Viridian Therapeutics, Inc. (NASDAQ: VRDN) is engaged as a biotechnology company, which is focused on the research and development of treatments for serious disease with unmet therapies. Shares of the biotech company are surging 58% through early trading on Monday, August 15, 2022. Over the past three months, Viridian Therapeutics has seen average daily volume of 347,250 shares. However, volume of 7.15 million shares or dollar volume of around $166.67 million, has already exchanged hands through early trading.
Shares of Viridian Therapeutics are rallying after the company released positive initial clinical data from its ongoing Phase 1/2 clinical trial of VRDN-001 for the treatment of active thyroid eye disease (TED). The early results have shown two infusions of 10mg/kg of VRDN-001 to induce rapid improvement in both the signs and symptoms of TED at week 6. The proptosis response showed 83% of patients with an average reduction of 2.4mm from baseline.
Furthermore, 83% of patients reported a Clinical Activity Score of 0 or 1 with a mean reduction of 4.3 points from the baseline. Patients with diplopia saw a complete resolution at the baseline. VRDN-001 was shown to be well-tolerated by patients and maintained a favorable safety profile with no reported SAEs, hyperglycemia and no infusion reactions.
Viridian Therapeutics is now enrolling a new round to patients to test a 20mg/kg and 3mg/kg dose. Management estimates data to be presented for both doses sometime during the fourth quarter of 2022.
“TED is a severe, debilitating eye disease that threatens patients’ vision and overall quality of life,” said Raymond Douglas, M.D., Ph.D., director of the Orbital and Thyroid Eye Disease Program, Cedars-Sinai Medical Center and an investigator on the VRDN-001 trial. “In this trial, rapid and significant improvement in a broad set of efficacy measures suggests that VRDN-001 may have a differentiated profile that could offer meaningful benefits to patients.”
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