Nucor earnings beat by $0.08, revenue fell short of estimates
Investing.com -- Viridian Therapeutics, Inc. (NASDAQ:VRDN) reported a narrower-than-expected first quarter loss on Tuesday, but shares fell 4.5% as investors focused on the company’s ongoing clinical trials and cash burn.
The biotechnology company, which is developing treatments for thyroid eye disease and other autoimmune disorders, posted a Q1 loss of $0.87 per share, beating analyst estimates for a $0.98 per share loss. Revenue came in at $70,000, topping expectations of $52,090.
Viridian’s lead candidate veligrotug remains on track for a Biologics License Application submission in the second half of 2025, with a potential U.S. launch in 2026 if approved. The company is also advancing VRDN-003 in phase 3 trials for thyroid eye disease, with topline data expected in the first half of 2026.
"We continue to execute across the portfolio as we work towards submitting the veligrotug BLA in the second half of 2025," said Steve Mahoney, Viridian’s President and CEO.
Research and development expenses rose to $76.8 million in Q1, up from $40.9 million a year ago, as the company ramped up clinical trial activity. Viridian ended the quarter with $636.6 million in cash and investments, which it believes will fund operations into the second half of 2027.
The company also announced the appointment of Jeff Ajer, former Chief Commercial Officer of BioMarin, to its Board of Directors as it prepares for a potential commercial launch.
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