Viridian Therapeutics, Inc.
viridiantherapeutics.comWhat Do They Do?
Develops and commercializes medicines for patients with autoimmune and rare diseases, including thyroid eye disease and Graves’ disease.
10-K for FY2025, filed Feb 26, 2026
How Do They Make Money?
Licensees pay upfront fees and development, clinical, regulatory, or sales milestones for product rights; royalties are tied to licensed-product sales. Collaboration agreements can also reimburse research and development work.
10-K for FY2025, filed Feb 26, 2026The Company enters into license and collaboration agreements and certain other agreements that are within the scope of ASC 606, under which…View ↗
For agreements that include sales-based royalties, including milestone payments based on the level of sales, and where the license is…View ↗
As consideration for the Zenas Agreements, the transaction price included upfront non-cash consideration and variable consideration in the…View ↗
$70.8M
-
10-K for FY2025, filed Feb 26, 2026
$70.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Collaboration
|
1.1% |
Collaboration, FY2025
$800K Sources
|
|
|
License
Licensed
10-K for FY2025, filed Feb 26, 2026 |
99% |
License, FY2025
$70M Sources
|
Licensed |
Who Are Their Customers?
Viridian grants licenses to biopharmaceutical companies: it gave Zenas BioPharma rights to develop, manufacture, and commercialize certain antibody products in greater China, and Zenas later sublicensed those rights to Zai Lab.
10-K for FY2025, filed Feb 26, 2026In October 2020, Viridian Therapeutics, Inc. (“Private Viridian”) entered a license agreement with Zenas BioPharma to license technology…View ↗
Do Revenues Turn Into Profits?
No. It lost $342.6M in FY2025.
10-K for FY2025, filed Feb 26, 2026
−$363.4MView ↗
10-K for FY2025, filed Feb 26, 2026
−$342.6MView ↗
10-K for FY2025, filed Feb 26, 2026
−$276.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$127.1MView ↗
- ▲ +26% (Loss)
- vs −$100.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Jun 29, 2026
U.S. Food and Drug Administration approves Lumvoa for thyroid eye disease
Viridian called it its first approved medicine and commercial product and planned an immediate launch.
Sources
8-K, filed Jun 29, 2026
WALTHAM, Mass. – (BUSINESS WIRE) – Viridian Therapeutics, Inc. (Nasdaq: VRDN), a biotechnology company focused on discovering, developing…View ↗
Growing. Revenue grew 23.9x in 4 years, from $3M in FY2021 to $70.8M in FY2025, about 121% a year.
Commercial preparation
The earlier report describes a focus on discovering and developing medicines; the latest also includes commercialization and preparations for a product launch, including sales, market access, patient services, and distribution capabilities.
10-K for FY2022, filed Mar 9, 2023 10-K for FY2025, filed Feb 26, 2026We are a biopharmaceutical company focused on discovering and developing potential best-in-class medicines for serious and rare diseases.…View ↗
Broader target pipeline
The earlier report listed preclinical programs for undisclosed rare and autoimmune diseases; the latest identifies FcRn inhibitors for autoimmune disorders and a TSHR program for thyroid eye disease and Graves’ disease.
10-K for FY2022, filed Mar 9, 2023 10-K for FY2025, filed Feb 26, 2026In addition to developing therapies for TED, we are executing a similar strategic approach to identify opportunities to develop more…View ↗
Who Do They Compete With?
Competes with Amgen, Immunovant, Roche, Sling Therapeutics, Novartis, Lassen Therapeutics, Alumis, Argenx, UCB, Johnson and Johnson, GenSci, and AV7
10-K for FY2025, filed Feb 26, 2026Amgen’s Tepezza is the only FDA-approved medication for TED. Other therapies, such as corticosteroids, have been used on an off-label basis…View ↗
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