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Gotrade News - Viridian Therapeutics (VRDN) reported third-quarter 2026 net product revenue of $24.7 million from Lumvoa, its approved thyroid eye disease treatment, on Wednesday, November 4, 2026, alongside a net loss of $101.2 million, according to Viridian's official release filed with the SEC.
Regular-session close on November 4, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Market cap: that close times the shares outstanding on the latest 10-Q or 10-K cover (SEC EDGAR).
Viridian Therapeutics Earnings Details
Net product revenue for Lumvoa was $24.7 million in the three months ended September 30, 2026, and Viridian did not record net product revenue in the same period of 2025, the release said. More than 100 patients were on therapy with Lumvoa as of September 30, 2026. "We are highly encouraged by the strength of Lumvoa's early launch in TED, which has exceeded expectations," said Steve Mahoney, President and Chief Executive Officer.
Research and development expenses were $70.1 million, compared with $86.3 million in the third quarter of 2025, which the company attributed mainly to reduced spending on veligrotug and elegrobart clinical studies. Selling, general and administrative expenses were $57.6 million, compared with $24.3 million a year earlier, driven by personnel costs and professional services to support Lumvoa's commercial activities, according to the company. Net loss was $101.2 million, compared with $34.6 million in the same period of 2025.
Cash, cash equivalents and marketable securities were $955.2 million as of September 30, 2026. The company said existing cash and anticipated future commercial revenues from Lumvoa and elegrobart, if approved, are expected to fund its current business plans through profitability.
Why It Matters for VRDN
The quarter was Lumvoa's first quarter of launch, according to the release. The company also said CMS has assigned Lumvoa a permanent J-code, J3242, effective January 1, 2027.
Beyond Lumvoa, Viridian said it expects to submit a Biologics License Application to the U.S. FDA for elegrobart, its subcutaneous therapy candidate for thyroid eye disease, in the first quarter of 2027. In the fourth quarter of 2026, the company said it expects to share phase 1 healthy volunteer data for VRDN-008 along with development plans for its FcRn portfolio, and to start a phase 1 trial of VRDN-292 in patients with Graves' disease.
What to watch next: Viridian is scheduled to take part in a fireside chat at the Jefferies Global Healthcare Conference in London on Monday, November 16, 2026.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
