Viridian Therapeutics(VRDN) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenue for Q1 2025 remained flat at $72,000 compared to Q1 2024[18] - Net loss for Q1 2025 was $86,912,000, compared to a net loss of $48,542,000 in Q1 2024, representing an increase of 79.2%[18] - Net loss per share for common stock was $0.87 in Q1 2025, up from $0.59 in Q1 2024[18] - The company reported a comprehensive loss of $86,657,000 for Q1 2025, compared to a comprehensive loss of $49,247,000 in Q1 2024[18] Expenses - R&D expenses increased to $76.8 million in Q1 2025, up from $40.9 million in Q1 2024, due to more clinical trials[12] - General and administrative expenses rose to $17.1 million in Q1 2025, compared to $15.0 million in Q1 2024, driven by preparatory commercial activities[12] - Research and development expenses increased by 87.7% to $76,835,000 in Q1 2025 from $40,944,000 in Q1 2024[18] - Total operating expenses rose by 67.8% to $93,938,000 in Q1 2025 from $55,969,000 in Q1 2024[18] Cash and Assets - Strong cash position of $636.6 million as of March 31, 2025, supporting operations into the second half of 2027[2] - Cash, cash equivalents, and short-term investments decreased to $636,633,000 as of March 31, 2025, down from $717,584,000 as of December 31, 2024[20] - Total assets decreased to $660,981,000 as of March 31, 2025, from $742,403,000 as of December 31, 2024[20] - Total stockholders' equity declined to $604,473,000 as of March 31, 2025, from $671,639,000 as of December 31, 2024[20] - Total liabilities decreased to $56,508,000 as of March 31, 2025, from $70,764,000 as of December 31, 2024[20] Clinical Development - Veligrotug BLA submission is on track for the second half of 2025, with a potential U.S. launch in 2026[4] - Anticipated topline data from phase 3 trials REVEAL-1 and REVEAL-2 for VRDN-003 expected in the first half of 2026[5] - VRDN-008 IND submission is on track for year-end 2025, showing longer half-life than efgartigimod[7] - VRDN-006 proof-of-concept data expected in Q3 2025, focusing on IgG reduction[7] Market and Leadership - The market size for myasthenia gravis and chronic inflammatory demyelinating polyneuropathy is projected to approach $10 billion by 2030[6] - Jeff Ajer appointed to the Board of Directors, bringing over 25 years of experience in commercialization for rare diseases[8] Shares - Shares outstanding as of March 31, 2025, totaled 100,258,627, including common and preferred stock[12]