Viridian Therapeutics Q4 2021 Earnings Report
Key Takeaways
Viridian Therapeutics reported its Q4 2021 financial results, with a net loss of $28.9 million. The company's cash and investments totaled $197 million, expected to fund operations into 2024. The company is advancing its pipeline of therapeutic candidates for thyroid eye disease.
Phase 1/2 clinical trial for VRDN-001 is on track to report top line proof of concept data in Q2 2022.
VRDN-002 is expected to deliver top line Phase 1 clinical data in mid-2022.
The company has a strong cash and investment position of $197 million, expected to fund operations into 2024.
Net loss for the quarter was $28.9 million.
Viridian Therapeutics
Viridian Therapeutics
Forward Guidance
Viridian Therapeutics anticipates a transformational year in 2022 with key milestones expected, including data readouts from Phase 1/2 trial for VRDN-001 and Phase 1 trial for VRDN-002.
Positive Outlook
- Top line data from Phase 1/2 proof of concept trial for VRDN-001 expected in Q2 2022.
- Top line data from Phase 1 trial for VRDN-002 expected in mid-2022.
- Data from both trials will guide later stage development plans for VRDN-001 and VRDN-002.
- Advancement of pipeline beyond IGF-1R and TED.
- Focus on validated mechanisms and technologies to bring new therapeutic options to patients.
Challenges Ahead
- Uncertainty and potential delays related to clinical drug development.
- Duration and impact of regulatory delays in clinical programs.
- Manufacturing risks.
- Competition from other therapies or products.
- Potential effects from the COVID-19 pandemic on the company’s research, development, and business activities.