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Dec 31, 2023
Viridian Therapeutics Q4 2023 Earnings Report
Viridian Therapeutics reported financial results for Q4 2023 and provided business highlights.
Key Takeaways
Viridian Therapeutics reported a cash balance of $477.4 million as of December 31, 2023. Key milestones include the anticipation of VRDN-001 Phase 3 topline clinical data readouts in mid-year and year-end 2024, and the expected start of the subcutaneous VRDN-003 pivotal program in mid-year 2024.
VRDN-001 Phase 3 THRIVE and THRIVE-2 topline clinical data readouts are expected for mid-year 2024 and year-end 2024, respectively.
Subcutaneous VRDN-003 pivotal program in thyroid eye disease is expected to start mid-year 2024 pending regulatory authority alignment.
VRDN-006 Investigational New Drug Application (IND) submission anticipated by year-end 2024 and VRDN-008 non-human primate data expected in the second half of 2024.
Year-end 2023 cash balance of approximately $477.4 million; in January 2024, raised approximately $150 million in gross proceeds from a public offering which extended the company’s operating runway into the second half of 2026.
Viridian Therapeutics
Viridian Therapeutics
Viridian Therapeutics Revenue by Segment
Revenue by Segment
Collaboration Revenue - related party Revenue
CapyFin.com Forward Guidance
Viridian Therapeutics anticipates key milestones in 2024, including clinical data readouts and regulatory submissions, with sufficient cash to fund operations into the second half of 2026.
Positive Outlook
- VRDN-001 Phase 3 THRIVE topline clinical data readout expected mid-year 2024.
- VRDN-001 Phase 3 THRIVE-2 topline clinical data readout expected year-end 2024.
- Subcutaneous VRDN-003 pivotal program in thyroid eye disease expected to start mid-year 2024.
- VRDN-006 Investigational New Drug Application (IND) submission anticipated by year-end 2024.
- VRDN-008 non-human primate data expected in the second half of 2024.
Challenges Ahead
- Clinical trial outcomes are uncertain and subject to regulatory risks.
- Delays in regulatory alignment may impact the VRDN-003 pivotal program timeline.
- IND submission for VRDN-006 may face unforeseen challenges.
- Non-human primate data for VRDN-008 may not be indicative of human results.
- Future operating results and financial performance are subject to risks and uncertainties.