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Viridian posts first Lumvoa revenue but net loss widens

By Reuters News


Overview

  • U.S. biotech firm reported first net product revenue from Lumvoa after TED launch in Q3

  • Q3 net loss widened to $101.2 mln from $34.6 mln a year earlier

  • R&D expenses fell, while SG&A costs rose to support Lumvoa commercial activities


Outlook

  • Company plans BLA submission for elegrobart in TED in Q1 2027

  • VRDN-292 phase 1 trial in Graves’ disease expected to begin in Q4 2026

  • Company expects VRDN-008 phase 1 data and FcRn portfolio update in Q4 2026


Result Drivers

  • LUMVOA LAUNCH - Co reported $24.7 mln in net product revenue from Lumvoa in its first quarter of launch, with over 100 patients on therapy and progress in market access

  • HIGHER SG&A COSTS - SG&A expenses rose due to increased personnel and professional services to support Lumvoa commercial activities and organizational growth

  • LOWER R&D EXPENSES - R&D expenses declined, mainly due to reduced costs for veligrotug and elegrobart clinical studies, partly offset by higher investment in TSHR and FcRn programs and increased headcount


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Loss

$101.21 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Viridian Therapeutics, Inc. is $35.00, about 39.2% above its November 3 closing price of $25.15


Reuters Recommended Reads

  • Nov 3 - Beam Therapeutics posts wider than expected Q3 net loss as revenue drops

  • Nov 3 - Arvinas Q3 revenue drops sharply on lower milestone payments

  • Nov 2 - Immunovia Q3 net sales surge on PancreaSure uptake


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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