H.C. Wainwright says iridian Therapeutics’ VRDN-001 demonstrated “best-in-class” potential in active thyroid eye disease treatment. Viridian reported positive THRIVE-1 topline data in active TED patients, indicating that most patients achieved complete resolution after 1-2 infusions and, more importantly, a potentially better outcome and safety profile than Tepezza by some metrics, the analyst tells investors in a research note. The firm is “encouraged to see a rapid improvement” in the proptosis responder rate, which was 53% at week three after one infusion. The firm sees a “compelling valuation” for Viridian shares, saying VRDN-001 looks poised to take share in the TED market. It keeps a Buy rating on the stock with a $27 price target.
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