08-20

**Signature:** /s/ Felix J. Baker  
**Date:** 2025-08-20

**Signature:** /s/ Julian C. Baker  
**Date:** 2025-08-20

**Signature:** Baker Bros. Advisors LP, Mgmt. Co. and Inv. Adviser to 667, L.P., pursuant to authority granted by Baker Biotech Capital, L.P., GP to 667, L.P. Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing  
**Date:** 2025-08-20

**Signature:** Baker Bros. Advisors LP, Mgmt. Co. and Inv. Adviser to BAKER BROTHERS LIFE SCIENCES, L.P., pursuant to authority granted by Baker Brothers Life Sciences Capital, L.P., GP to Baker Brothers Life Sciences, L.P., /s/ Name: Scott L. Lessing, Title: President  
**Date:** 2025-08-20

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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