The stock is driven by binary PDUFA risk on June 30, 2026, not by quarterly financials. Traders should monitor for any FDA advisory committee briefing documents or pre-PDUFA news flow. The positive elegrobart data de-risks the pipeline but is a 2027 catalyst.
Price Chart
Executive Summary
Viridian Therapeutics reported Q1 2026 financial results, highlighting a net loss of $104.9M vs $86.9M a year ago, with cash burn reducing reserves to $762.2M from $874.7M at year-end. The key catalyst is the upcoming PDUFA date for veligrotug on June 30, 2026, with the company stating it is launch-ready, and positive phase 3 data for subcutaneous elegrobart supporting a BLA submission in Q1 2027.
Key Financial Metrics
Key Facts
- Net loss for Q1 2026 was $104.9 million, compared to $86.9 million in Q1 2025.
- Cash, cash equivalents, and marketable securities were $762.2 million as of March 31, 2026, down from $874.7 million at December 31, 2025.
- PDUFA target action date for veligrotug in thyroid eye disease (TED) is June 30, 2026; company states it is launch-ready.
- Positive topline data from both REVEAL-1 and REVEAL-2 phase 3 trials for subcutaneous elegrobart; BLA submission planned for Q1 2027.
- R&D expenses were $77.6 million in Q1 2026, roughly flat vs $76.8 million in Q1 2025.
- SG&A expenses increased to $38.7 million from $17.1 million year-over-year, driven by pre-commercial activities for veligrotug.
Financial Impact
Net loss of $104.9M in Q1 2026, cash burn of ~$112.5M from year-end 2025 to Q1 2026.
Risk Factors
- FDA non-approval or Complete Response Letter for veligrotug on June 30 PDUFA date.
- Cash burn rate of ~$112M per quarter may require future capital raise if veligrotug launch is delayed or underwhelming.
- Competition from Amgen's Tepezza (teprotumumab) in the TED market.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-205010 |
| Document: d149508d8k.htm | 0001193125-26-205010 |
| Document: 0001193125-26-205010-index-headers.html | 0001193125-26-205010 |
| Document: 0001193125-26-205010-index.html | 0001193125-26-205010 |
| Document: 0001193125-26-205010.txt | 0001193125-26-205010 |
| 8-K Data (Synthetic) | 0001193125-26-205010 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 11w ago | 8-K | $22.51 $22.96 | ▲ +2.00% | ▲ +1.40% | $24.09 (+7.02%) |
May 28, 2026 21w ago | 8-K | $17.62 $18.79 | ▲ +6.64% | ▲ +8.43% | $24.09 (+36.72%) |
May 26, 2026 22w ago | 8-K | $17.26 $17.39 | ▲ +0.75% | ▲ +2.65% | $24.09 (+39.57%) |
May 8, 2026 24w ago | 424B5 | $17.20 $16.31 | ▲ +5.17% | ▲ +4.87% | $24.09 (−40.06%) |
May 5, 2026 24w ago | 424B5 | $17.53 $16.35 | ▼ −6.73% | ▼ −9.51% | $24.09 (+37.42%) |
May 5, 2026 25w ago | 8-K | $18.75 $15.87 | ▼ −15.36% | ▼ −20.31% | $24.09 (+28.48%) |
Apr 17, 2026 27w ago | DEFA14A | $14.80 $17.43 | ▲ +17.77% | ▲ +12.40% | $24.09 (+62.77%) |
Feb 26, 2026 34w ago | 8-K | $29.49 $28.20 | ▼ −4.37% | ▲ +2.03% | $24.09 (−18.31%) |
US Market Status
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