Viridian Therapeutics, Inc. (VRDN) Stock Price & How to Invest
Short answer
VRDN is Viridian Therapeutics, a commercial-stage biotech whose first product, Lumvoa (veligrotug) for thyroid eye disease, won FDA approval in June 2026. Investing in it is a bet on a fresh drug launch challenging Amgen's entrenched Tepezza, so the story is execution and market share rather than established profits.
VRDN stock price
As of 2026-07-08, Viridian Therapeutics, Inc. (VRDN) last closed at $19.86, up 16.5% over the past year. Over the past 52 weeks it has traded between $13.30 and $33.78.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Viridian Therapeutics, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Viridian Therapeutics, Inc. (VRDN) do?
Viridian Therapeutics (Nasdaq: VRDN) is a biopharmaceutical company focused on thyroid eye disease (TED), a rare autoimmune condition that causes eye bulging (proptosis) and double vision (diplopia). Its lead drug, Lumvoa (veligrotug-vvze), is an intravenous anti-IGF-1R antibody that the FDA approved in June 2026 for both active and chronic TED, based on the THRIVE and THRIVE-2 phase 3 trials. The company is also developing subcutaneous elegrobart (an autoinjector TED candidate with positive REVEAL-1 and REVEAL-2 phase 3 data and a planned 2027 filing) and an earlier-stage FcRn portfolio (VRDN-006 and VRDN-008).
The investment picture is that of a newly commercial biotech transitioning from clinical development to a product launch. Trailing revenue is negligible because Lumvoa only just reached the market, and the company runs large quarterly net losses funding R&D and commercial buildout. What supports the story is a strong balance sheet (roughly $762 million in cash and short-term investments as of March 2026), a large market cap relative to revenue that reflects future-sales expectations, and a differentiated label covering both active and chronic disease. The central question is whether Lumvoa can win share from Amgen's Tepezza, the only prior therapy, before elegrobart and competing subcutaneous formulations reshape the market.
What's driving Viridian Therapeutics, Inc. (VRDN)?
1. Lumvoa launch and TED market share
Lumvoa is Viridian's first commercial product and its near-term value driver. In pivotal trials it delivered a 70% proptosis responder rate in active TED and 56% in chronic TED versus single-digit placebo rates, and it is the first therapy labeled at approval for both active and chronic stages. How fast it converts that data into prescriptions against Amgen's established Tepezza is the key swing factor.
2. Subcutaneous elegrobart pipeline
Elegrobart is Viridian's follow-on TED candidate with positive REVEAL-1 and REVEAL-2 phase 3 topline data and a BLA submission anticipated in 2027. If it becomes an approved subcutaneous autoinjector option, it could broaden the franchise beyond the intravenous Lumvoa and address patient convenience, a dimension where competitors are also racing to develop under-the-skin formulations.
3. FcRn portfolio and pipeline expansion
Beyond TED, Viridian is advancing an FcRn-targeted portfolio (VRDN-006 and VRDN-008) into autoimmune indications, with a VRDN-006 development plan and early VRDN-008 healthy-volunteer data expected in 2026. This gives the company a second therapeutic area to diversify away from single-product concentration, though these programs are early and unproven.
4. Strong cash runway
With roughly $762 million in cash and short-term investments as of March 2026, Viridian has funding to support the Lumvoa launch and advance its pipeline. That balance sheet reduces near-term financing pressure, although continued large operating losses and potential future raises remain part of the picture for a company still building revenue.
What are the risks to Viridian Therapeutics, Inc. (VRDN)?
Viridian is a newly commercial biotech with negligible trailing revenue and quarterly net losses above $100 million, so its valuation depends heavily on future sales that have not yet materialized. Lumvoa faces direct competition from Amgen's Tepezza, an entrenched incumbent that is also developing a subcutaneous formulation, and launch uptake, pricing, reimbursement, and physician adoption are all uncertain. The company is concentrated in thyroid eye disease, a rare-disease market, so any safety signal, slow launch, or competitive setback would weigh heavily. Pipeline programs like elegrobart and the FcRn portfolio carry clinical and regulatory risk, and continued losses could eventually require additional capital that dilutes shareholders.
How is Viridian Therapeutics, Inc. (VRDN) valued? (approximate, JUNE 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Viridian Therapeutics, Inc.'s investor relations page or your broker.
- Revenue (Q1 2026): ~$0.1M
- Net loss (Q1 2026): ~$105M
- R&D expense (Q1 2026): ~$78M
- SG&A expense (Q1 2026): ~$39M
- Cash & short-term investments: ~$762M (Mar 2026)
- Market cap: ~$1.75B
As of June 2026, Viridian carried a roughly $1.75 billion market cap against essentially no product revenue, because Lumvoa only just launched after its FDA approval that month. The valuation reflects expectations for future TED sales rather than current earnings, and the company continues to post large operating losses funded by its cash balance.
Who competes with Viridian Therapeutics, Inc. (VRDN)?
Thyroid eye disease incumbents
Amgen's Tepezza (teprotumumab) was the only approved TED therapy before Lumvoa and is the direct competitor Viridian must take share from. Amgen is also advancing a subcutaneous Tepezza formulation, so the incumbent is actively defending and extending its franchise.
IGF-1R and next-generation TED developers
Other biopharma companies pursuing IGF-1R antibodies and alternative mechanisms for thyroid eye disease, including subcutaneous and oral candidates, compete for the same rare-disease patient population that both Lumvoa and Viridian's own elegrobart target.
Rare-disease and autoimmune biotechs
Broader clinical-stage and commercial rare-disease biotechs, including those developing FcRn-targeted therapies in autoimmune indications, compete with Viridian's FcRn portfolio for investor capital, clinical talent, and eventual market positioning.
How to invest in Viridian Therapeutics, Inc. (VRDN)
There are three common ways to get VRDN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so VRDN sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where VRDN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Viridian Therapeutics, Inc. (VRDN)
VRDN is an early-launch biotech story where the thesis rides on how quickly Lumvoa can take thyroid-eye-disease share from Tepezza, funded by a deep cash balance but not yet by meaningful revenue.
More on Viridian Therapeutics, Inc. (VRDN)
Whether VRDN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is VRDN a buy?, and where the stock could go from here in the VRDN stock forecast.
For income investors, whether VRDN pays a dividend and how the payout looks is covered in does VRDN pay a dividend?
Build a basket around VRDN with Walnut
Use Viridian Therapeutics, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Viridian Therapeutics do?
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Viridian is a biopharmaceutical company focused on thyroid eye disease (TED), a rare autoimmune condition that causes eye bulging and double vision. Its lead drug, Lumvoa (veligrotug), won FDA approval in June 2026, and it is developing additional TED and autoimmune candidates.
What is Lumvoa (veligrotug)?
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Lumvoa is Viridian's first commercial product, an intravenous anti-IGF-1R antibody approved in June 2026 for both active and chronic thyroid eye disease. In phase 3 trials it produced proptosis responder rates of roughly 70% in active and 56% in chronic disease versus single-digit placebo rates.
Is VRDN profitable?
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No. As of Q1 2026 Viridian had negligible revenue (about $0.1 million) and a net loss near $105 million, driven by roughly $78 million of R&D and $39 million of SG&A spending. It is a pre-profit biotech funding a new drug launch.
How much cash does Viridian have?
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Viridian reported approximately $762 million in cash, cash equivalents, and short-term investments as of March 31, 2026. That balance is intended to fund the Lumvoa launch and advance its pipeline, though the company continues to run large operating losses.
Who competes with Viridian?
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The main competitor is Amgen's Tepezza, the only prior approved thyroid eye disease therapy, which is also developing a subcutaneous version. Other IGF-1R and next-generation TED developers and rare-disease biotechs also compete for the same patient population.
What is elegrobart?
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Elegrobart is Viridian's follow-on thyroid eye disease candidate, a subcutaneous autoinjector therapy with positive REVEAL-1 and REVEAL-2 phase 3 topline data. The company anticipates a BLA submission in 2027, aiming to offer a more convenient administration option than intravenous Lumvoa.
Why is VRDN's market cap so high relative to revenue?
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Viridian carried roughly a $1.75 billion market cap in mid-2026 despite almost no revenue because Lumvoa only just launched. The valuation reflects investor expectations for future thyroid-eye-disease sales rather than current earnings, which is common for newly commercial biotechs.
What are the main risks for VRDN?
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Key risks include an unproven commercial launch against entrenched Tepezza, heavy concentration in a single rare-disease market, ongoing losses that could require future capital, and clinical or regulatory setbacks in its pipeline. Walnut is not an investment adviser, so treat this as descriptive context, not a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Viridian Therapeutics, Inc.'s investor relations page or your broker before making investment decisions.