Viridian Therapeutics' Lumvoa Off to 'Stronger Start' Than Anticipated, RBC Says

MT Newswires Live09-22

Viridian Therapeutics' (VRDN) Lumvoa is off to a "stronger start" than anticipated, RBC Capital Markets said in a Tuesday note.

RBC analysts talked with six key opinion leaders about the drug, which treats Thyroid Eye Disease, and discovered that it has had good early uptake so far. Half of the doctors have written at least one prescription for the drug since its launch on June 26, and a third have reported infusing at least one patient, the analysts noted.

The evidence of early adoption suggests that physicians are enthusiastic about gaining experience with Lumvoa and seeing how it stacks up against competing treatment Tepezza on efficacy and safety, the analysts said.

Rather than clinical reluctance, the main headwind for Lumvoa in the near term is challenges with access; a permanent J-code to avoid insurance delays still is to come and there have been formulary delays at academic centers, according to the note.

RBC reiterated the company's stock rating at outperform, speculative risk, and raised the price target to $38 from $36.

Price: 21.98, Change: +0.40, Percent Change: +1.85

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