Viridian Therapeutics, Inc.

Viridian did not provide revenue, EPS, or gross margin figures on the call. It ended the quarter with $613 million in cash, cash equivalents and short-term investments and said its cash runway extends into the second half of 2026. On the clinical side, THRIVE enrolled 113 patients versus a 90-patient target, and management expects top-line results in September 2024; THRIVE 2 is on track for top-line data at the end of 2024. The company guided to a 001 BLA filing in the second half of 2025, a 003 pivotal start in mid-2024, an IND for 006 by year-end, and 008 nonhuman primate data in the second half of 2024.

Steve Mahoney framed Viridian as a differentiated developer focused on unmet needs and “best possible therapeutics,” emphasizing speed to patients and pipeline breadth across TED and FcRn. His tone was upbeat and confident, centered on execution: THRIVE over-enrolled, the 003 FDA meeting was positive, and multiple catalysts are coming over the next several quarters. He repeatedly stressed that management is delivering on prior guidance and that the company is “well positioned” for upcoming readouts and filings.

No CFO spoke on the call, so there was no separate financial review of revenue, margins, cash burn, or capital allocation. The only explicit financial update was that Viridian ended Q1 with $613 million in cash, cash equivalents and short-term investments and still expects runway into the second half of 2026. Management also reiterated that the company remains well capitalized while advancing 001, 003, and the FcRn programs.

Analysts focused heavily on safety, especially hearing impairment risk in THRIVE and how Viridian is monitoring it. Management said it is using standard MedDRA adverse-event reporting plus audiometry at baseline and prespecified points, and noted a baseline hearing-loss exclusion criterion; they also said lower exposure and lower Cmax versus TEPEZZA could potentially help, though they would not speculate on the final outcome. Questions on 003 centered on the FDA Type C meeting and whether dose-ranging work would be needed; management said the meeting was positive, that it still intends to start pivotal studies mid-year, and that more details will come after the minutes are received. Analysts also asked about the BLA timing, and management explained that the second-half 2025 filing is mainly driven by THRIVE 2 follow-up timing and the need to complete the safety database via STRIVE.