Viridian Therapeutics’ VRDN-001 data may keep enthusiasm in check, says RBC

RBC Capital analyst Gregory Renza keeps an Outperform rating and $44 price target on Viridian Therapeutics, though the firm also noted that while the company’s positive data from the ongoing phase 1/2 trial evaluating VRDN-001 in patients with chronic Thyroid Eye Disease, or TED, showed “directionally positive outcomes”, several points of debate may keep “enthusiasm in check” ahead of pivotal data. The analyst cited “limited numbers, baseline data, and absence of placebo comparison that leave clarity to be desired”, particularly when considering the confounding influence, of baseline characteristics and analyses versus the placebo arm. Shares of Viridian Therapeutics are down 18.5% at $19.98 in pre-market trading, which would be the first time the stock has traded below $20 in about eight months.