Viridian Therapeutics, Inc.\DE
VRDN evidence brief
What we can confirm
- BioSniper Score:
- 6.2 / 10
- Market Cap:
- $2.41B
- Lead Asset:
- elegrobart (Phase 3)
What it means
What to watch
Prepared research question
What matters most for VRDN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · VRDN
Viridian Therapeutics is a biopharmaceutical company developing best-in-class medicines for autoimmune and rare diseases, with a lead product (veligrotug) approved for thyroid eye disease in June 2026 and a second candidate (elegrobart) in late-stage development.
Key risk: Profitability uncertain
BioSniper Score
Based on 4 of 6 signals
Market Cap
$2.41B
Cash Runway
—
Lead Asset
elegrobart (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate for Viridian Therapeutics, Inc.\DE.
Similar companies
Viridian Therapeutics is a biopharmaceutical company developing best-in-class medicines for autoimmune and rare diseases, with a lead product (veligrotug) approved for thyroid eye disease in June 2026 and a second candidate (elegrobart) in late-stage development.
- Veligrotug (Lumvoa™) received FDA approval in June 2026 for thyroid eye disease under Priority Review [sec_mda · as of 2026-08-06].
- Elegrobart met primary and key secondary endpoints in the REVEAL-2 Phase 3 trial, with a BLA submission planned for Q1 2027 [sec_mda · as of 2026-08-06].
- As of June 30, 2026, the company reported total revenue of $0.3M, net income of -$127.1M, and shareholders' equity of $662.1M [sec].
- Cash and cash equivalents were $176.3M as of March 31, 2026 [sec_mda · as of 2026-05-05].
- The pipeline includes FcRn inhibitors for autoimmune disorders and a TSHR inhibitor program [sec_mda · as of 2026-05-05].
What works
- Veligrotug is FDA-approved and launched in 2026, providing a near-term revenue opportunity [sec_mda · as of 2026-08-06].
- Elegrobart showed statistically significant efficacy in Phase 3 (REVEAL-2) with 50-54% proptosis responder rates vs 15% placebo [sec_mda · as of 2026-08-06].
- The company has built commercial infrastructure for veligrotug, including sales, marketing, and supply chain capabilities [sec_mda · as of 2026-08-06].
- Shareholders' equity of $662.1M as of June 30, 2026 provides a substantial capital base [sec].
What to weigh
- The company has not yet achieved profitability, with a net loss of $127.1M for the six months ended June 30, 2026 [sec].
- Revenue from veligrotug is nascent and dependent on market acceptance; the company may never be profitable [sec_mda · as of 2026-08-06].
- Clinical development is costly and risky; any product candidate may fail or be delayed [sec_mda · as of 2026-08-06].
- Cash and cash equivalents declined from $212.4M to $176.3M in the three months ended March 31, 2026, indicating ongoing cash burn [sec_mda · as of 2026-05-05].
From the filings
Quoted directly from source documents.
Veligrotug was FDA-approved in June 2026
“In June 2026, the FDA approved veligrotug for the treatment of TED under Priority Review.”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2022-11-16 · Phase 3 start for veligrotug (TED) — Initiated a safety, tolerability, and efficacy study of veligrotug in thyroid eye disease.
- 2023-11-01 · Phase 3 start for elegrobart (TED) — Started a randomized, double-masked, placebo-controlled study of elegrobart in chronic TED.
- 2024-01-31 · Phase 3 open-label study start — Open-label study for non-responders from prior veligrotug pivotal studies.
- 2024-05-23 · Phase 3 safety study start — Initiated a randomized, controlled safety and tolerability study of elegrobart.
Risks & what to watch (4)›
Key risks
- Profitability uncertain — Company has never been profitable and may never be; net loss of $127.1M in H1 2026 [sec].
- Cash burn rate — Cash declined $36M in Q1 2026; additional capital may be needed [sec_mda · as of 2026-05-05].
- Market acceptance risk — Revenue from veligrotug depends on establishing sales and gaining marketplace acceptance [sec_mda · as of 2026-08-06].
- Regulatory and clinical risk — Elegrobart BLA and other programs face unpredictable regulatory processes and trial risks [sec_mda · as of 2026-08-06].
What to watch
- Veligrotug launch performance and initial sales revenue in 2026 [sec_mda · as of 2026-08-06].
- Elegrobart BLA submission in Q1 2027 and subsequent FDA review [sec_mda · as of 2026-08-06].
- Cash runway and potential need for additional financing [sec_mda · as of 2026-08-06].
- Progress of FcRn and TSHR inhibitor programs through clinical development [sec_mda · as of 2026-05-05].
Sources: Catalysts · SEC filings · SEC MD&A · Generated October 7, 2026 · How we verify sources →
Run Viridian Therapeutics, Inc.\DE through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available Viridian Therapeutics, Inc.\DE facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.66
Lead: Phase 3
1 candidate
No upcoming catalysts tracked
1 buy · 2 sells (180d)
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
226
Total value held
$2.14B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 15,379,377 | $300.8M |
| blackrock, inc. | 7,831,475 | $153.2M |
| bellevue group ag | 6,726,144 | $131.6M |
| state street corp | 4,672,885 | $91.4M |
| vanguard capital management llc | 4,167,201 | $81.5M |
| fairmount funds management llc | 3,914,458 | $76.6M |
| venrock adviser, llc | 3,882,709 | $75.9M |
| paradigm biocapital advisors lp | 3,148,893 | $61.6M |
| wellington management group llp | 3,078,554 | $60.2M |
| kynam capital management, lp | 2,341,652 | $45.8M |
Showing top 10 of 226 institutional holders of Viridian Therapeutics, Inc.\DE. Open the full 13F history after sign-in.
Short Interest
as of Apr 22, 2026- % of float
- 11.0%
- Days to cover
- 5.3
- Shares short
- 10,843,213
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
VRDN short interestGovernance
Frequently asked questions
What is the AI investment thesis for Viridian Therapeutics, Inc.\DE?
Viridian Therapeutics is a biopharmaceutical company developing best-in-class medicines for autoimmune and rare diseases, with a lead product (veligrotug) approved for thyroid eye disease in June 2026 and a second candidate (elegrobart) in late-stage development.
What is Viridian Therapeutics, Inc.\DE's lead drug candidate?
Viridian Therapeutics, Inc.\DE's most advanced tracked candidate is elegrobart (Phase 3) for Thyroid eye disease (TED).
Who is the CEO of Viridian Therapeutics, Inc.\DE?
Mr. Stephen F. Mahoney J.D., MBA is the chief executive officer of Viridian Therapeutics, Inc.\DE (VRDN).
Where is Viridian Therapeutics, Inc.\DE headquartered?
Viridian Therapeutics, Inc.\DE (VRDN) is headquartered in Waltham, MA, United States.
What therapeutic areas does Viridian Therapeutics, Inc.\DE focus on?
Viridian Therapeutics, Inc.\DE develops therapies across Ophthalmology, Endocrinology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.