Viridian Therapeutics, Inc. (VRDN) Reports Q2 Loss, Lags Revenue Estimates

Financial Performance - Viridian Therapeutics reported a quarterly loss of $1.02 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.87, representing an earnings surprise of -17.24% [1] - The company posted revenues of $0.07 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 17.24%, with no change in revenue compared to the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [2] Stock Performance - Viridian Therapeutics shares have declined approximately 29.3% since the beginning of the year, contrasting with the S&P 500's gain of 9% [3] - The current Zacks Rank for the stock is 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.95 on revenues of $0.08 million, and for the current fiscal year, it is -$3.61 on revenues of $0.24 million [7] - The estimate revisions trend for Viridian Therapeutics is mixed, and future earnings expectations will depend on management's commentary during the earnings call [4][6] Industry Context - The Medical - Biomedical and Genetics industry, to which Viridian Therapeutics belongs, is currently in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]