VRDN-001 is a monoclonal antibody commercialized by Viridian Therapeutics, with a leading Phase III program in Graves’ Ophthalmopathy. According to Globaldata, it is involved in 6 clinical trials, of which 1 was completed, 3 are ongoing, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of VRDN-001’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for VRDN-001 is expected to reach an annual total of $762 mn by 2037 in the US 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-001 Overview

AVE-1642 was under development for the treatment of recurrent, refractory multiple myeloma, advanced or metastatic liver carcinoma and advanced hormono-dependent breast cancer. AVE1642 is administered as an intravenous infusion. AVE1642 is a humanized monoclonal antibody directed against the human insulin-like growth factor-1 receptor (IGF-1R/CD221) with potential antineoplastic activity. The drug candidate is developed by using proprietary TAP technology.

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. Viridian 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$3 million for the fiscal year ended December 2021 (FY2021), compared to a revenue of US$1.1 million in FY2020. The operating loss of the company was US$79.7 million in FY2021, compared to an operating loss of US$110.4 million in FY2020. The net loss of the company was US$79.4 million in FY2021, compared to a net loss of US$110.7 million in FY2020. The company reported revenues of US$1.2 million for the third quarter ended September 2022, compared to a revenue of US$0.3 million the previous quarter.

For a complete picture of VRDN-001’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.

GlobalData

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.