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Dec 31, 2024
Viridian Therapeutics Q4 2024 Earnings Report
Viridian Therapeutics reported its financial results for the fourth quarter and full year ended December 31, 2024, highlighting progress in its clinical programs and a strong cash position.
Key Takeaways
Viridian Therapeutics reported a total revenue of $72 thousand for Q4 2024, with a net loss of $79.725 million. The company ended the year with a strong cash position of $717.6 million, providing a cash runway into the second half of 2027. Key advancements were made in their TED and FcRn inhibitor portfolios, including positive phase 3 data for veligrotug.
Positive topline phase 3 data for veligrotug from both THRIVE and THRIVE-2 in patients with active and chronic thyroid eye disease (TED) were reported.
REVEAL-1 and REVEAL-2, phase 3 clinical trials assessing Q4W or Q8W subcutaneous (SC) VRDN-003 in active and chronic TED, are progressing as planned with topline data expected in the first half of 2026.
Proof-of-concept IgG reduction clinical data in healthy volunteers for VRDN-006 are anticipated in the third quarter of 2025.
Viridian's cash position was $717.6 million as of December 31, 2024, providing a cash runway into the second half of 2027.
Revenue by Segment
Forward Guidance
Viridian Therapeutics anticipates continued progress in its clinical programs, with key data readouts and regulatory submissions expected in the coming years. The company's strong cash position is expected to fund operations into the second half of 2027.
Positive Outlook
- BLA submission for veligrotug on track for second half of 2025, with MAA submission expected in the first half of 2026.
- Topline data from REVEAL-1 and REVEAL-2 for VRDN-003 expected in the first half of 2026, with BLA submission planned by year-end 2026.
- Proof-of-concept Phase 1 clinical data for VRDN-006, including IgG reduction data in healthy volunteers, anticipated in Q3 2025.
- Additional preclinical data for VRDN-008 expected in 2025, with an IND submission planned for year-end 2025.
- Cash, cash equivalents, and short-term investments are sufficient to fund operations into the second half of 2027.
Challenges Ahead
- New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties.
- No representations or warranties (expressed or implied) are made about the accuracy of any forward-looking statements.
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