Viridian Stock Drops Despite Positive Phase III Results in Thyroid Eye Disease

Viridian Therapeutics saw its stock fall sharply—down nearly 40%—despite reporting strong Phase III results for its thyroid eye disease treatment, elegrobart.

In the REVEAL-1 trial, elegrobart met key endpoints in patients with thyroid eye disease. Patients receiving the drug every four weeks achieved a 54% proptosis response rate compared to 18% with placebo, while the eight-week dosing group reached 63%. Significant improvements were also observed in overall response rates and secondary endpoints like diplopia.

The therapy, a subcutaneous monoclonal antibody targeting IGF-1R, demonstrated a favourable safety profile, with mostly mild adverse events.

Despite these results, investor sentiment weakened—likely due to concerns about how the drug compares with existing treatments, particularly Tepezza from Amgen, and whether expectations were fully met.

Viridian is now awaiting further data from REVEAL-2 and an upcoming regulatory decision on another candidate, veligrotug, expected mid-2026.

30-03-2026