Viridian Therapeutics Stock Hits 3-Week High, Retail Buzz Builds On Chronic Thyroid Eye Disease Trial Data
By Stocktwits Inc | First Published Dec 16, 2024, 8:31 PM ISTThe company confirmed that it remains on track to submit a marketing application for veligrotug to U.S. regulators in the second half of 2025.
Shares of Viridian Therapeutics surged nearly 18% at the open on Monday to a nearly three-week high after the company reported promising trial data for its experimental drug veligrotug, aimed at treating chronic thyroid eye disease (TED).
Viridian announced that in a late-stage trial, 56% of veligrotug-treated patients experienced a reduction in proptosis, or abnormal eye bulging, achieving a mean reduction of 2.34 mm.
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Additionally, 56% of participants reported reduced diplopia, or double vision, with 32% achieving complete resolution.
The trial also delivered a 2.9-point mean reduction in inflammatory signs and symptoms from baseline, with the drug being well-tolerated and associated with only mild adverse events.
Thyroid eye disease, which causes inflammation and damage to the tissues surrounding the eye, affects an estimated 90 to 300 people per 100,000 in the U.S.
Viridian confirmed that it remains on track to submit a marketing application for veligrotug to U.S. regulators in the second half of 2025.
On Stocktwits, sentiment for Viridian’s stock turned ‘extremely bullish’, with the ticker entering the platform’s top 15 trending symbols.
One user described the news as making the stock a “long-term hold for me.”
Another hinted that veligrotug could offer better returns for Viridian than Tepezza, an FDA-approved TED drug marketed by Horizon Therapeutics, which was acquired by Amgen in October 2023 for $27.8 billion.
Viridian also expressed optimism about its VRDN-003 program, an IGF-1R antibody in development for TED.
The company said the combined results from the THRIVE and THRIVE-2 trials bolster confidence that VRDN-003 will deliver positive topline data by the first half of 2026, enabling a BLA submission in the second half of the same year.
Still, Viridian stock remains down about 20% year-to-date, as of its last close.
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