Living dossier · Competitive landscape

Thyroid hormone receptor beta in Metabolic dysfunction-associated steatohepatitis

Primary identifiers
13
Sponsors tracked
9
Evidence types
2 of 3
Last refreshed
2026-07-28 · monthly

MightyRayn panel synthesis

OmniRayn’s reading of this landscape — our interpretation, not a registry fact

This is the target that broke the drought — the first approved therapeutic in a disease that had none — and the useful reading is what the approval did NOT settle. The pivotal 52-week trial reported disease resolution in roughly 26 to 30 percent of treated patients against 9.7 percent on placebo, and fibrosis improvement in about 24 to 26 percent against 14.2 percent. Both are real and both are significant. They also mean that around seven in ten treated patients did not achieve resolution, and that the fibrosis margin over placebo is roughly ten percentage points. The liver-related OUTCOMES trial that would turn a biopsy endpoint into a clinical one is still running. The competitive structure is unusual. One sponsor holds the approval and is now spending on adjacent populations — cirrhosis, post-liver-transplant recurrence, post-approval use outside the registrational geography — while three separate challengers pursue the same receptor, and the newest of them enters with a COMBINATION hypothesis rather than monotherapy. That is what a field looks like when the first drug is believed to be necessary but not sufficient. One caution the trial records will not give you: the review literature names the scale of PLACEBO RESPONSES as an open problem in this disease, and the placebo arms across the trials on this page and our FGF21 landscape range from about 10 to 20 percent on comparable endpoints. When the placebo response moves that much between studies, cross-trial comparison of the active arms is unsafe — which is precisely the trap in the indirect ranking discussed on the FGF21 page.

Programs and primary evidence

SponsorAssetPhaseMechanismPrimary source
Madrigal PharmaceuticalsResmetirom (MAESTRO-NASH)3oral liver-directed thyroid hormone receptor beta-selective agonist
  • NCT03900429Registrational Phase 3 in biopsy-confirmed MASH with fibrosis, n=1759 across 247 sites — the trial behind the first approval in this disease
Madrigal PharmaceuticalsResmetirom (MAESTRO-NASH-OUTCOMES)3same agonist moved from histology to liver-related clinical events
  • NCT05500222Liver-related OUTCOMES trial in well-compensated cirrhosis, n=845 — the study that would convert a biopsy endpoint into a clinical one. Not yet read out
Madrigal PharmaceuticalsResmetirom (MAESTRO-NAFLD-1)3safety and biomarker study without mandated biopsy
  • NCT0419747952-week Phase 3 in NAFLD, n=1343. CAVEAT: biomarker and safety endpoints, not histological efficacy — it does not on its own establish benefit
Madrigal PharmaceuticalsMGL-3196 (Phase 2)2first controlled test of the agonist in this disease
  • NCT02912260Placebo-controlled Phase 2, n=125 — the origin point of the programme, nine years before the Phase 3 outcomes study reads out
Terns PharmaceuticalsTERN-501 (+/- TERN-101)2oral agonist tested alone and combined with an FXR agonist
  • NCT05415722Phase 2a in noncirrhotic presumed MASH, n=162. CAVEAT: PRESUMED rather than biopsy-confirmed MASH — a materially weaker entry criterion
Viking TherapeuticsVK2809 (VOYAGE)2liver-selective agonist prodrug
  • NCT0417306552-week Phase 2b in biopsy-proven MASH with fibrosis, n=248, followed by a 4-week off-drug phase to test whether effect persists after withdrawal
EccogeneECC4703 (+/- SSAO inhibitor ECC0509)2agonist paired with a semicarbazide-sensitive amine oxidase inhibitor
  • NCT07288138Phase 2a testing the agonist, the SSAO inhibitor and their combination, n=160 — a newer entrant arriving with a combination hypothesis rather than monotherapy
Nabiqasim IndustriesResmetirom (post-approval, Pakistan)4post-approval evaluation outside the registrational geography
  • NCT07249788Phase 4 in MASH, n=165. CAVEATS: OPEN-LABEL with no control arm, and single-centre in one country — it cannot separate drug effect from natural history
Madrigal PharmaceuticalsResmetirom (post-liver-transplant)2recurrent disease in the transplanted liver
  • NCT07335601Phase 2 in patients who have undergone liver transplant for MASH cirrhosis or other causes, n=120 — the label being extended into a population the pivotal trial excluded
University of OxfordMAESTRO-NASH report (NEJM)52-week histological readout of the agonist
  • 10.1056/NEJMoa2309000Reports MASH resolution in 25.9% (80mg) and 29.9% (100mg) vs 9.7% placebo, and fibrosis improvement in 24.2% and 25.9% vs 14.2% placebo, both p<0.001. CARRY THE OTHER SIDE: roughly 70% of treated patients did NOT achieve resolution, the fibrosis delta over placebo is about 10-11 percentage points, and diarrhoea and nausea were more frequent than with placebo
Yale School of Medicinereview (Nat Rev Drug Discov)liver-directed agents versus systemic metabolic agents
  • 10.1038/s41573-024-01084-2Notes resmetirom is the FIRST approved therapeutic in this disease, and states there is still much to learn — naming the scale of PLACEBO RESPONSES, optimal trial endpoints, and the time required for fibrosis reversal as open questions
Sorbonne Université (ICAN)review (J Hepatol)reduced intrahepatic thyroid hormone signalling as the rationale
  • 10.1016/j.jhep.2024.10.018Establishes the mechanistic premise — in steatotic liver disease intracellular thyroid hormone concentrations are low and receptor activation is reduced, which is what a liver-directed agonist is intended to restore
Kasturba Medical College, Manipalmeta-analysis (Sci Rep)pooled estimate across randomised trials of the agonist
  • 10.1038/s41598-024-70242-8Systematic review and meta-analysis of the agonist in steatotic liver disease. CAVEAT: pooled across trials of differing design and endpoints — an aggregate estimate, not a substitute for the individual outcome trial still running

Method and limits

Want the analysis behind this landscape?

The public page is the map. The full dossier adds differentiation analysis, kill-tests and the whitespace read for this target — the parts we do not publish.