Viridian jumps after US FDA approves thyroid eye disease drug

Amgen

29/06/2026 15:05

Updates
** Shares of Viridian Therapeutics VRDN.O rise as much as 8% to a near-two-month high of $19.38 
** The firm said late on Friday that the U.S. FDA approved its drug to treat patients with thyroid eye disease
** The approval for Lumvoa is supported by data to treat both active and chronic forms of the disease
** Five infusions of Lumvoa are priced roughly in line with eight infusions of Amgen's AMGN.O Tepezza, Chief Commercial Officer Tony Casciano said on a call with analysts on Monday
** Casciano added that the wholesale acquisition cost for five infusions of Lumvoa for a typical 75‑kg patient is about $450,000, roughly equivalent to eight infusions of Tepezza for the same patient weight
** Expects to file for U.S. approval of its subcutaneous version of treatment in early 2027
** RBC Capital Markets says, "We view Lumvoa's approval as a transformative milestone for VRDN as their first FDA-approved medicine transitions the company from clinical-stage to commercial-stage"
** Including session moves, stock down 38.3% YTD 

 (Reporting by Siddhi Mahatole)
 ((siddhi.mahatole@thomsonreuters.com))