Viridian Therapeutics (VRDN) stock popped Monday after the biotech company scored a win in thyroid eye disease, a condition that causes the eyes to swell.
After 15 weeks, 56% of patients saw an improvement in proptosis, or eye swelling. This beat out the 8% response rate in the placebo group and was in line with expectations for a 52% to 62% response rate, RBC Capital Markets analyst Gregory Renza said in a report.
Further, 56% of patients who received Viridian's veligrotug had improvement in diplopia, or double vision. Nearly a third of patients, 32%, experienced complete resolution of diplopia. In comparison just 25% of placebo patients showed any diplopia improvement and 14% has complete resolution.
The results compare favorably to Amgen's (AMGN) Tepezza, analysts said. In clinical testing, Tepezza didn't lead to any improvement in diplopia.
"Meaningful improvement in diplopia adds a key differentiator to Veli' over Tepezza, which we believe will shift the narrative from achieving an as-good profile to having a superior profile, in chronic TED patients," Renza said.
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