Why did Viridian's operating expenses surge in Q4 2024?

Viridian's operating expenses surged in Q4 2024 due to several factors: 1. **Clinical Trial Costs**: The company reported positive results from its phase 3 THRIVE-2 study for veligrotug, which contributed to the increase in operating expenses. Clinical trials are expensive endeavors, and the completion of a phase 3 trial typically involves significant costs, including participant fees, site management, and data analysis. 2. **Preparatory Commercial Activities**: Viridian is preparing for the potential U.S. launch of veligrotug in 2026, which requires significant commercial preparation. This includes hiring personnel, developing marketing strategies, and building a sales team, all of which incur substantial expenses. 3. **Research and Development**: The company continued to advance its pipeline, including the preparation for an Investigational New Drug (IND) submission for VRDN-008 by the end of 2025. Research and development activities, such as IND preparations and clinical trial initiation, are costly processes. 4. **Financing and Strategic Moves**: Viridian secured additional financing, which allowed the company to accelerate its R&D pipeline and extend its cash runway into the second half of 2027. The financing process involves legal, advisory, and other professional fees that contribute to the operating expenses. In summary, the surge in Viridian's operating expenses in Q4 2024 is primarily due to the costs associated with advancing its pipeline, preparing for commercialization, and securing additional financing. These expenses are necessary for the company's growth and preparation for potential regulatory approvals and market launches.