Viridian Therapeutics, Inc. stock (Nasdaq: VRDN) is back in the spotlight on December 15, 2025, as shares push to fresh highs amid a mix of sector news, new Wall Street coverage, and a shifting competitive landscape in thyroid eye disease (TED)—the company’s core focus.
As of 9:47 a.m. ET (14:47 UTC), VRDN stock traded at $33.84, up about 4.7% on the day, after touching an intraday high of $34.92. That move extends a strong multi-month run and underscores how quickly sentiment can change around late-stage biotech names when the market smells a cleaner path to commercialization.
VRDN stock today: price action and what the market is reacting to
Early on December 15, Viridian Therapeutics stock printed what was reported as a 52-week high around $33.67, continuing a steep climb that has drawn momentum investors back into the name. [1] Trading later in the session pushed above that level, with the stock reaching $34.92 intraday.
The immediate “why now?” for VRDN stock appears to be a stacking effect of (1) bullish analyst actions and (2) meaningful competitor news in TED that could alter market-share assumptions—plus the ever-present anticipation around Viridian’s FDA path for its lead program.
The big external headline: argenx halts Phase 3 TED studies (and the ripple hits VRDN)
One of the most consequential TED-related headlines on December 15, 2025 did not come from Viridian itself—it came from argenx.
argenx announced that its Phase 3 UplighTED studies evaluating subcutaneous efgartigimod in adults with moderate-to-severe TED will be discontinued, following an Independent Data Monitoring Committee recommendation to stop for futility after a pre-specified interim analysis. argenx stated safety and tolerability appeared favorable, with no new safety signals identified. [2]
Why does that matter for Viridian Therapeutics stock?
Because TED is shaping up as a high-stakes, commercially established arena—yet still one where credible late-stage competitors can meaningfully compress expected market share, pricing power, and peak-sales narratives. When a major biotech steps back from the indication, investors often re-run the mental math for the remaining players.
Important nuance: this does not automatically hand the market to Viridian. TED already has an incumbent standard of care (and other programs in development), and Viridian still needs regulatory clearance and execution. But in biotech-land, fewer well-funded rivals can be enough to ignite a new leg higher in valuation—especially when a company is nearing a potential launch window.
The Viridian investment thesis in one line: TED, IGF-1R, and a bid to be best-in-class
Viridian is positioning itself as a dedicated TED company built around antibody engineering, with multiple shots on goal.
Its headline asset is veligrotug (VRDN-001), an intravenous anti–insulin-like growth factor-1 receptor (IGF-1R) monoclonal antibody being developed for TED. Viridian announced it submitted a Biologics License Application (BLA) to the U.S. FDA in late October 2025, and the submission included a request for Priority Review (which, if granted, shortens FDA review timelines). [3]
Viridian has pointed to a potential mid-2026 U.S. commercial launch if approved under a Priority Review timeline. [4]
Pipeline depth matters: VRDN-003 and the “next swing” after veligrotug
While veligrotug is the near-term regulatory story, Viridian’s longer-term TED strategy also includes VRDN-003, a subcutaneous IGF-1R antibody candidate designed to compete on convenience and durability—key factors in a chronic/relapsing disease setting.
Viridian previously announced that enrollment was completed in both Phase 3 trials (REVEAL-1 and REVEAL-2) for VRDN-003, with topline data expected in the first half of 2026. [5]
That 2026 data calendar is one reason many analysts talk about Viridian as a “catalyst-heavy” stock: the company is working a classic biotech sequence—regulatory event for Product A, then pivotal readouts for Product B, with each milestone potentially re-rating the equity (up or down).
Beyond TED, Viridian has also been advancing neonatal Fc receptor (FcRn) inhibitor programs. In its Q3 2025 update, the company highlighted Phase 1 progress for VRDN-006 and noted VRDN-008 (a half-life extended FcRn inhibitor) was on track for an IND filing, with healthy-volunteer data anticipated in the second half of 2026. [6]
Wall Street “forecast mode”: what analysts are projecting for VRDN stock
By mid-December, the analyst drumbeat around Viridian Therapeutics stock has been notably positive, with multiple firms raising targets or initiating coverage.
Recent analyst actions driving VRDN stock sentiment
Several widely-circulated notes and summaries highlight:
- Stifel raised its price target on VRDN to $48 (from $41) while maintaining a Buy rating, citing the veligrotug BLA filing, VRDN-003 Phase 3 updates, and financing strength. [7]
- RBC Capital raised its price target to $45 (from $41) and maintained an Outperform rating, pointing to the BLA submission, TED timelines for VRDN-003 readouts, and a strengthened cash position. [8]
- Truist Securities initiated coverage with a Buy rating (reported target $41). [9]
- William Blair initiated coverage with an Outperform recommendation (often discussed alongside a “fair value” style framework in market coverage). [10]
- Wedbush raised its price target to $47 while maintaining an Outperform rating (reported on December 10, 2025). [11]
The common thread across these perspectives: analysts are underwriting a scenario in which Viridian can launch veligrotug in 2026 and build meaningful share in TED, while VRDN-003 provides an additional product cycle that could sustain growth.
Consensus price targets for Viridian Therapeutics stock
Consensus aggregators vary by source and coverage universe, but the broad picture is similar: the street is generally constructive, while acknowledging biotech risk.
One widely-followed compilation lists an average 12-month price target around $41.08, with targets ranging from $26 on the low end to $61 on the high end. [12]
That range is worth pausing on. When a stock has targets spread this widely, it’s usually a tell that key assumptions are still binary—FDA timing, label language, payer dynamics, and real-world uptake can all swing the model.
The financial runway: cash, financings, and what Viridian says it can fund
Late-stage biotech investors obsess over two things: catalysts and cash. Viridian has been leaning hard into the “we’re funded” message.
In its third-quarter 2025 update, Viridian reported:
- Preliminary cash, cash equivalents, and short-term investments of approximately $887.9 million as of October 31, 2025, up from $490.9 million as of September 30, 2025 (reflecting financing activity). [13]
- Q3 2025 included $70.0 million in license revenue (plus additional smaller collaboration revenue) and a net loss of $34.6 million for the quarter. [14]
- The company described a “comprehensive financing package,” including:
- A public equity offering that ultimately totaled about $289.1 million in gross proceeds after the underwriters’ option was exercised. [15]
- A royalty financing with DRI that included $55 million upfront and up to $115 million in near-term milestones tied to VRDN-003 topline data and U.S. veligrotug approval (with tiered royalties on U.S. net sales). [16]
- An amended credit facility providing for up to $300 million in available capital, including required proceeds at closing after repayment of the prior facility. [17]
Viridian also stated it believes its cash plus potential milestones and anticipated commercial revenues (if approvals occur) are expected to fund its current plans through profitability. [18]
That’s the bullish framing. The skeptical framing is equally standard for biotech: revenue assumptions are hypothetical until the FDA decision, label, launch, and payer coverage are real.
What’s next for VRDN stock: the 2026 catalyst map investors are pricing in
From here, the VRDN stock narrative is likely to revolve around a few concrete milestones:
- FDA progress on the veligrotug BLA
Viridian has disclosed the BLA submission and that it requested Priority Review. [19]
What investors will watch next is the FDA’s procedural cadence: filing acceptance, review designation/timeline, and eventually the approval decision. - VRDN-003 topline Phase 3 data (H1 2026)
Enrollment is complete, and topline results are expected in the first half of 2026. [20]
These readouts matter because they can define whether Viridian has a second, potentially more convenient TED product that extends the franchise. - Europe regulatory planning
Viridian has indicated it is on track to submit a Marketing Authorization Application (MAA) to the EMA in Q1 2026. [21] - Competitive updates in TED
The argenx discontinuation is a fresh example of how quickly competitive pressure can rise—or evaporate—in drug development. [22]
Risks that still matter (even when the stock is ripping)
When Viridian Therapeutics stock is printing new highs, it’s tempting to treat the story as “inevitable.” Biotech, of course, exists to punish that kind of certainty.
Key risks that remain very real:
- Regulatory risk: A BLA submission is not an approval. Outcomes can hinge on manufacturing, labeling, safety signals, and how the FDA weighs the totality of evidence. [23]
- Commercial execution: Even with approval, uptake depends on payer decisions, physician comfort, patient experience, and differentiation versus established options.
- Pipeline readout risk: VRDN-003 Phase 3 results could support (or challenge) the broader TED franchise narrative. [24]
- Valuation sensitivity: Like many development-stage biotechs, VRDN trades largely on forward expectations. Popular market data providers show valuation multiples that can look “rich” relative to current revenue, which can amplify volatility if expectations wobble. [25]
Bottom line: Viridian Therapeutics stock is pricing a clearer TED runway—but the real tests are still ahead
On December 15, 2025, Viridian Therapeutics, Inc. stock is moving like the market believes 2026 could be a defining year: a potential FDA decision path for veligrotug, pivotal data for VRDN-003, and a competitive landscape that may be shifting after argenx discontinued its Phase 3 TED studies for futility. [26]
That combination—catalysts + cash + fewer rivals—is basically the biotech trifecta for a momentum phase. Whether VRDN stock can hold these levels (or go further) will likely depend on how those 2026 milestones resolve, and whether Viridian can turn clinical promise into real-world adoption.
References
1. ca.investing.com, 2. www.globenewswire.com, 3. investors.viridiantherapeutics.com, 4. investors.viridiantherapeutics.com, 5. investors.viridiantherapeutics.com, 6. investors.viridiantherapeutics.com, 7. www.investing.com, 8. www.investing.com, 9. www.investing.com, 10. www.nasdaq.com, 11. www.gurufocus.com, 12. www.marketbeat.com, 13. investors.viridiantherapeutics.com, 14. investors.viridiantherapeutics.com, 15. investors.viridiantherapeutics.com, 16. investors.viridiantherapeutics.com, 17. investors.viridiantherapeutics.com, 18. investors.viridiantherapeutics.com, 19. investors.viridiantherapeutics.com, 20. investors.viridiantherapeutics.com, 21. investors.viridiantherapeutics.com, 22. www.globenewswire.com, 23. investors.viridiantherapeutics.com, 24. investors.viridiantherapeutics.com, 25. finance.yahoo.com, 26. investors.viridiantherapeutics.com
