Viridian Therapeutics, Inc. · NASDAQ:VRDN
Viridian Therapeutics — Investor Presentation (March 2026)
62 slides from Viridian Therapeutics's investor presentation, Mar 30, 2026
Slide 1: Corporate Presentation March 2026
Corporate Presentation March 2026 Exhibit 99.2
Slide 2: Forward-looking statements
This presentation contains forward-looking statements. These statements may be identified by the use of words such as, but not limited to, “anticipate,” “believe,” “become,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,” “on track,” “plan,” “potential,” “predict,” “pr
Slide 3: Viridian aspires to be a leading autoimmune company
Viridian aspires to be a leading autoimmune company… … starting with Best in TED In thyroid eye disease (TED), we aim to bring new treatment options to patients that address unmet needs and expand the number of treated patients
Slide 4: Continue to Advance and Expand Pipeline
Continue to Advance and Expand Pipeline * Planned; ** If approved. Ele = Elegrobart, FcRn = neonatal Fc receptor, IGF-1R = insulin-like growth factor-1 receptor, IND = investigational new drug application, POC = proof of concept, TED = thyroid eye disease, TSHR = thyroid stimulating hormone receptor
Slide 5: Primed for new entrants and growth
Primed for new entrants and growth Low penetration with currently approved product No subcutaneous option available commercially Recent WW approvals is expanding the global market New-start market dynamic Limited competitive development landscape with high bar set by IGF-1R inhibitors Current TED Ma
Slide 6: Viridian has a proven track record of execution
BLA = biologics license application, FcRn = neonatal Fc receptor, IND = investigational new drug application, TED = thyroid eye disease. Viridian has a proven track record of execution 1 $900 BLA submitted during the US government shutdown Secured access to up to ~$900M in capital in 2025, supportin
Slide 7: Thyroid Eye Disease and Autoimmune Portfolio
DISCOVERY PRECLINICAL PHASE 1 PHASE 2 PHASE 3 Anticipated Milestones Thyroid Eye Disease Portfolio Veligrotug Anti-IGF-1R; Intravenous Elegrobart Anti-IGF-1R; Subcutaneous Anti-TSHR Subcutaneous FcRn-Targeting Autoimmune Portfolio VRDN-006 FcRn-targeting Fc fragment VRDN-008 Bispecific, extended hal
Slide 8: Multiple anticipated value-creating catalysts in 2026
Veligrotug Intravenous Elegrobart Subcutaneous Anti-TSHR Subcutaneous FcRn inhibitor portfolio Subcutaneous Veligrotug PDUFA target date of June 30th and multiple additional anticipated value-creating catalysts portfolio-wide in 2026 2026 MAA Submission Jan 2026 PDUFA target date June 30, 2026 REVEA
Slide 9: Veligrotug Intravenous anti–IGF-1R
Veligrotug Intravenous anti–IGF-1R
Slide 10: TED is an autoimmune condition affecting tissues around the eyes
Sources: 1 George A et al. Front Endocrinol (Lausanne). 2021;11:629925., 2 Smith TJ et al. NEJM. 2016;375(16):1552–1565., 3 Bahn RS. NEJM. 2010; 362(8): 726–738., 4 Bartley GB et al. Am J Ophthalmol 1996;121(3):284–290., 5 Viridian-sponsored market research, includes active and chronic TED. TED pati
Slide 11: THRIVE and THRIVE-2 trial designs and Priority Review
CHRONIC TED Key Inclusion Criteria Proptosis of ≥3 mm Any CAS (0-7) Onset of TED symptoms >15 months Trial Design N = approx. 159 (actual enrollment: 188 patients) 15-week primary endpoint, 52-week total follow-up Double-masked, randomized, placebo-controlled ACTIVE TED Key Inclusion Criteria Propto
Slide 12: THRIVE: robust and consistent clinical activity in active TED
Achieved the primary and all secondary endpoints with high level of statistical significance (p < 0.0001) Source: Viridian THRIVE week 15 topline data on file (interim topline database lock) & week 52 data on file (final database lock). AE = adverse event, IGF-1R = insulin-like growth factor-1 recep
Slide 13: THRIVE-2: results in chronic TED
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). AE = adverse event, IGF-1R = insulin-like growth factor-1 receptor, IV = intravenous, TED = thyroid eye disease. THRIVE-2: Demonstrated robust and consistent clinical activity in the largest and broadest TED phas
Slide 14: Narrow call point supports small, efficient sales force
Narrow and well-defined call point supports small, efficient sales force Estimated ~2,000 core prescribers in the U.S.7 Tepro launched with field force of <100 sales reps8 Established market price and reimbursement pathway Current WAC price for tepro: ~$525K per complete treatment course in the U.S.
Slide 15: Launch-readiness ahead of June 30 PDUFA date
Veligrotug and elegrobart are investigational products that have not been approved by any regulatory authority; the safety and efficacy have not been established. Sources: 1 Viridian THRIVE data on file, 2 Viridian THRIVE-2 data on file, 3 Compared with current available anti-IGF-1R treatment option
Slide 16: Elegrobart (VRDN-003) Subcutaneous anti–IGF-1R
Elegrobart (VRDN-003) Subcutaneous half-life extended anti–IGF-1R
Slide 17: Elegrobart potential first subcutaneous autoinjector in TED
Source: 1 Teprotumumab Prescribing Information, 2 Planned product profile, including planned clinical dosing regimen. IGF-1R = insulin-like growth factor-1 receptor, IV = intravenous, Q4W = every 4 weeks, Q8W = every 8 weeks, SC = subcutaneous. Elegrobart has the potential to be the first subcutaneo
Slide 18: REVEAL-1 and REVEAL-2 form the pivotal program
CAS = clinical activity score, mm = millimeter, TED = thyroid eye disease. REVEAL-1 and REVEAL-2 in active and chronic TED, respectively, form the foundation of elegrobart pivotal program Reported REVEAL-1 topline results in March, with REVEAL-2 expected in Q2 2026 CHRONIC TED Key Inclusion Criteria
Slide 19: REVEAL-1 met primary endpoint
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). AE = adverse event, IGF-1R = insulin-like growth factor-1 receptor, PRR = proptosis responder rate, Q4W = every 4 weeks, Q8W = every 8 weeks, TED = thyroid eye disease. REVEAL-1 in active TED patients met primary
Slide 20: REVEAL-1 trial design
1 600 mg loading dose given as two 300 mg injections; 2 Placebo injections administered at alternating study visits to maintain study masking across arms. D = day, mm = millimeter, Q4W = every 4 weeks, Q8W = every 8 weeks, TED = thyroid eye disease, W = week. REVEAL-1 is a phase 3 randomized, contro
Slide 21: REVEAL-1 patient disposition
REVEAL-1 is the largest pivotal clinical trial conducted in active TED to date Randomized Patients (n = 132) Elegrobart Q4W (n = 44) Placebo (n = 44) Elegrobart Q8W (n = 44) Completed Randomized Treatment (n = 35) Completed Randomized Treatment (n = 41) Completed Randomized Treatment (n = 43) Discon
Slide 22: REVEAL-1 baseline characteristics
7.8 Elegrobart Q4W (n = 44) Elegrobart Q8W (n = 44) Placebo (n = 44) Participant Demographics Age in years, mean (SD) 52.6 (12.1) 48.1 (12.4) 48.5 (12.9) Female sex, n (%) 35 (80%) 34 (77%) 35 (80%) White race, n (%) 36 (82%) 36 (82%) 35 (80%) Disease Characteristics Months since TED onset, mean (SD
Slide 23: REVEAL-1 week 24 endpoint results
Elegrobart (n = 44 per arm) Placebo (n = 44) p-value Primary Endpoint Q4W FDA: Proptosis responder rate (exophthalmometry)1 54% 18% p < 0.0001* EMA: Overall responder rate (ORR)2 51% 16% p = 0.0001* Key Secondary Endpoints Q4W Proptosis mean change from baseline (exophthalmometry) -2.33 mm -0.81 mm
Slide 24: REVEAL-1 proptosis responder rate over time
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). Primary endpoint was statistically significant. PRR at time points prior to week 24 were prespecified exploratory endpoints. Results at all time points and across both treatment arms prior to week 24 were nominal
Slide 25: REVEAL-1 proptosis mean change from baseline
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). The key secondary endpoint of mean change from baseline at week 24 for Q4W arm was statistically significant. Proptosis mean change from baseline at time points prior to week 24 were prespecified exploratory endp
Slide 26: REVEAL-1 proptosis by MRI
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). PRR and proptosis mean change from baseline at all time points prior to week 24 were prespecified exploratory endpoints. Results at all time points and across both treatment arms were nominally significant (p < 0
Slide 27: REVEAL-1 diplopia responder and resolution
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). Diplopia responder rate and diplopia complete resolution at time points prior to week 24 were prespecified exploratory endpoints. Q4W = every 4 weeks, Q8W = every 8 weeks. Diplopia responder rate and complete res
Slide 28: REVEAL-1 safety overview
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). 1 2 participants with 3 Gr3 SAEs: dehydration due to norovirus (unrelated), headache with left-ear tinnitus (related); 2 2 participants with 4 Gr3 SAEs: three abscesses (unrelated), pulmonary embolism (unrelated)
Slide 29: REVEAL-1 adverse events
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). 1 Includes multiple terms aggregated using standard sets of MedDRA terms; 2 All ISRs were Grade 1 except for one Grade 2 in Q8W arm (erythema), and majority of ISRs were erythema; 3 All hearing impairment events
Slide 30: REVEAL-1 summary
Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). AE = adverse event, IGF-1R = insulin-like growth factor-1 receptor, PRR = proptosis responder rate, Q4W = every 4 weeks, Q8W = every 8 weeks, TED = thyroid eye disease. REVEAL-1 in active TED patients met primary
Slide 31: REVEAL-2 in chronic TED on track for Q2 2026
REVEAL-2 in chronic TED, the second pivotal phase 3 study for elegrobart, is on track for topline data readout in Q2 2026 CAS = clinical activity score, mm = millimeter, TED = thyroid eye disease. CHRONIC TED Patients without response at 24 weeks may receive open-label elegrobart Trial Design N = 19
Slide 32: Multiple differentiated treatment solutions for TED in one portfolio
1 Veligrotug and elegrobart are investigational products that have not been approved by any regulatory authority. The safety and efficacy have not been established. Teprotumumab Prescribing Information, 2 Planned product profile, including planned clinical dosing regimen. Veligrotug and elegrobart a
Slide 33: FcRn Inhibitor Portfolio
WE VIRIDIAN FcRn Inhibitor Portfolio
Slide 34: Pathogenic autoantibodies drive autoimmune disease
Pathogenic autoantibodies cause inflammation and damage to healthy tissues and cells, driving the pathology of autoimmune diseases1 Serum levels of pathogenic autoantibodies are maintained, in part, by FcRn-mediated recycling1 FcRn inhibition reduces pathogenic autoantibody levels1, with demonstrate
Slide 35: Viridian's FcRn inhibitors block FcRn recycling
Source: 1 Pyzik M et al. Nat Rev Immunol. 2023;23:415–432. Fc = fragment crystallizable, FcRn = neonatal Fc receptor, IgG = immunoglobulin G. Viridian’s portfolio of FcRn inhibitors aims to reduce circulating levels of pathogenic autoantibodies by blocking FcRn Fc fragment that blocks IgG from bindi
Slide 36: FcRn inhibitors are a large market opportunity
Projected WW MG and CIDP FcRn Market1 Source: 12024 revenues calculated from argenx (Vyvgart + Vyvgart Hytrulo), Zai Labs (Vyvgart), and UCB (Rystiggo) annual reported earnings; 2025 revenues calculated from preliminary argenx revenue disclosed in the January 12, 2026 press release (Vyvgart and Vyvg
Slide 37: FcRn portfolio potential to capture market share
Fc = fragment crystallizable, FcRn = neonatal Fc receptor, FIH = first in human, IgG = immunoglobulin G, IND = Investigational New Drug, LDL = low-density lipoprotein, NHP = non-human primate, YE = year-end. Viridian’s FcRn portfolio has the potential to capture significant market share in autoimmun
Slide 38: Appendix
Appendix 1) THRIVE in Active TED Pivotal Data 2) THRIVE-2 in Chronic TED Pivotal Data 3) FcRn Non-Human Primate Data
Slide 39: THRIVE in Active TED
THRIVE in Active TED Global phase 3 clinical trial pivotal data
Slide 40: THRIVE trial design
D = day, mm = millimeter, TED = thyroid eye disease, W = week. THRIVE is a phase 3 randomized, controlled, double-masked trial of veligrotug in active TED Treatment Phase (12-week treatment period with primary endpoint at 15 weeks) Veligrotug n = 75 D1 W3 W6 W9 W12 Placebo n = 38 Key: Veligrotug 10
Slide 41: THRIVE baseline characteristics
7.8 Veligrotug (n = 75) Placebo (n = 38) Participant Demographics Age in years, mean (SD) 48.9 (12.4) 49.1 (12.5) Female sex, n (%) 56 (75%) 31 (82%) White race, n (%) 51 (68%) 19 (50%) Disease Characteristics Months since TED onset, mean (SD) 7.9 (3.7) 7.2 (3.8) Baseline proptosis by exophthalmomet
Slide 42: THRIVE week 15 endpoint results
Veligrotug (n=75) Placebo (n=38) p-value Proptosis Primary Endpoint: Proptosis responder rate (exophthalmometry)1 70% 5% p < 0.0001 Proptosis mean change from baseline (exophthalmometry) -2.89 mm -0.48 mm p < 0.0001 Diplopia Diplopia complete resolution2 54% 12% p < 0.0001 Diplopia responder rate3 6
Slide 43: THRIVE proptosis responder rate
Source: Viridian THRIVE week 15 topline data on file (interim topline database lock). Results at time points before week 15 are from post-hoc analyses and are for descriptive purposes only. mm = millimeter, PBO = placebo. Primary endpoint of proptosis responder rate met at 15 weeks: 70% for patients
Slide 44: THRIVE diplopia resolution and CAS
Source: Viridian THRIVE week 15 topline data on file (interim topline database lock). Results at time points before week 15 are from post-hoc analyses and are for descriptive purposes only. CAS = clinical activity score. Majority of patients receiving veligrotug had complete resolution of diplopia a
Slide 45: THRIVE Hertel vs MRI/CT consistency
Source: Viridian THRIVE week 15 topline data on file (interim topline database lock). CT = computed tomography, IGF-1R = insulin-like growth factor-1 receptor, mm = millimeter, MRI = magnetic resonance imaging. THRIVE demonstrated consistency between Hertel and MRI / CT and validates both as reliabl
Slide 46: THRIVE safety overview
Source: Viridian THRIVE week 15 topline data on file (interim topline database lock). 1 6 unrelated SAEs in 4 participants: cellulitis, appendicitis, dyspnoea, hyperthyroidism, aortic dissection (planned surgery for known Type B aortic dissection), depression (diagnosed prior to 1st dose); Includes
Slide 47: THRIVE adverse events
Source: Viridian THRIVE week 15 topline data on file (interim topline database lock). 1 Includes multiple terms aggregated using standard sets of MedDRA terms, 2 Reported as percentage of menstruating women. AE = adverse event, MedDRA = medical dictionary for regulatory activities. Veligrotug was ge
Slide 48: THRIVE week 52 durability
Source: Viridian THRIVE week 52 data on file (final database lock). 1 Responders at week 15 who still had at least a 2-millimeter (mm) reduction in proptosis compared to baseline at week 52, without worsening in the fellow eye (≥2 mm increase), as measured by exophthalmometry. Definition of durabili
Slide 49: THRIVE-2 in Chronic TED
THRIVE-2 in Chronic TED Global phase 3 clinical trial pivotal data
Slide 50: THRIVE-2 trial design
D = day, mm = millimeter, TED = thyroid eye disease, W = week. THRIVE-2 is a phase 3 randomized, controlled, double-masked trial of veligrotug in chronic TED Treatment Phase (12-week treatment period with primary endpoint at 15 weeks) Veligrotug n = 125 D1 W3 W6 W9 W12 Placebo n = 63 Key: Veligrotug
Slide 51: THRIVE-2 baseline characteristics
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). Note: all proptosis & CAS reported values and endpoints in the data analysis are based on study eye (defined as eye with greater proptosis at baseline). 1 Of participants with diplopia at baseline. CAS = clinical
Slide 52: THRIVE-2 week 15 endpoint results
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). 1 Percentage of participants with ≥2 mm reduction in proptosis from baseline in the study eye, without deterioration in the fellow eye (≥2 mm increase), 2 Percentage of participants achieving a reduction of at le
Slide 53: THRIVE-2 proptosis responder rate
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). Results at time points before week 15 are from prespecified, exploratory endpoint analyses. Statistically significant proptosis responder rate at all time points, including at 3 weeks, after just one infusion of
Slide 54: THRIVE-2 diplopia response and resolution
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). Results at time points before week 15 are from prespecified, exploratory endpoint analyses. TED = thyroid eye disease. THRIVE-2 is the first phase 3 study in patients with chronic TED to demonstrate statistically
Slide 55: THRIVE-2 Hertel vs MRI/CT consistency
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). Study eye is defined as eye with greater proptosis at baseline, as measured by corresponding measurement modality (i.e., Hertel study eye for Hertel endpoints, and MRI / CT study eye for MRI / CT endpoints). CT =
Slide 56: THRIVE-2 safety overview
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). 1 3 SAEs in 3 participants: Grade 3 vertigo (related), Grade 2 arthralgia (unrelated), Grade 2 metabolic encephalopathy (unrelated); 2 2 SAEs in 2 participants: Grade 3 urticaria (related), Grade 3 fatigue (unrel
Slide 57: THRIVE-2 adverse events
Source: Viridian THRIVE-2 week 15 topline data on file (interim topline database lock). 1 Terms aggregated utilizing methodology used by FDA for approved products for treatment of thyroid eye disease, 2 Reported as percentage of menstruating women. AE = adverse event. Veligrotug was generally well-t
Slide 58: FcRn Non-Human Primate Data
WE VIRIDIAN FcRn Non-Human Primate Data
Slide 59: VRDN-006 in vitro and NHP data vs efgartigimod
Non-human primates (NHPs) were dosed with IV bolus of 20 mg/kg VRDN-006, 20 mg/kg efgartigimod (internally generated benchmark), or buffer vehicle every 4 days for 4 doses. Source: Viridian data on file. IgG = Immunoglobulin G, IV = intravenous, NHP = non-human primate, PK = pharmacokinetics, WT Fc
Slide 60: VRDN-006 spares albumin and LDL
VRDN-006 Spares Albumin VRDN-006 Spares LDL Non-human primates (NHPs) were dosed with IV bolus of 20 mg/kg VRDN-006, 20 mg/kg efgartigimod (internally generated benchmark), or buffer vehicle every 4 days for 4 doses. Source: Viridian data on file. CFB = change from baseline, IV = intravenous, LDL =
Slide 61: VRDN-008 longer half-life and deeper IgG reduction vs efgartigimod
VRDN-008 Showed ~3x Longer Half-life Head-to-Head vs. Efgartigimod in NHPs VRDN-008 Showed ~20% Deeper and More Sustained IgG Reduction Head-to-Head vs. Efgartigimod in NHPs v Non-human primates (NHPs) were given equimolar doses of 60 mg/kg VRDN-008, 48.5 mg/kg efgartigimod (internally generated ben
Slide 62: VRDN-008 spares albumin and LDL
VRDN-008 Spares Albumin VRDN-008 Spares LDL Non-human primates (NHPs) were given equimolar doses of 60 mg/kg VRDN-008, 48.5 mg/kg efgartigimod (internally generated benchmark), or buffer vehicle - all via IV bolus. Source: Viridian data on file. IV = intravenous, LDL = low-density lipoprotein, NHPs
Viridian Therapeutics, Inc.\DE — Investor Presentation (March 2026) on 6ix