Viridian Therapeutics Q1 2023 Earnings Call Transcript

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Provided by Quartr
May 9, 2023

There are 14 speakers on the call.

Operator

To the Viridian Therapeutics First Quarter 2023 Conference Call. At this time, all participants are in a listen only mode. Later, we will conduct a question and answer session and instructions will be given at that time. As a reminder, this conference is being recorded. I would now like to hand the call over to Ms.

Operator

Louisa Stone, Manager of Investor Relations for Viridian. Please go ahead.

Speaker 1

Thank you, and welcome, everyone, to our Q1 2023 Earnings Conference Call. The press release reporting our financial results and corporate updates is available on the Investors page of our corporate website at www.veridiantherapeutics.com. Joining me on the call this afternoon are Scott Meyers, Our President and Chief Executive Officer Christian Huemer, our Chief Financial and Business Officer Doctor. Diva Rajagopalan, Our Chief Product and Strategy Officer Doctor. Tom Chula, our Chief Development Officer and Todd James, Senior Vice President, Corporate Affairs and Investor Relations.

Speaker 1

Before we begin, I would like to remind everyone that this conference call and webcast We'll contain forward looking statements regarding our financial outlook in addition to regulatory, product development and commercialization plans and research These statements are subject to risks and uncertainties that could cause actual results to materially differ from those forecasted. A description of these risks can be found in our most recent Form 10 Q and 10 ks on file with the SEC. I would now like to turn the call over to Scott Meyers, our President and CEO.

Speaker 2

Thank you, Lisa. Good afternoon, everyone. Thanks for joining us today. We had a productive quarter, and I'm excited to report on our progress Today after completing my 1st 3 months as Viridian's President and CEO. 2023 is an important year for Viridian, A year that includes key milestones in all of our clinical programs.

Speaker 2

I'm proud of all the progress our company has made thus far and looking forward Our team has grown rapidly throughout the Q1, and we made several key hires on our senior leadership team, helping to strategically position us for future success. Additional details can be found in the press release we issued earlier today, but these hires include Tony Casciano, Viridian's 1st Chief Commercial Officer Doctor. Tom Chula, Chief Development Officer Doctor. Felix Geissler, Senior Vice President of Medical Affairs And Doctor. Eric Kupperman, Vice President, Program Leadership.

Speaker 2

Each of these individuals have already made valuable contributions to the organization We'll be integral leaders for our company as we continue to expand our teams, mature as an organization and prepare for future success. I'll now review the progress we made in our clinical programs during the Q1, then Christian Huemer, our CFO, will discuss our financial results before we take your questions. Let's begin with our TED program, starting with our lead asset, DRDN001, a humanized monoclonal antibody administered intravenously Once every 3 weeks, which acts as a full antagonist of insulin like growth factor 1 receptor or IGF-1R. In the second half of twenty twenty two and at the beginning of this year, we reported a series of positive top line clinical data announcements from 3 dose cohorts of the Phase 1, 2 clinical trial evaluating the safety and efficacy of BRDN001 in patients with active TED. In December 2022, our team initiated the global Phase 3 THRIVE trial, which will evaluate the efficacy and safety of BRDM001 In patients with active TED, based on our recent discussions with key stakeholders in the TED community, there is particular enthusiasm for our shortened 5 dose 12 week treatment regimen of BRDN001 compared with the 8 dose 21 week regimen of FDA approved TEPESINT.

Speaker 2

Success in the 5 dose arm has the potential to provide welcome convenience to patients by shortening their treatment course and eliminating 3 trips to an infusion center. Enrollment is ongoing and we continue to anticipate reporting top line results from Thrive in the middle of 2024. Moving to chronic TED, we are excited to announce that our proof Concept study evaluating BRDN001IV in patients with chronic TED is fully enrolled. As a reminder, the trial design in chronic TED is Similar to our proof of concept design that we used in ActiveTED, 2 infusions of VRDN001, 1 at day 1 and the second at day 21 With evaluation of safety and clinical activity at week 6, there are 2 of those cohorts, 10 mgs per kg and 3 mgs per kg will target enrollment of 8 patients In each cohort, randomized 3 to 1 in favor of VRDN001 versus placebo. Inclusion criteria include any clinical activity score at baseline.

Speaker 2

We expect to report results from both dose cohorts of this proof of concept trial in either June or July. Following the results, we plan to start our 2nd global Phase 3 trial THRIVE-two to evaluate the safety and efficacy of BRDN001 in patients with chronic TED. Top line results from THRIVE-two are expected by the end of 2024. I'd now like to move to our subcutaneous programs, which include VRDN001, VRDN002 and VRDN003. All three candidates have the potential to be developed for delivery with a patient friendly self administered pen device, which could significantly increase access, Reduce burden and expand treatment options for patients living with TED.

Speaker 2

We plan to select one of these candidates as our lead subcutaneous program before the end of the year. With our many learnings from BRDN001 IV preclinical and clinical work, we believe that the differentiated mechanisms and actions with full antagonism of IGF-1R Achieved by BRDN001 and BRDN003 make either of them the most likely to bring a best in class subcutaneous product to patients. As a result, the trial evaluating BRDN002 in patients with TED will only proceed in 2024 if BRDN002 is selected as the lead This allows us to keep VRDN002 as a potential backup, While steadfastly focusing on advancing our efforts with BRDN-three and BRDN-one. I will now highlight the upcoming priorities to get the subcutaneous lead program selection by year end. For VRDN001, Phase 1 results in healthy volunteers are In the Q4 of 2023, for VRDN002, we continue to generate data from the ongoing Phase 1 healthy volunteer trial.

Speaker 2

For VRDN003, our plans remain on track to file the investigational new drug application with the FDA during the Q2. We expect Phase 1 results in healthy volunteers in the Q4 of 2023. After the lead subcutaneous candidate is selected, we Expect to advance the program to a pivotal Phase twothree trial, which is planned for the middle of 2024. Last month, our team was thrilled to present multiple at the 2023 Association of Research in Vision and Ophthalmology Annual Meeting. A platform presentation featured data from our Phase onetwo trial of BRDM001 And patients with active TED, while the poster presentations featured new clinical and preclinical research on BRDN002 and BRDN003.

Speaker 2

This marks the company's first presentation of BRDN-three Research at a Medical Congress, an exciting milestone in the program's development. Our team looks forward to presenting at additional medical congresses and further engaging with TED patient and physician communities throughout this year. Finally, we continue to advance our earlier stage preclinical pipeline and will expand our disease focus beyond TED and into the rare and autoimmune space. Our preclinical programs include BRDN-four, five and six. Yesterday, we announced a partnership with Enable Injections to utilize their EnFuse on body drug delivery system for one of our preclinical programs.

Speaker 2

We plan to provide additional information on at least one of the programs later this year. With that, I will turn the call over to Christian, who will provide a financial review for the Q1 of 2023. Christian?

Speaker 3

Thank you, Scott. Good afternoon, everyone. I'd like to refer you to our press release issued earlier today for a detailed summary of our financial results for the Q1 2023 and take this opportunity to review a few items. We ended the Q1 with approximately $373,900,000 in cash, cash equivalents and short term investments, compared with $424,600,000 As of December 31, 2022, we believe that our current cash, cash equivalents and short term investments, Excluding our $75,000,000 credit facility, we'll be sufficient to fund our operations into the second half of twenty twenty five. Research and development expenses were $50,700,000 during the Q1 of 2023 compared with $17,700,000 for the same period last year.

Speaker 3

Research and development expenses for the Q1 of 2023 Include a one time $15,000,000 upfront payment to Enable in consideration for the rights granted to Viridian To utilize Enable Injection's Infu's On Body Drug Delivery System. Other drivers for the increase in research and development expenses Include higher C and C expenses in preparation for the IND application for BRDN003 as well as development activities, Higher personnel costs due to an increase in headcount, higher preclinical costs due to early stage collaboration expenses. As of May 1, 202023, Viridian had approximately 58,000,000 shares of common stock outstanding on an as converted basis. With that, I'll ask the operator to open the call for questions. Operator?

Operator

Thank you. Your first question is from the line of Derek Archila with Wells Fargo. Congrats

Speaker 4

on the progress. Maybe just two questions from us. Maybe just first, can Just talk about the variables that could lead the product data coming out in July versus in the Q2? Then also, just your thinking on the Market opportunity given what we saw from Horizon recently in their quarter results. I mean, do you think anything has changed in the Or do you kind of chalk that up to deal related things going with

Speaker 5

the ongoing Amgen deal? Thanks.

Speaker 6

Yes. Thanks, Derek, for the question. This is Scott. We're expecting a real high probability that we're going to see clinical activity in chronic TED because it's been Confirmed by the recent Horizon data, they were able to post a 62% And very meaningful response with a 2 millimeter reduction in proptosis. Our trial is evaluating the activity with only Two doses of PRD-one to establish the proof of concept and reduction of proptosis of less than 2 Millimeter, excuse me, would be still be very meaningful because we still plan to evaluate the longer doses in THRIVE-two.

Speaker 6

We're very pleased with what's happened in that trial. We've actually over enrolled the 3 mg per kg cohort. So once we get the process rolling where we bring in all the information from the CRO, from the sites, the MRIs, We're going to need some time to really look through that and make sure it's right. And then we'll be ready to announce either June or July. And then with regard to your second question was about what we saw in the horizon data, we thought it was actually very good data for patients Suffering from chronic TED and there's still a very large unmet need in that population because surgical intervention is really all

Speaker 2

they have left Unless

Speaker 6

they use a systemic treatment. We look forward to seeing some more of their information when they are able to release around Patient baseline characteristics, the efficacy endpoints and some of the safety because this was the first placebo controlled data in this chronic population. And then we look forward to reporting our data in June or July of this year. And as a reminder though, our study was set up slightly differently. It was For patients with proptosis of greater than or equal to 3 millimeters above normal values and then symptoms that had presented themselves after 1 year of steady Excuse me, prior to study screening.

Speaker 6

And just a reminder, we did not have a CAS requirement, Whereas Horizon used a 0 or 1 for CAS. We are enrolling 2 cohorts there, as I mentioned before, with BRD and 1. There's a 10 mg Kig cohort and a 3 mg per kg cohort randomized at 3:one versus placebo and there was staggered enrollment, the 10 mg per kg arm Enrolled first with the 3 to follow. As I said, it was over enrolled. So there's only 2 infusions in each of those At day 1 and then again at day 21, which is Q3 weekly.

Speaker 6

And then the results will be at day 42 week 6. So, good news from the Horizon data. We think that their results will play well in the marketplace with that 2 millimeter reduction and that will help them hopefully get more coverage decisions from insurance companies and with their broader label that that will create a really nice

Speaker 7

Derek, this is Todd. As far as things that could be potentially impacting Sales are what was potentially driving a reduction from Q4 to Q1. We think As far as how Horizon was investing in the market as far as expanding their sales force, The direct to consumer advertising as well as the patient and physician support around trying to expedite Market access and reimbursement for patients is absolutely great places to invest in. But I think to your point Around potential distraction, around an M and A process as that was taking place In public headlines, certainly not helpful when you're trying to make in flight operational changes to impact The sales trajectory of a drug, the chronic data that Scott just described will certainly help as far as Being able to have educated and aware physicians and payers to hopefully drive additional sales In the chronic marketplace, but I'd also just point out that integration isn't easy either. And so, people should probably expect some additional impact over the next couple of quarters as Amgen is integrating the Horizon team.

Speaker 7

And then with chronic, those changes that were being made, I think we should be able to return to growth either later this year or early next year And see, the Tepesa sales pick up again.

Speaker 2

Got it. Thanks so much

Speaker 4

for the color and congrats on the progress.

Speaker 7

Thanks, Derik.

Operator

Your next question is from the line of Alex Thompson with Stifel.

Speaker 5

Hey, thanks for taking my question. I guess a couple from me. Maybe could you talk about whether the path forward with 1 sub Q to bridge PK if you have successful IV trials potentially on the markets faster. And then maybe as a follow-up to Derek's question, what are your current expectations around your label? Do you expect to get sort of the old Tepesza label or do you expect A path forward for you to get the new label upon approval and if so, how that might impact the commercial opportunity?

Speaker 5

Thanks.

Speaker 7

Hey, Alex. Yes. So for the second one, both the THRIVE and the THRIVE II study are going to be supportive of the BLA. And so then we would expect then that to translate into a broad TET label similar to what you're seeing today With the TIBSA label and sorry, could you repeat your first question? Yes, I guess.

Speaker 7

The OE one step. Yes. So the current way that we're thinking about it is really separate programs of IV versus sub So we're moving ahead with Thrive and Thrive 2 to set up for approval with the IV and then we're going to select The lead candidate in subcu, which based off of everything that we're seeing today, 3 looks like it would have the best profile from The binding affinity of 1 along with the half life extension of 2, if there were a way for us to bridge From 1 sub Q from IV to sub Q that's certainly We'll evaluate in the future, but currently no plans to update you on that right now.

Speaker 5

Great. Thanks.

Operator

Your next question is from the line of Gavin Park with Gartner.

Speaker 8

Hey, thanks for taking the questions. Had 2. First, I just wanted to make sure that if you do select 3, there's nothing else that could potentially slow you down, specifically wondering about any formulation, Manufacturing or preclinical toxicology work? And I'll come back for my second question.

Speaker 6

Yes. No, All three programs are right on track, and we're going to continue to evaluate them through the end of the year. And as of now, there's no issues with formulation Or the preclinical work that the healthy volunteer studies will be underway and will complete by the end of the year.

Speaker 7

And then we should be on track, Gavin. This is Todd. We should be on track to start a Phase twothree pivotal than for what other program is selected as the lead The middle of next year.

Speaker 8

All right. That's super helpful. And then separately on the partnership for the OnBody system I just wanted to clarify, was that for the next preclinical program that's going to be unveiled Or is that for an earlier preclinical program that is still to be discussed?

Speaker 6

That's for one of the 3 programs we're currently Developing and it will have nothing to do with TED whatsoever. So it will be for the one of those new 3.

Speaker 8

Got it. Thanks.

Speaker 6

Welcome.

Operator

Your next question is from the line of Thomas Smith With SVB Securities.

Speaker 5

Hey, guys. Good afternoon. Thanks for taking our questions. A couple on our end. I was wondering if you could provide any additional color on how the THRIVE trial is enrolling at this point and how that enrollment is Tracking relative to your initial modeling.

Speaker 5

And then secondly, I understand the difference between the inclusion criteria between your study and the horizon study, but I was just wondering do Any visibility into the baseline characteristics of the chronic character to concept cohorts and whether this is tracking towards more of a Sort of a low CAS population or kind of mid CAS patient population? Thanks.

Speaker 6

Yes. So With regard to the THRIVE study, we're really pleased that we could announce the first patient that was enrolled back in December. And We have more than 30 sites activated globally, but we're not giving any interim updates on the enrollment. And the second question was around that we don't we have not unblinded our baseline characteristics. I believe they have, but we have not.

Speaker 5

Okay, understood. Appreciate it. Thanks guys.

Operator

Your next question is from the line of Laura Chico with Wedbush Securities. Hey, good afternoon guys.

Speaker 9

Thanks very much for taking the questions. I just have And just kind of following up on the infused delivery system, understanding this is for other programs outside of Ted, but just kind of curious why the rationale for the Program and executing on this right now, just any, advantages or criteria you were looking for in terms of selecting this particular partner? And then secondarily, on the cash runway, just any commentary or additional color there on levers to extend that? I think R and D picked up a little bit if I'm reading things correctly here. I'm just trying to understand the expectations on the burn for the remainder of the year.

Speaker 9

Thank you.

Speaker 6

Yes. So I'll take the this is Scott. I'll take the first question and Christian will answer your second question. So the first one really goes around the hallmark and the philosophy of the company is if we can improve In a market that's been created around efficacy or potentially safety or mode of delivery, Those are 3 criteria that we take very near and dear and look hard to do that. And we believe this technology will help The compound that this is going to be put within our preclinical pipeline.

Speaker 6

Christian?

Speaker 10

Thank you. Laura? So, look, we've got cash a little bit under $374,000,000 We continue to guide Cash runway into the second half of twenty twenty five, what it funds on a program by program basis, it funds Basically both Thrive and Thrive 2 all the way through data at the end of 'twenty four and a little bit into 'twenty five. Our subcu program is funded It's true to what we're calling the bake off decision point at the end of this year where we will select the program to move forward into pivotal trials. Most importantly, pivotal trial prep is funded so that we can move expeditiously at the end of 2023 Into pivotal trials.

Speaker 10

Our non TET pipeline is all funded either through to candidate selection or IND filing, And you should expect us to unveil these programs 1 by 1 and we'll let the market decide what they want to fund. We have committed to unveiling at least 1 of the 3 programs on our pipeline one of our non TED programs on our pipeline chart Over the course of the rest of 2023.

Speaker 3

Kind of

Speaker 2

our

Speaker 10

Cash operating expenses in Q1 were slightly higher than they usually are, mostly due to kind of the Enable payment Of $15,000,000 you should expect slightly elevated expenses again in Q2 as we Initiate kind of Thrive 2 and after that should normalize again back to kind of a steady Data somewhere between $35,000,000 $45,000,000

Speaker 9

Thanks very much.

Speaker 10

Of course.

Operator

Your next question is from the line of Kopit Patel with B. Riley Securities.

Speaker 11

Yes. Hey, good afternoon. Thanks for taking the questions. Maybe one more on the market opportunity here for thyroid eye disease. I guess, based on your conversations With KOLs in this space, is there a backlog of chronic TED patients that are waiting to be treated?

Speaker 11

And do you think that it will sort of be a rapid up Taken the setting like we saw in the acute setting or would it be a slow build given the lower severity of the disease?

Speaker 6

Yes. Hi, this is Scott. I'll take the first part and maybe Tom Schuhler will add a little color because we've actually been out in the field quite a bit lately At the different conferences and visiting with our PIs and KOLs and learning about that. I think the belief is that there was a low hanging fruit Situation with the actives, but in the words of some of the physicians I spoke with, there are lines of chronic patients. I think The recent data that's been put out there bodes well with their broad label now and that they can As I mentioned before to get coverage decision, but I think we see there's really significant opportunity out there for market potential and to grow the market, Especially when we think about our 5 dose regimen that's as part of our THRIVE study, the physicians are really excited about that Even versus the 8 dose that's already available.

Speaker 6

And I think we really have the opportunity to grow the market with our subcu offering. So we'll have a very broad Approach to treating this disease is disease, excuse me, with whether people want to use an IV or a subcu. And then there's also the future of A lot of physicians are telling us around it's still 8 doses with TEPEZ, sort of an acute treatment for what appears now to be a chronic disease because the TEPESA data definitely showed that these chronic patients do present themselves even after having the disease in their criteria was 2 to 10 years and we've even heard longer than that And they are getting relief. But Tom, I don't know if you want to add some color. Sure.

Speaker 12

Yes, this is Tom Chula. So we as Scott mentioned, we've been to a variety of Congresses Recently, we were at the Association For Research in Vision and Ophthalmology, the North American Neuro Ophthalmology Society, In the North American Society of Academic Orbital Surgeons, where we had multiple presentations at each of these Congresses, Scott actually has attended and has met with Several of the investigators and KOLs and uniformly they're very enthusiastic about our multiple ascending dose Proof of concept study in acute TED, I think we've gotten lots of positive feedback about that data. We've also gotten a lot of positive feedback about Horizon's recent data in chronic TED and we see this as a win for patients suffering from What the KOLs and investigators have told us is that they do indeed have a backlog of patients and they many of them have asked to Take part in our clinical trial as investigators. So, we think there is a groundswell of optimism not only for Active, Ted, but for chronic, Ted, where there's a backlog, just as you've asked about.

Speaker 11

Okay. Got it. And can you give us a little more maybe more color between the selection of the right subcu candidate and the Timing of the start of that pivotal trial in mid-twenty 24, what steps are remaining to start that trial?

Speaker 6

Yes. So there are a couple of the 2 healthy volunteer studies is ongoing right now and we've even reported some of that information out at One of the more recent conferences and then the 3 and 1 healthy volunteer studies, which will be looking at bioavailability and safety. Those will be completed Early enough to have by the end of the year and then we'll line up all that information, make the decision about which one of the candidates we would move forward with. And then based on that information, we would then seek input from the stakeholders

Speaker 2

and Plan to start the trial

Speaker 11

midyear. Okay. Thank you.

Operator

Your next question is from the line of Jason Butler with JMP Securities.

Speaker 13

Hi. Thanks for taking the questions. Scott, you pointed to before the importance of the shortened treatment duration in the THRIVE study for the IV. Can you just talk about how that thinking rolls over to your planning for the subcu pivotal program and I guess also the chronic TED program? Thanks.

Speaker 6

Yes. So we are learning a lot about what's going on in the marketplace. And I would say the market It has changed pretty dramatically over the launch of TEPEZZA and how physicians are actually using these drugs. As I mentioned before, the way that It's kind of an acute treatment paradigm today where you give 8 doses and then at least that's how the label read And you see how it goes. But what you realize is, if the thyroid is not being controlled well and the Pathway is uncovered and not blocked by using a tipizilide compound.

Speaker 6

The symptoms of TED return. And so one of the things And one of the reasons we have the 5 dose regimen in there is, one, it's quicker to enroll and the patients When they if they see a result or not, they'll be able to roll over after their doses on to an active as we've seen before. But the physicians just really like the idea that you may be able to treat and induce a Response with TED at a lower number of doses and we also point to some of the side effects that show up on TEPEZRA in Those higher dose numbers and the flattening of the curve. So we actually believe we would start to see a couple of people would call it a Treat and retreat or it could be an induction and maintenance way and where we think we're very well positioned both with Our infused product line that will once it's approved obviously, but also subcu so then you put the treatment in the hands of the patient obviously after being diagnosed You just have a lot more flexibility so that and a lot better experience for the patients who don't have to go to infusion centers to be treated.

Speaker 6

So we actually see a pretty significant Paradigm shift that you could have sort of an induction phase where you get the acute signs and symptoms under control And then you go to a real maintenance paradigm where there are potentially with our technology, you could get to a Q4 weekly or once a month dosing In the hands of the patient and not seeing the caregiver, which we think is differentiated from at least the way we understand TEPESTA is going.

Speaker 2

And I guess just to follow-up on

Speaker 13

that then, are you hearing from physicians yet that they're employing that treat and retreat with So patients are getting treatment in the acute phase and then either retreated in a chronic phase or it just too early to say that? No.

Speaker 6

So I think you pretty much hit it right on the head actually. So what we started to hear anecdotally and then Multiple times from physicians who were treating during the pandemic, they couldn't get their full 8 doses because TEPEZZA had been sidelined for the COVID vaccines. So they were given limited number of doses and what they would do is give a few doses and then watch and see the result and have the patient return And then they still had a few more doses to give them or sometimes we've heard of they'll give people up to 5, basically send them home and say, stay in touch. And if you start To hear these excuse me, to feel these results will you can come back and we can infuse you again. So no, it is Almost turning into I heard from one physician, it's like give a few doses and then turn it into a PRN as the patient needs it.

Speaker 6

So we were picking up that intel and we do have the benefit of foresight versus hindsight. So we can use this intel Adjust how we go to market.

Speaker 2

Got it. Great. Thanks for taking the questions. Sure. Thank you.

Operator

Your next question is from the line of Rami Kaikoothra with Life Science.

Speaker 2

Hey, guys. Thanks for taking my questions as well. Two quick ones for me. I guess, first, is there anything specific that you're looking out for in the proof of concept chronic test study that can influence the THRIVE 2 protocol? And then secondly, in your conversations with physicians and payers, have market access or reimbursement considerations changed with TAPAZA after the chronic data?

Speaker 7

Yes. So specific to the chronic data and how that could impact the THRIVE 2, Phase 3 design. So we have, of course, some preliminary thinking of what that Phase 3 design could look like prior to the data. We recently got some very high level top line results from Horizon that was kind of helpful For us to think about how we can think about clinical activity, we'll then also be informed by the activity that we see in our trial. And then not one specific thing that I would kind of call out today, but we'll be fully informed by that data and kind of Relative to that preliminary thinking make any necessary considerations and impacts to the trial design, It's necessary to seek either KLL and or health authority feedback before we kick off the trial.

Speaker 7

Of course, we'll do that as well. As far as market access decisions following that chronic data from Horizon just Now 4 weeks ago, I think it's really too early for us to be getting intelligence around that. And so that's something we'll definitely be Listening to as far as for intelligence that we're getting from the marketplace and the survey work that We do. And of course, if we start to hear things, then it would be more appropriate To give you that intel, as we're hearing it real time.

Speaker 2

Got it. Thank you very much.

Operator

Your next question is from the line of Gavin Clark with Gartner.

Speaker 8

Hey, thanks for taking the follow-up here. I just wanted to circle back on the extended duration or retreatment dynamic that you just mentioned. Because today, a lot of the payer policies explicitly don't allow for more than 8 time Tepesza doses. I'm wondering how you approach Pricing and also what clinical data you need to show to allow for this dynamic in the future?

Speaker 6

Yes. So this would be obviously post approval approach we would take. But When you're going when you could shift out of a from a treat and retreat to induction and the maintenance, the pricing could be very different Because you have you might be using the subcu the whole time that way. So today, they are at 8, but with their broader label now and a retreatment, They could get they can resubmit for a reimbursement on the next bid. And instead of going 8 and 8 is what I've been referring to and have heard from a lot of the physicians is, This is a chronic disease and the label is basically now at any time you have TED, you can be treated with the drug.

Speaker 6

So It's I think people are struggling with using 8 and then 88 and then also with that very high dose, You could maybe if you use smaller doses like with our full antagonism, we are about a third at the 5 dose cohort and Not quite, about half of where they'll be with their 150 mgs per kg. So being able to dose With different dose regimens, whether it's subcu or treat and retreat with a lower number of infusion doses seems to be a preferred approach.

Speaker 8

I got it. Thanks so much.

Operator

At this time, we have reached the conclusion of the question and answer session. I would now like to turn the call back over to Viridian's President and CEO, Scott Myers, for closing remarks.

Speaker 6

Thank you, operator, and thanks everyone for your time this afternoon. Please feel free to reach out to Todd or Louisa if you have any follow-up questions, and we are happy to touch base with you. Thanks again, and have a great

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Earnings Conference Call
Viridian Therapeutics Q1 2023
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