\nViridian Therapeutics, Inc. (Nasdaq: VRDN), a biotechnology company focused on discovering, developing, and commercializing potentially best-in-class medicines for autoimmune and rare diseases, today reported recent business highlights and financial results for the first quarter ended March 31, 2026.<\/p>\n
\n\u201cOur team continues its strong execution across our portfolio as we are launch ready ahead of veligrotug\u2019s PDUFA target date. We delivered positive topline data from both of elegrobart\u2019s pivotal REVEAL phase 3 clinical trials, and earlier programs are moving ahead as planned,” said Steve Mahoney, President and Chief Executive Officer of Viridian Therapeutics. “With veligrotug\u2019s PDUFA target date next month, we have hired and deployed our full field teams, readied commercial supply and supply chain infrastructure, and continue to engage physicians, payers, and key opinion leaders. We believe we are well-prepared and well-positioned to deliver a successful launch. With the positive topline data from REVEAL-1 and REVEAL-2, in active and chronic TED, respectively, we believe that subcutaneous elegrobart has the potential to be the simplest and most convenient treatment for TED.\u201d<\/p>\n
Recent Business Highlights<\/span><\/b><\/p>\n TED PORTFOLIO<\/b><\/p>\n FCRN INHIBITOR PORTFOLIO<\/b><\/p>\n Financial Results<\/span><\/strong><\/p>\n Upcoming Investor Conferences<\/span><\/strong><\/p>\n \nViridian will participate in the following upcoming investor conferences. Live webcasts of the presentations can be accessed under \u201cEvents and Presentations\u201d on the Investors section of the Viridian website at viridiantherapeutics.com<\/a>. Replays of the webcasts will be available following each event.<\/p>\n About Viridian Therapeutics<\/span><\/b><\/p>\n \nViridian is a biotechnology company focused on discovering, developing, and commercializing potential best-in-class medicines for patients with autoimmune and rare diseases. Viridian\u2019s expertise in antibody discovery and protein engineering enables the development of differentiated therapeutic candidates for validated drug targets and disease-driving mechanisms in autoimmune and rare diseases.<\/p>\n \nViridian is advancing multiple late-stage, anti-insulin-like growth factor-1 receptor (IGF-1R) candidates in the clinic for the treatment of patients with thyroid eye disease (TED). The company conducted a pivotal program for veligrotug, including two global phase 3 clinical trials, THRIVE and THRIVE-2, to evaluate its efficacy and safety in patients with active and chronic TED. THRIVE and THRIVE-2 reported positive topline data, meeting their primary endpoints and all secondary endpoints. Viridian is also advancing elegrobart as the potential first subcutaneous autoinjector for the treatment of TED. Viridian is conducting an ongoing pivotal program for elegrobart, including two global phase 3 pivotal clinical trials, REVEAL-1 and REVEAL-2, to evaluate the efficacy and safety of elegrobart in patients with active and chronic TED. REVEAL-1 and REVEAL-2 reported positive topline data, meeting their primary endpoints and multiple secondary endpoints.<\/p>\n \nIn addition to its IGF-1R inhibitor portfolio, Viridian is developing an anti\u2013thyroid-stimulating hormone receptor (TSHR) program designed as a potential therapy for TED and Graves\u2019 disease.<\/p>\n \nViridian is also advancing a novel portfolio of neonatal Fc receptor (FcRn) inhibitors, including VRDN-006 and VRDN-008, which have the potential to be developed in multiple autoimmune diseases.<\/p>\n \nViridian is based in Waltham, Massachusetts. For more information, please visit www.viridiantherapeutics.com<\/a>. Follow Viridian on LinkedIn<\/a> and X<\/a>.<\/p>\n Forward Looking Statements<\/span><\/b><\/p>\n \nThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of words such as, but not limited to, \u201canticipate,\u201d \u201cbelieve,\u201d \u201cbecome,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cdesign,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201con track,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwill,\u201d or \u201cwould\u201d or other similar terms or expressions that concern our expectations, plans and intentions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. Forward-looking statements include, without limitation, statements regarding: preclinical development, clinical development, and anticipated commercialization of Viridian\u2019s product candidates veligrotug, elegrobart, VRDN-006, and VRDN-008, including the VRDN-008 phase 1 clinical trial; anticipated data results and timing of their disclosure, including data from the VRDN-008 phase 1 clinical trial; Viridian\u2019s expectations regarding the anticipated timing or likelihood of regulatory submissions and approvals, including the anticipated approval of the BLA and MAA for veligrotug, submission of a BLA for elegrobart in Q1 2027, and submission of an IND for the Company\u2019s TSHR program in Q4 2026; the impact of Breakthrough Therapy Designation, and the impact of Priority Review, including the potential commercial launch of veligrotug, if approved; the potential utility, efficacy, potency, safety, clinical benefits, clinical response, convenience, and number of indications of veligrotug, elegrobart, VRDN-006, and VRDN-008; elegrobart\u2019s potential to be the first subcutaneous therapy for the treatment of TED; the Company\u2019s anticipated development plans for VRDN-006 to be announced in 2026; potential disease indications for the Company\u2019s TSHR program; and Viridian\u2019s product candidates potentially being best-in-class.<\/p>\n \nNew 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 such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to: potential utility, efficacy, potency, safety, clinical benefits, clinical response, and convenience of Viridian\u2019s product candidates; that results or data from completed or ongoing clinical trials may not be representative of the results of ongoing or future clinical trials; that preliminary data may not be representative of final data; the timing, progress and plans for our ongoing or future research, preclinical, and clinical development programs; changes to trial protocols for ongoing or new clinical trials; expectations and changes regarding the timing for regulatory filings; regulatory interactions; expectations and changes regarding the timing for enrollment and data; uncertainty and potential delays related to clinical drug development; the duration and impact of regulatory delays in our clinical programs; the timing of and our ability to obtain and maintain regulatory approvals for our therapeutic candidates, including as a result of disruptions at the FDA and other agencies caused by shutdowns, funding shortages, and policies pursued by the current U.S. administration; manufacturing risks; competition from other therapies or products; estimates of market size; other matters that could affect the sufficiency of existing cash, cash equivalents, and short-term investments to fund operations; our financial position; our future operating results and financial performance; Viridian\u2019s intellectual property position; the timing of preclinical and clinical trial activities and reporting results from same; that our product candidates may not be commercially successful, if approved; and other risks described from time to time in the \u201cRisk Factors\u201d section of our filings with the Securities and Exchange Commission (SEC), including those described in our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as applicable, and supplemented from time to time by our Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it was made. Neither the company, nor its affiliates, advisors, or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the company\u2019s views as of any date subsequent to the date hereof.<\/p>\n 2026<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 135<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 72<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 141<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 72<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 77,631<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 76,835<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 38,679<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,103<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 116,310<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 93,938<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0 (116,169<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (93,866<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,268<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,954<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0 (104,901<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0 (86,912<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0 (92,026<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0 (70,688<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.90<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.87<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0102,211,657<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0 81,344,134<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8,095<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (7,814<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (60.02<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (57.94<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 134,864<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 134,864<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (4,779<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8,410<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (60.02<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (57.94<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 79,620<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 145,160<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n 2026<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 762,181<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0 874,652<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,836<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24,766<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 789,017<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0 899,418<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 153,009<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 177,251<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 636,008<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 722,167<\/p>\n<\/td>\n<\/tr>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 789,017<\/p>\n<\/td>\n \n\u00a0$<\/p>\n<\/td>\n \n\u00a0\u00a0\u00a0\u00a0\u00a0 899,418<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260505135001\/en\/<\/a><\/span><\/p>\n Investors Media KEYWORDS:<\/b> Massachusetts New York Florida United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Biotechnology Health Pharmaceutical Optical Clinical Trials<\/p>\n\n
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\n Viridian Therapeutics, Inc.
Condensed Consolidated Statements Of Operations
(In thousands, except share and per share data)
(Unaudited)<\/b><\/td>\n<\/tr>\n\n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n March 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n Revenues:<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n License revenue<\/td>\n \n \n \n \n \n \n \n \n Collaboration revenue – related parties<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Total revenues<\/td>\n \n \n \n \n \n \n \n \n Operating expenses:<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Research and development<\/td>\n \n \n \n \n \n \n \n \n Selling, general and administrative<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Total operating expenses<\/td>\n \n \n \n \n \n \n \n \n Loss from operations<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Total other income, net<\/td>\n \n \n \n \n \n \n \n \n Net loss<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net loss allocated to common stock<\/td>\n \n \n \n \n \n \n \n \n Net loss per share, basic and diluted, common stock<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Weighted-average common shares outstanding, basic and diluted<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Net loss allocated to Series A convertible preferred stock<\/td>\n \n \n \n \n \n \n \n \n Net loss per share, basic and diluted, Series A convertible preferred stock<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Weighted-average Series A convertible preferred stock outstanding, basic and diluted<\/td>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Net loss allocated to Series B convertible preferred stock<\/td>\n \n \n \n \n \n \n \n \n Net loss per share, basic and diluted, Series B convertible preferred stock<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Weighted-average Series B convertible preferred stock outstanding, basic and diluted<\/td>\n \n \n \n \n \n \n \n \n
\n Viridian Therapeutics, Inc.
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)<\/b><\/td>\n<\/tr>\n\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n March 31,<\/b><\/td>\n \n December 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash, cash equivalents and marketable securities<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n Total assets<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n Total stockholders\u2019 equity<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Total liabilities and stockholders\u2019 equity<\/td>\n \n \n \n \n \n <\/p>\n
\n<\/b>
Greg Rossino
\n
grossino@viridiantherapeutics.com
\n<\/a><\/p>\n
\n<\/b>
Lisa Lopez
\n
llopez@viridiantherapeutics.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260505135001\/en\/2003056\/3\/Viridian_Logo_-_Jan.jpg\"){kind=logo}
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