VRDN Stock Records Biggest Single Day Gains In 45 Months – And It’s Not Just Due To A Better-Than-Feared Q1 Loss

• The therapy delivered proptosis response rates 50% at week 24 for dosing every four weeks, compared with 15% for placebo.
• Viridian is expected to file an application for the therapy with the FDA by the first quarter of 2027.
• Q1 loss came in at $0.90 per share, lower than Wall Street’s estimate of $1.08 per share, according to Fiscal.ai data.

Shares of Viridian Therapeutics (VRDN) jumped more than 35% on Tuesday following strong late-stage results for its thyroid eye disease treatment and a better-than-feared first-quarter loss.

VRDN shares recorded their biggest single-day gain since Aug. 15, 2022.

VRDN’s Elegrobart Shines In Phase 3 Trial

Viridian said that Elegrobart, its Thyroid Eye Disease (TED) therapy, met its primary endpoint in the REVEAL-2 Phase 3 study, highlighting meaningful improvements across key measures in patients with chronic disease.

The therapy delivered proptosis response rates (PRR) of 50% and 54% at week 24 for dosing every four and eight weeks, respectively, compared with 15% for placebo. The PRR is a measure of reduction in eye protrusion.

The drug also showed benefits in reducing double vision, with the four-week group achieving a 61% diplopia response rate versus 38% in the placebo group. Elegrobart was generally well tolerated, with most side effects mild and in line with expectations for its drug class.

Rates of hearing-related issues were low, and no treatment-related serious adverse events were reported. Notably, 91% of patients completed the full course of treatment. A regulatory filing with the U.S. Food and Drug Administration (FDA) remains on track for the first quarter (Q1) of 2027.

VRDN’s Q1 Loss Widens But Tops Estimates

Viridian also reported its Q1 results on Tuesday. While its loss widened to $0.90 per share from $0.87 per share, it beat Wall Street’s estimate of $1.08 per share, according to Fiscal.ai data.

Research and development (R&D) expenses came in at $77.6 million for the quarter, edging up from $76.8 million a year ago, primarily driven by higher manufacturing-related costs.

Viridian also added that its other TED therapy, Veligrotug, is under ‘Priority Review’ by the FDA, with a decision expected by June 30, 2026. The company has completed hiring its field teams and has its supply, manufacturing, and distribution systems ready for the launch.

Retail Sees VRDN’s Therapy Outperforming Amgen’s Tepezza

Retail sentiment on Stocktwits flipped to ‘extremely bullish’ from ‘bearish’ a day earlier, amid ‘high’ message volumes.

One user explained why Elegrobart could see better uptake than Amgen’s Tepezza.

Another user expects the stock to climb to at least $20 by the end of the session. It is currently at $19.

The stock has declined more than 40% so far this year.

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