VRDN-003 is a monoclonal antibody commercialized by Viridian Therapeutics, with a leading Phase I program in Graves’ Ophthalmopathy. According to Globaldata, it is involved in 1 clinical trial, which is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of VRDN-003’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for VRDN-003 is expected to reach an annual total of $31 mn by 2039 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
VRDN-003 Overview
VRDN-003 is under development for the treatment of thyroid eye disease (Graves ophthalmopathy). It is administered through subcutaneous route. The therapeutic candidate acts by targeting insulin like growth factor 1 receptor (IGF1R).
Viridian Therapeutics Overview
Viridian Therapeutics (Viridian), formerly Miragen Therapeutics Inc is a clinical stage biopharmaceutical company. The company discovers and develops novel RNA-based therapeutics, with a core focus on therapeutic antibodies and their roles in diseases. It focuses on thyroid eye disease and cardiovascular disease areas. It’s lead pipeline products candidates include VRDN-001 (Intravenous) for treating thyroid eye disease (TED); and VRDN-002 (Subcutaneous), an inhibitor using half-life technology for treating thyroid eye disease (TED). The company has been depending on the third parties for the manufacturing and supply of the products. Viridian is headquartered in Boulder, Colorado, the US.
The company reported revenues of (US Dollars) US$0.3 million for the fiscal year ended December 2023 (FY2023), a decrease of 82.3% over FY2022. The operating loss of the company was US$254.5 million in FY2023, compared to an operating loss of US$134.3 million in FY2022. The net loss of the company was US$237.7 million in FY2023, compared to a net loss of US$129.9 million in FY2022.
For a complete picture of VRDN-003’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
