Quarterly ResultAug 6, 2026, 07:08 AM
Viridian Therapeutics Q2 Net Loss $127.1M; Lumvoa Launched
AI Summary
Viridian Therapeutics reported its second quarter 2026 financial results, with a net loss of $127.1 million, an increase from $100.7 million in the prior year. The company highlighted the recent FDA approval and immediate launch of Lumvoa for thyroid eye disease, showing strong early commercial momentum. Viridian also reported a robust cash position of $981.5 million and confirmed that its elegrobart BLA submission is on track for Q1 2027, alongside continued pipeline progress for its FcRn and TSHR programs.
Key Highlights
- Lumvoa (veligrotug-vvze) approved by FDA for thyroid eye disease (TED) on June 26, 2026, and immediately launched.
- Cash, cash equivalents, and marketable securities were $981.5 million as of June 30, 2026, up from $762.2 million.
- Net loss for Q2 2026 was $127.1 million, compared to $100.7 million for Q2 2025.
- R&D expenses decreased to $71.6 million in Q2 2026 from $86.6 million in Q2 2025.
- SG&A expenses increased to $55.0 million in Q2 2026 from $20.2 million in Q2 2025 due to commercial build-out.
- Elegrobart BLA submission for TED is on track for Q1 2027.
- TSHR program IND submission anticipated in Q4 2026.
- VRDN-008 Phase 1 healthy volunteer data expected in 2H 2026.
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