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Viridian Therapeutics (VRDN)
NASDAQ:VRDN

Viridian Therapeutics (VRDN) AI Stock Analysis

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Viridian Therapeutics

(NASDAQ:VRDN)

Rating:51Neutral
Price Target:
$13.50
▼( -1.24% Downside)
Viridian Therapeutics' overall stock score is influenced primarily by its significant financial challenges and a cautious technical outlook. However, the positive phase 3 trial results and strategic board appointment provide some optimism for future growth, balancing the financial difficulties.
Positive Factors
Efficacy and Safety
Veligrotug shows comparable-to-better efficacy and safety with a less burdensome infusion regimen, making it a preferred IV option for Thyroid Eye Disease treatment.
FDA Designation
Veligrotug recently received FDA Breakthrough Therapy Designation for the treatment of Thyroid Eye Disease, supporting eligibility for Priority Review.
Negative Factors
Profitability
Viridian is not yet profitable and will likely require additional funding for development and commercialization.
Regulatory Approval
Key risks include the need for regulatory approval and competition against larger organizations like Horizon.

Viridian Therapeutics (VRDN) vs. SPDR S&P 500 ETF (SPY)

Viridian Therapeutics Business Overview & Revenue Model

Company DescriptionViridian Therapeutics, Inc., a biotechnology company, develops treatments for patients suffering from serious diseases. It develops VRDN-001, a humanized monoclonal anti-IGF-1R antibody that is in Phase 1/2 clinical trial for the treatment of thyroid eye disease (TED); VRDN-002, an IGF-1R antibody, which is in Phase 1 clinical trial; and VRDN-003, a therapeutic antibody targeting IGF-1R for the treatment of TED. The company was formerly known as Miragen Therapeutics, Inc. and changed its name to Viridian Therapeutics, Inc. in January 2021. Viridian Therapeutics, Inc. was founded in 2006 and is headquartered in Waltham, Massachusetts.
How the Company Makes MoneyViridian Therapeutics makes money through the development and commercialization of its proprietary drug candidates. The company's revenue model typically involves the sale of pharmaceutical products upon receiving regulatory approval and successfully launching them to the market. Additionally, Viridian may engage in strategic collaborations and partnerships with other pharmaceutical companies to co-develop therapies, which can provide milestone payments, royalties, and licensing fees as additional revenue streams. These partnerships can also enhance the company's research and development capabilities while expanding its market reach for the commercialized therapies.

Viridian Therapeutics Financial Statement Overview

Summary
Viridian Therapeutics faces significant financial challenges with no revenue generation in 2024, consistent operational inefficiencies, and negative free cash flow. Despite a strong cash position and low leverage, the sustainability risks due to ongoing losses and cash burn rate are concerning.
Income Statement
30
Negative
Viridian Therapeutics has struggled with revenue generation, evident from the decrease in total revenue from $4.46M in 2019 to zero in 2024, indicating significant challenges in market traction or product development. Consistently negative net income and EBIT highlight ongoing operational inefficiencies. The company also experienced declining gross and net profit margins over the years, reflecting persistent unprofitability.
Balance Sheet
40
Negative
The balance sheet reveals a strong cash position with cash and cash equivalents growing to $717.6M by 2024, but the absence of revenue poses a risk to long-term sustainability. The company's debt-to-equity ratio is favorable due to minimal debt, suggesting low leverage. However, a consistent decline in equity ratio from 52% in 2019 to 90% in 2024 reflects potential over-reliance on equity financing.
Cash Flow
45
Neutral
Operating cash flow has been consistently negative, indicating that the company is not generating sufficient cash from its core operations. While there is a notable increase in financing cash flow, reflecting successful fundraising efforts, free cash flow remains negative, pointing to potential cash burn issues. The absence of revenue growth and high cash burn rate are concerning for future liquidity.
Breakdown
Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
302.00K314.00K1.77M2.96M1.05M
Gross Profit
302.00K-1.01M1.02M2.34M-27.25M
EBIT
-299.04M-254.45M-134.30M-79.73M-110.38M
EBITDA
-266.36M-234.56M-128.63M-78.79M-109.67M
Net Income Common Stockholders
-269.95M-237.73M-125.44M-79.42M-110.98M
Balance SheetCash, Cash Equivalents and Short-Term Investments
717.58M477.37M424.55M196.97M127.64M
Total Assets
742.40M490.42M435.09M203.71M131.25M
Total Debt
21.09M21.05M5.26M520.00K455.00K
Net Debt
-78.50M-81.78M-150.32M-41.78M-45.44M
Total Liabilities
70.76M48.40M40.03M15.99M11.22M
Stockholders Equity
671.64M442.02M395.06M187.72M120.04M
Cash FlowFree Cash Flow
-232.83M-185.07M-94.64M-54.92M-29.82M
Operating Cash Flow
-232.32M-184.17M-93.84M-54.58M-29.78M
Investing Cash Flow
-228.65M-94.25M-115.13M-74.29M-50.48M
Financing Cash Flow
457.74M225.67M322.24M125.28M101.31M

Viridian Therapeutics Technical Analysis

Technical Analysis Sentiment
Positive
Last Price13.67
Price Trends
50DMA
13.43
Positive
100DMA
15.56
Negative
200DMA
17.85
Negative
Market Momentum
MACD
-0.01
Negative
RSI
54.79
Neutral
STOCH
76.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VRDN, the sentiment is Positive. The current price of 13.67 is above the 20-day moving average (MA) of 13.08, above the 50-day MA of 13.43, and below the 200-day MA of 17.85, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 54.79 is Neutral, neither overbought nor oversold. The STOCH value of 76.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VRDN.

Viridian Therapeutics Risk Analysis

Viridian Therapeutics disclosed 67 risk factors in its most recent earnings report. Viridian Therapeutics reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
If we are unable to raise capital when needed, we would be forced to delay, reduce, or eliminate our research and product development programs or future commercialization efforts. Q4, 2024
2.
If we are unable to successfully develop internal commercialization capabilities, sales of our future products may be negatively impacted. Q4, 2024
3.
We may be subject to claims challenging the inventorship of our patents and other intellectual property. Q4, 2024

Viridian Therapeutics Peers Comparison

Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
74
Outperform
$1.12B29.9411.23%29.20%
53
Neutral
$5.14B3.06-43.57%2.81%16.81%-0.12%
51
Neutral
$1.13B-49.41%4.86%10.13%
48
Neutral
$909.52M-93.70%-25.83%
WVWVE
47
Neutral
$938.68M-105.50%-7.06%-57.17%
42
Neutral
$885.32M-45.35%22264.23%39.09%
39
Underperform
$637.81M-51.85%11070.12%32.07%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
VRDN
Viridian Therapeutics
13.67
1.51
12.42%
GERN
Geron
1.48
-2.01
-57.59%
IOVA
Iovance Biotherapeutics
1.75
-8.51
-82.94%
AUPH
Aurinia Pharmaceuticals
8.27
3.03
57.82%
WVE
Wave Life Sciences
6.09
0.00
0.00%
SNDX
Syndax Pharmaceuticals
10.81
-9.30
-46.25%

Viridian Therapeutics Earnings Call Summary

Earnings Call Date:May 06, 2025
(Q1-2024)
|
% Change Since: 4.19%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Positive
The earnings call reflects significant progress and positive developments in the company's pipeline, particularly with the completion of enrollment in the THRIVE trial, a strong financial position, and positive regulatory interactions. However, there are challenges, such as the extended timeline for BLA submission and concerns about hearing impairment assessments in clinical trials.
Q1-2024 Updates
Positive Updates
Completion of THRIVE Phase III Enrollment
The THRIVE Phase III trial evaluating 001 in patients with active TED completed enrollment ahead of schedule with 113 patients, exceeding the target of 90 due to strong patient demand.
Strong Financial Position
Viridian ended the quarter with $613 million in cash, cash equivalents, and short-term investments, maintaining a cash runway into the second half of 2026.
Positive FDA Meeting for Subcutaneous 003 Program
The company completed a positive Type C meeting with the FDA for the subcutaneous 003 program and is on track to initiate pivotal clinical trials midyear.
Progress in FcRn Portfolio
Viridian is making progress with its FcRn portfolio, aiming to file an IND for 006 by the end of the year, and plans to share 008 nonhuman primate data in the second half of 2024.
Negative Updates
Extended Timeline for BLA Submission
The BLA submission for the 001 program is anticipated in the second half of 2025, driven primarily by the extended follow-up period in the THRIVE 2 trial.
Challenges in Hearing Impairment Assessment
There are concerns about controlling for hearing impairment events in the THRIVE study due to factors already present in TED patients.
Company Guidance
During Viridian Therapeutics' Q1 2024 earnings call, the company provided several updates on their pipeline and financial outlook. Viridian announced the completion of enrollment for their THRIVE Phase III trial for the 001 IV program, surpassing the target with 113 patients. They anticipate top-line results in September 2024 and plan a BLA submission for the 001 program in the second half of 2025. The company also highlighted progress in their FcRn portfolio, with an IND for 006 expected by the end of 2024 and 008 nonhuman primate data anticipated in the second half of 2024. Viridian ended the quarter with $613 million in cash, cash equivalents, and short-term investments, maintaining a cash runway into the second half of 2026.

Viridian Therapeutics Corporate Events

Product-Related AnnouncementsBusiness Operations and Strategy
Viridian Reports Positive Phase 3 Trial Results
Positive
May 20, 2025

On May 20, 2025, Viridian Therapeutics announced positive long-term durability data from its THRIVE phase 3 clinical trial for veligrotug, an anti-IGF-1R antibody for thyroid eye disease (TED). The trial showed that 70% of patients maintained their response at week 52, with no changes in safety profile. Veligrotug has received Breakthrough Therapy Designation, and the company plans a Biologics License Application submission in the second half of 2025, with a commercial launch anticipated in 2026.

The most recent analyst rating on (VRDN) stock is a Buy with a $45.00 price target. To see the full list of analyst forecasts on Viridian Therapeutics stock, see the VRDN Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Viridian Therapeutics Appoints Jeff Ajer to Board
Positive
Apr 7, 2025

On April 7, 2025, Viridian Therapeutics announced the appointment of Jeff Ajer to its Board of Directors. Mr. Ajer brings over 25 years of experience in commercialization for rare diseases, having previously served as Chief Commercial Officer at BioMarin Pharmaceutical. His expertise is expected to bolster Viridian’s commercial strategy as the company advances its pipeline, including veligrotug for thyroid eye disease. Additionally, Viridian announced inducement grants of stock options to new employees, aligning with its growth and recruitment strategies.

Private Placements and Financing
Viridian Therapeutics Enters New $300M Sale Agreement
Neutral
Mar 4, 2025

On March 3, 2025, Viridian Therapeutics entered into a new Open Market Sale Agreement with Jefferies LLC, allowing the company to offer and sell up to $300 million in common stock to support clinical development and commercialization efforts. This new agreement replaces a prior sale agreement from September 2022, which was terminated after selling $115.2 million in stock, with no costs associated with its early termination.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.