Viridian Therapeutics Inc

Shares of Viridian Therapeutics rose 6.3% over the past week after the FDA approved its thyroid eye disease therapy veligrotug, to be sold as Lumvoa. The approval came on June 26, 2026, four days ahead of the PDUFA target date, marking the company's transition to a commercial-stage biotech with its first approved product. Lumvoa is the first FDA-approved TED therapy with labeling that includes data in both active and chronic disease, expanding treatment eligibility. The approval was supported by positive phase III THRIVE and THRIVE-2 studies, which met primary and secondary endpoints, showing rapid improvements in proptosis and diplopia. Viridian also plans to submit a biologics license application in early 2027 for its subcutaneous TED candidate elegrobart, which met primary endpoints in two pivotal phase III studies.

Comcast shares surged 13% in premarket trading after the company announced plans to spin off NBCUniversal and Sky into a separate publicly traded company in a tax-free transaction expected to close within a year. Viridian Therapeutics climbed 10.2% following FDA approval of Lumvoa for thyroid eye disease, its first commercial product. Doximity fell 5.1% amid continued pressure from analyst price target cuts after weak fiscal 2027 revenue guidance. Verizon Communications gained 1% after agreeing with BT Group to combine international enterprise operations into a 50:50 joint venture serving over 3,000 multinational customers. SpaceX rose more than 1% on news it will join the Nasdaq-100 Index on July 7.

Viridian Therapeutics announced that the U.S. FDA has approved Lumvoa for the treatment of thyroid eye disease, marking the company's first commercial product. The approval was supported by the THRIVE and THRIVE-2 Phase 3 trials, which met all primary and secondary endpoints, showing significant improvements in eye bulging and double vision in patients with both active and chronic disease. Lumvoa is a full antagonist of IGF-1R and the first approved treatment with labeling that includes data for both active and chronic thyroid eye disease. The therapy is administered as a 12-week course and was granted Breakthrough Therapy Designation and Priority Review. Viridian's stock closed Friday at $17.90, up 2.93%, and rose to $19.81 in after-hours trading, a 10.67% increase.