POWER OF ATTORNEY
The undersigned hereby constitutes and appoints Michael L.
Lawhead and Lisa A. Latham, or any of them signing individually,
the undersigned's true and lawful attorney-in-fact (each, an
"Attorney-in-Fact") to:

(1) complete and execute, for and on behalf of the undersigned,
in the undersigned's capacity as an officer, director and/or
beneficial owner of more than ten percent (10%) of any equity
securities of Madrigal Pharmaceuticals, Inc., a Delaware
corporation (the "Company"), Forms 3, 4 and 5, and Schedules 13D
and 13G, and such other forms and documents, including any
amendments to any of the foregoing, as such Attorney-In-Fact
shall in his or her discretion determine to be required or
advisable pursuant to Section 16(a) and Section 13(d) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act")
and the rules and regulations promulgated thereunder, or any
successor laws and regulations, as a consequence of, or in
respect of, the undersigned's ownership, acquisition or
disposition of securities of the Company;

(2) do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete and
execute any such forms and schedules, including any amendments
thereto, and timely file such forms and schedules, including any
amendments thereto, with the United States Securities and
Exchange Commission (the "SEC"), and any securities exchange or
similar authority; and

(3) take any other action of any type whatsoever in connection
with the foregoing which, in the opinion of such Attorney-in-
Fact, may be of benefit to, in the best interest of, or legally
required by, the undersigned, it being understood that the
documents executed by such Attorney-in-Fact on behalf of the
undersigned pursuant to this Power of Attorney shall be in such
form and shall contain such information as such Attorney-in-Fact
may approve in such Attorney-in-Fact's discretion.

The undersigned hereby grants to each such Attorney-in-Fact full
power and authority to do and perform each and every act and
thing whatsoever requisite, necessary or proper to be done in the
exercise of any of the rights and powers herein granted, as fully
to all intents and purposes as the undersigned might or could do
if personally present, with full power of substitution and
revocation, hereby ratifying and confirming all that each such
Attorney-in-Fact, or each such Attorney-in-Fact's substitute or
substitutes, shall lawfully do or cause to be done by virtue of
this power of attorney and the rights and powers herein granted.
The undersigned acknowledges that each of the foregoing
Attorneys-in-Fact, in serving in such capacity at the request of
the undersigned, are not assuming, nor is the Company assuming,
any of the undersigned's responsibilities to comply with Section
16(a) and Section 13(d) of the Exchange Act.

The undersigned agrees that each such Attorney-in-Fact may rely
entirely on information furnished orally or in writing by the
undersigned to each such Attorney-in-Fact.  The undersigned also
agrees to indemnify and hold harmless the Company and each such
Attorney-in-Fact against any losses, claims, damages or
liabilities (or actions in these respects) that arise out of or
are based on any untrue statement or omission of necessary facts
in the information provided by the undersigned to such Attorney-
in-Fact for purposes of executing, acknowledging, delivering and
filing Forms 3, 4 and 5, and Schedules 13D and 13G, including any
amendments thereto, and agrees to reimburse the Company and each
such Attorney-in-Fact for any legal or other expenses reasonably
incurred in connection with investigating or defending against
any such loss, claim, damage, liability or action.

This Power of Attorney shall remain in full force and effect
until the undersigned is no longer required to file Forms 3, 4
and 5, or Schedules 13D and 13G, with respect to the
undersigned's holdings of and transactions in securities issued
by the Company, unless earlier revoked by the undersigned in a
signed writing delivered to the foregoing Attorneys-in-Fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of
Attorney to be executed as of this 24th day of October, 2016.

/s/ Fred Craves
__________________
Fred Craves, Ph.D.