Viridian 2025 Q2 Earnings Wider Losses Amid Regulatory and Partnership Momentum

Viridian Therapeutics reported its fiscal 2025 Q2 earnings on August 6, 2025, showcasing a 4.2% revenue increase to $75,000, though its losses widened significantly compared to the prior year. Despite the revenue growth, the company’s net loss expanded by 55.0% to $100.73 million, or $1.00 per share, underscoring continued financial challenges.

Revenue
Viridian’s total revenue rose to $75,000 in Q2 2025, a 4.2% increase from $72,000 in the same period in 2024. This growth was driven entirely by the Collaboration Revenue – related party segment, which contributed the full $75,000 in revenue. The absence of additional segment diversification highlights a narrow revenue base for the company.

Earnings/Net Income
The company’s net loss widened to $100.73 million in Q2 2025, a 55.0% increase from $64.99 million in the prior year, and EPS fell to $1.00 from $0.77. These figures reflect continued operational challenges, with the company recording a loss for the 13th consecutive year in this quarter. The deteriorating profitability is a major concern despite ongoing development progress.

Price Action
Following the earnings release, VRDN shares saw mixed performance. The stock declined 3.04% in the latest trading day and 3.37% over the past week. However, it has rebounded 8.24% month-to-date, suggesting some investor optimism about the company’s long-term prospects.

Post Earnings Price Action Review
A strategy of buying shares immediately following the earnings release and holding for 30 days delivered a modest return with a CAGR of 3.76%. However, it significantly underperformed the benchmark, trailing by 37.81%. The strategy’s Sharpe ratio of 0.05 indicates minimal risk-adjusted returns, while a maximum drawdown of 0.00% suggests limited volatility. Overall, the post-earnings investment approach appears to offer low return potential despite its conservative risk profile.

CEO Commentary
Steve Mahoney, President and CEO of Viridian, emphasized the company’s forward momentum, particularly around the Biologics License Application (BLA) for veligrotug, which is expected in 2H 2025, and the associated U.S. commercial launch in 2026. The FDA’s Breakthrough Therapy Designation (BTD) for veligrotug underscores its strong clinical performance, including durable response rates and favorable safety in clinical trials. Mahoney also highlighted the $70 million upfront licensing deal with Kissei Pharmaceutical for Japan and ongoing advancements in the FcRn inhibitor pipeline. The tone remains optimistic, with a focus on near-term regulatory and commercial milestones.

Guidance
Viridian expects to submit the veligrotug BLA in 2H 2025 and the MAA to the EMA in 1H 2026. The company also anticipates topline data for VRDN-003 in 1H 2026, with a planned BLA submission by year-end 2026. Phase 1 data for VRDN-006, including IgG reduction, is expected in Q3 2025, while VRDN-008’s IND submission is on track for year-end 2025. The company continues to advance development and commercialization in Japan under the Kissei agreement.

Additional News
Viridian Therapeutics recently announced a licensing agreement with Kissei Pharmaceutical to develop and commercialize veligrotug and VRDN-003 in Japan, receiving an upfront payment of $70 million, with potential future milestones totaling up to $315 million. The company also received Breakthrough Therapy Designation (BTD) from the FDA for veligrotug, underscoring its potential as a best-in-class treatment for thyroid eye disease (TED). With a cash position of $563.4 million as of June 30, 2025, the firm anticipates its financial resources to support operations through 2H 2027. These strategic and financial developments highlight Viridian’s growing momentum despite ongoing operational losses.