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Dec 31, 2021
Viridian Therapeutics Q4 2021 Earnings Report
Viridian Therapeutics reported fourth quarter and full year 2021 financial results and provided corporate updates.
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.