Shares of Viridian Therapeutics, Inc. (VRDN) are moving down about 31 percent on Monday morning trading despite announcing positive topline data from the elegrobart REVEAL-1 phase 3 clinical trial in patients with active thyroid eye disease.
The study met its primary endpoint of Q4W proptosis responder rate or PRR with a highly statistically significant treatment effect. Additionally, Elegrobart Q4W and Q8W achieved clinically meaningful 54% and 63% PRR versus 18% placebo at week 24.
The company expects topline data from REVEAL-2 for patients the second pivotal phase 3 clinical trial of elegrobart, in the second quarter of 2026. Meanwhile, it anticipates submitting a Biologics License Application to the U.S. FDA for elegrobart in the first quarter of 2027.
Currently, VRDN is trading at $18.69, down 31.79 percent on the Nasdaq. The stock opened today's trading session at $17.00 and has moved as high as $19.00 so far. It has traded between $9.90 and $34.29 in the past one year.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.