The upcoming REVEAL-1 and REVEAL-2 topline data readouts in Q1 and Q2 2026 are critical catalysts. The company's cash runway and path to profitability hinge on approval and commercial success of veligrotug and elegrobart. Monitor regulatory developments around the June 30, 2026 PDUFA date.
Price Chart
Executive Summary
Viridian Therapeutics reported its 2025 financial results and provided updates on its clinical pipeline, including a PDUFA target date of June 30, 2026 for veligrotug in thyroid eye disease (TED), submission of a Marketing Authorization Application (MAA) to the EMA, and advancement of elegrobart into Phase 3 trials. The company reported a net loss of $342.6 million for 2025 but maintained a strong cash position of $874.7 million, projecting funding through profitability if both veligrotug and elegrobart are approved.
Key Financial Metrics
Key Facts
- PDUFA target action date of June 30, 2026 for veligrotug in TED; MAA submitted to EMA in January 2026
- REVEAL-1 and REVEAL-2 Phase 3 topline data for elegrobart expected in Q1 and Q2 2026
- Cash, cash equivalents, and marketable securities were $874.7 million as of December 31, 2025
- Net loss for 2025 was $342.6 million, up from $269.9 million in 2024
- R&D expenses increased to $338.9 million in 2025 from $238.3 million in 2024
- Company expects current business plans to be funded through profitability if both veligrotug and elegrobart are approved
Financial Impact
Net loss increased by $72.7 million year-over-year to $342.6 million, driven by higher R&D and SG&A expenses, but offset by $70 million in license revenue. Cash position increased to $874.7 million.
Risk Factors
- Clinical trial results may not meet expectations, particularly the upcoming REVEAL-1 and REVEAL-2 data readouts
- Regulatory approval of veligrotug is not guaranteed despite Priority Review and Breakthrough Therapy designation
- Commercial execution risk for a first-time launch in mid-2026 if approved
- Continued high R&D and SG&A spending may pressure cash runway if product approvals are delayed
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-073391 |
| Document: d105707d8k.htm | 0001193125-26-073391 |
| Document: 0001193125-26-073391-index-headers.html | 0001193125-26-073391 |
| Document: 0001193125-26-073391-index.html | 0001193125-26-073391 |
| Document: 0001193125-26-073391.txt | 0001193125-26-073391 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 11w ago | 8-K | $22.51 $22.96 | ▲ +2.00% | ▲ +1.40% | $23.34 (+3.69%) |
May 28, 2026 21w ago | 8-K | $17.62 $18.79 | ▲ +6.64% | ▲ +8.43% | $23.34 (+32.46%) |
May 26, 2026 21w ago | 8-K | $17.26 $17.39 | ▲ +0.75% | ▲ +2.65% | $23.34 (+35.23%) |
May 8, 2026 24w ago | 424B5 | $17.20 $16.31 | ▲ +5.17% | ▲ +4.87% | $23.34 (−35.70%) |
May 5, 2026 24w ago | 424B5 | $17.53 $16.35 | ▼ −6.73% | ▼ −9.51% | $23.34 (+33.14%) |
May 5, 2026 24w ago | 8-K | $18.75 $15.87 | ▼ −15.36% | ▼ −20.31% | $23.34 (+24.48%) |
Apr 17, 2026 27w ago | DEFA14A | $14.80 $17.43 | ▲ +17.77% | ▲ +12.40% | $23.34 (+57.70%) |
Feb 26, 2026 34w ago | 8-K | $29.49 $28.20 | ▼ −4.37% | ▲ +2.03% | $23.34 (−20.85%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers