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ENGINEERING MEDICINES TO IMPROVE PATIENT CARE VIRIDIAN Corporate Presentation August 2026
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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,” “project,” “should,” “target,” “will,” or “would” or other similar terms or expressions that concern our expectations, plans and intentions. Forward- looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. Forward-looking statements include, without limitation, statements regarding: preclinical development, clinical development, and anticipated commercialization of Viridian’s product candidates elegrobart, VRDN-006, and VRDN-008; anticipated start dates of studies; anticipated data results and timing of their disclosure, including the anticipated VRDN-008 healthy volunteer clinical data; plans to communicate development plans for our product candidates; Viridian’s expectations regarding the anticipated timing or likelihood of regulatory submissions and approvals, including BLA submission for elegrobart in Q1 2027, MAA submission for veligrotug, and IND submission for an anti-TSHR product candidate in Q4 2026; that Viridian plans to submit a BLA for elegrobart with both dosing regimens; that Lumvoa and elegrobart could offer significantly improved anti-IGF-1R dosing profiles; that Lumvoa has the potential to redefine the treatment paradigm for TED patients; that physicians may prescribe Lumvoa immediately and rapid access to Lumvoa at launch; that a treatment course of elegrobart will be as few as three doses, if approved; the potential utility, efficacy, potency, safety, clinical benefits, clinical response, convenience and number of indications of Lumvoa, elegrobart, VRDN-006, VRDN-008 and Viridian’s anti-TSHR product candidate; the potential benefits of elegrobart for patients, including its potential to transform the treatment of patients with TED; Viridian’s expectations with respect to the market size and position, including with respect to patient adoption, of Lumvoa and its product candidates; Viridian’s expectations regarding the potential commercialization of elegrobart, if approved, including plans to launch elegrobart with a low-volume autoinjector; the potential for elegrobart to be first subcutaneous autoinjector in TED; Viridian’s ability to receive milestone payments pursuant to its third-party agreements; the potential for Lumvoa and elegrobart to transform the treatment for TED; the potential for elegrobart to be a treatment-of-choice in TED; elegrobart’s potential to expand the market for products in TED, if approved; potential market sizes and market opportunities for Viridian’s product candidates, including Viridian’s belief that Lumvoa is well-positioned to become a leading product in the TED market and its FcRn portfolio has the potential to capture significant market share in autoimmune indications; Viridian’s product candidates potentially being best-in-class; Viridian’s anticipated pipeline expansion in TED and autoimmune disease; Viridian’s ability to expand to autoimmune disease beyond TED; and Viridian’s expectations regarding its ability to fund its current business through break-even. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to: and uncertainties including but not limited to: that the company has historically incurred losses and may not be able to secure additional capital when needed; that prior to marketing approval of veligrotug, the company had not generated revenue from product sales; that the company may be unable to maintain commercial manufacturing, sales and marketing capabilities or enter into agreements with third parties to commercially manufacture, market and sell veligrotug; market acceptance of veligrotug; potential utility, efficacy, potency, safety, clinical benefits, clinical response, and convenience of veligrotug and Viridian’s product candidates; that results or data from completed or ongoing clinical trials may not be representative of the results of ongoing or future clinical trials; that preliminary data may not be representative offinal data; the timing, progress and plans for our ongoing or future research, preclinical, and clinical development programs; changes to trial protocols for ongoing or new clinical trials; expectations and changes regarding the timing for regulatory filings; regulatory interactions; expectations and changes regarding the timing for enrollment and data; uncertainty and potential delays related to clinical drug development; the duration and impact of regulatory delays in our clinical programs; the timing of and our ability to obtain and maintain regulatory approvals for our therapeutic candidates; manufacturing risks; competition from other therapies or products; estimates of market size and market opportunity; other matters that could affect the sufficiency of existing cash, cash equivalents, and short-term investments to fund operations; our financial position; our future operating results and financial performance; Viridian’s intellectual property position; the timing of preclinical and clinical trial activities and reporting results from same; that our product candidates may not be commercially successful, if approved; and those risks described from time to time under the caption “Risk Factors” in our filings with the Securities and Exchange Commission, including those described in our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as applicable, and supplemented from time to time by our Current Reports on Form 8-K. The forward-looking statements in this presentation represent our views as of the date of this presentation. Neither we, nor our affiliates, advisors, or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this presentation. This presentation also contains estimates and other statistical data made by independent parties and by us relating to marketsize and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Trademarks used herein are the property of their respective owners. 2 Cautionary note regarding forward-looking statements
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3 Viridian aspires to be a foremost autoimmune company… … starting with Leadership 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 3
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Lumvoa Elegrobart TSHR Inhibitor & Pipeline Primed for new entrants and growth • Low penetration with currently approved product • No subcutaneous option available commercially • Recent WW approvals are expanding the global market2 • New-start market dynamic • Limited competitive development landscape with high bar set by IGF-1R inhibitors Current TED Market ~$2B1 Annualized TED market Elegrobart is an investigational product that has not been approved by any regulatory authority; the safety and efficacy have not been established. 1. Annualized TEPEZZA sales based on Amgen Q1 2026 Earnings. 2. Amgen Press Release “AMGEN REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS,” 3. Viridian THRIVE data on file, 4. Viridian THRIVE-2 data on file, 5. Planned product profile with commercial autoinjector format, 6. Viridian REVEAL-1 and REVEAL-2 data on file (studies conducted with vial & syringe). BLA = Biologics License Application, IGF-1R = insulin-like growth factor-1 receptor, IND = Investigational New Drug application, TED = thyroid eye disease, TSHR = thyroid stimulating hormone receptor, WW = worldwide. 4 Viridian is building a portfolio to address TED patient needs with LumvoaTM (veligrotug-vvze), elegrobart, and a targeted pipeline Approved by the FDA under Priority Review Potential to be first subcutaneous autoinjector in TED • Transformative convenience of at-home autoinjector every 4 or 8 weeks5 • Potential to greatly expand TED market, if approved • Met primary endpoint with high statistical significance in REVEAL-1 and REVEAL-2, pivotal phase 3 clinical trials in active and chronic TED6 • Generally well-tolerated6 • BLA submission anticipated in Q1 2027 Innovate for the future of TED • Approved on: June 26, 2026 • Demonstrated strong clinical data with robust improvements in proptosis and diplopia in both active and chronic TED3,4 • Rapid symptom relief in active and chronic TED, with proptosis reduction in as early as 3 weeks3,4 • Short course of treatment with a 12-week regimen • Generally well-tolerated3,4 • TSHR product candidate designed to be best-in-class: half-life extended to support extended dosing intervals in an autoinjector5 • Potential in TED and Graves’ disease • Anticipated IND Q4 2026 • Evaluating novel treatments for the future of TED v
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Viridian has continued to execute over the past year 1 $1.3B BLA submitted during the U.S. government shutdown Secured access to up to ~$1.3B in capital since 2025 1 8 3 Progressed 8 phase 3 TED trials between Lumvoa and elegrobart Advanced 3 early-stage programs (2 FcRn, 1 TSHR) 1 2 Approved U.S. commercial product under priority review 2 Lumvoa regulatory designations: Breakthrough Therapy and Priority Review 5 Source: Viridian press releases and internal data on file.1. Includes Kissei Japan license deal, DRI royalty deal, October 2025 equity financing, May 2026 debt and equity financing. BLA = Biologics License Application, FcRn = neonatal Fc receptor, TSHR = thyroid stimulating hormone receptor, TED = thyroid eye disease.
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DISCOVERY PRECLINICAL PHASE 1 PHASE 2 PHASE 3 Approved Anticipated Milestones Thyroid Eye Disease Portfolio Lumvoa 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 half-life FcRn inhibitor BLA = Biologics License Application, Fc = fragment crystallizable, FcRn = neonatal Fc receptor, HV = healthy volunteer, IGF-1R = insulin-like growth factor-1 receptor, IND = Investigational New Drug application, PDUFA = Prescription Drug User Fee Act, TED = thyroid eye disease, TSHR = thyroid-stimulating hormone receptor. 6 Strong progress across TED and FcRn inhibitor portfolios Communicate dev plan in 2026 HV data 2H 2026 BLA submission Q1 2027 IND Q4 2026Potential in TED and Graves’ disease
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Lumvoa Intravenous Elegrobart Subcutaneous Anti-TSHR Subcutaneous FcRn inhibitor portfolio Subcutaneous Lumvoa approved on June 26 under Priority Review, multiple additional anticipated value-creating pipeline catalysts upcoming 2026 MAA Submission Jan 2026 Approved on June 26, 2026 REVEAL-1 Topline Q1 2026 REVEAL-2 Topline Q2 2026 IND Q4 2026 Strong balance sheet: $982M cash as of June 30, 2026; Existing cash and anticipated future commercial revenues from Lumvoa and elegrobart, if approved, are expected to fund Viridian’s current business plans through profitability VRDN-008 HV Data: 2H 2026 7 BLA = Biologics License Application, FcRn = neonatal Fc receptor, HV = healthy volunteer, IND = Investigational New Drug application, IV = intravenous, MAA = Marketing Authorization Application, PDUFA = Prescription Drug User Fee Act, TED = thyroid eye disease, TSHR = thyroid-stimulating hormone receptor 2027 BLA Submission Q1 2027
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8 Viridian aspires to lead in TED and autoimmune diseases * Planned. ** If approved BLA = Biologics License Application, 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 2026 TSHR, FcRn POCs* New Pipeline INDs and POCs*FcRn Expansion* Ele Launch** Lumvoa Launch TED Autoimmune Thyroid Extend Expand Establish • Lumvoa launch in TED • Ele BLA anticipated Q1 2027 • Commitment to leading TED • Advance TSHR (potential in TED and Graves) • Advance FcRn to POC and pivotal in autoimmune • Leadership beyond TED • Continued pipeline through discovery and development
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9 Thyroid Eye Disease
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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 patient images are from Bahn RS. NEJM. 2010; 362(8): 726–738. Copyright © (2010) Massachusetts Medical Society. Reprinted with permission from Massachusetts Medical Society. IGF-1R = insulin-like growth factor-1 receptor, TED = thyroid eye disease, TSHR = thyroid stimulating hormone receptor. 10 TED is an autoimmune condition characterized by inflammation, growth, and damage to tissues around and behind the eyes Normal Eye Anatomy Bulging Eyes Enlargement of extraocular muscles Optic Nerve Autoantibodies trigger IGF-1R/TSHR pathway1 Heterogeneous autoimmune disease with clinical signs and symptoms that can vary or modulate following onset, in some cases for the rest of a patient’s life2,3 Main signs include proptosis (eye bulging), redness, swelling, diplopia (double vision), and lid retraction2,3 Severe cases can cause sight-threatening optic nerve compression4 An estimated 190K people in the US alone have moderate to severe TED5 People living with TED experience proptosis, redness, swelling, diplopia, and lid retraction Thyroid Eye Disease (TED)
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11 Sources: 1. Annualized teprotumumab sales based on Amgen Q1 2026 earnings. 2. Viridian internal claims analysis on file. 3. TEPEZZA® (teprotumumab-trbw) Patient Website. IGF-1R = insulin-like growth factor-1 receptor, TED = thyroid eye disease. Large and attractive TED market with opportunity for significant growth Large and Established Market with Potential to Grow $2B current TED market with low penetration and significant growth potential1$2B Favorable market dynamics for differentiated new products New Start Market Significant Unmet Needs Focused and Experienced Footprint Favorable Market Dynamics Excitement for New Treatment Options ~2,000 core prescribers experienced with anti-IGF-1R infusions2 enabling rapid uptake potential treatment burden of 8 infusions over ~6 months3
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Comparison based on dosing or proposed dosing regimens only. No head-to-head studies have been conducted. Elegrobart is an investigational product that has not been approved by any regulatory authority; the safety and efficacy have not been established. Source: Teprotumumab U.S. Prescribing Information; Amgen Teprotumumab OBI Topline Data Press Release on April 6, 2026; Jefferies VRDN equity research report on September 25, 2024 1. Planned product profile with commercial autoinjector format. 2. Anticipated administration and dosing per Jefferies 9/25/2024 equity research report and Viridian estimate. IGF-1R = insulin-like growth factor-1 receptor,IV = intravenous, Q4W = every 4 weeks, Q8W = every 8 weeks. 12 Both Lumvoa and elegrobart offer potential for significantly improved anti-IGF-1R dosing profiles Weeks 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 teprotumumab IV 60-90 min infusion Lumvoa IV 30-45 min infusion teprotumumab OBI Up to 30 min on-body infusion Elegrobart Q4W Dosed in seconds Elegrobart Q8W Dosed in seconds Autoinjector Pen1 IV InfusionsWearable Pump2
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13 TED = thyroid eye disease Viridian has the potential to provide multiple differentiated treatment solutions for TED patients in one portfolio 12-Week IV Regimen Well-positioned to be a meaningful treatment option for TED patients Elegrobart Q4W Elegrobart Q8W Self-Administered Autoinjector1 Potential to be the first subcutaneous autoinjector in TED, providing a simple, infrequent, at-home treatment option Elegrobart is an investigational product that has not been approved by any regulatory authority; the safety and efficacy have not been established. 1. Planned product profile. BLA = Biologics License Application, IV = intravenous, Q4W = every 4 weeks, Q8W = every 8 weeks, TED = thyroid eye disease
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14 LumvoaTM (veligrotug-vvze) Intravenous anti–IGF-1R
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FDA = U.S. Food & Drug Administration, TED = thyroid eye disease. LumvoaTM now FDA approved Approved under Priority Review First approved treatment for TED with both active and chronic TED data in label 15
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Source: Viridian THRIVE & THRIVE-2 data on file. BLA = Biologics License Application, FDA = U.S. Food and Drug Administration, PDUFA = Prescription Drug User Fee Act, TED = thyroid eye disease. Lumvoa approved under Priority Review and was granted Breakthrough Therapy Designation by the FDA 16 Lumvoa approved following strong phase 3 pivotal trial data in THRIVE and THRIVE-2 THRIVE met its primary and all secondary endpoints as evaluated at week 15 Demonstrated a rapid onset of treatment effect in as few as 3 weeks Generally well-tolerated, with a low rate of hearing impairment Strong durability of proptosis response: 71% of topline proptosis responders maintained response at week 52 Lumvoa in Chronic TEDLumvoa in Active TED THRIVE-2 met its primary and all secondary endpoints as evaluated at week 15 Demonstrated a rapid onset of treatment effect in as few as 3 weeks Generally well-tolerated, with a low rate of hearing impairment First pivotal phase 3 clinical trial to show statistically significant diplopia response & resolution in chronic TED
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17 IGF-1R = insulin-like growth factor-1 receptor, TED = thyroid eye disease. Lumvoa launch priorities Rapid engagement of core Lumvoa customers: anti- IGF-1R prescribers and infusion centers DRIVE Awareness Simple enrollment, strong clinical profile, and short treatment duration DIFFERENTIATE Lumvoa Broad payer coverage and world-class patient services DELIVER Access DEMONSTRATE Viridian to be a trusted, long-term partner in TED
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IGF-1R = insulin-like growth factor-1 receptor, KOL = key opinion leader, 18 DRIVE AWARENESS: Experienced and geographically-aligned field team targeting key U.S. stakeholders KOLs and physicians ~2000 core anti-IGF-1R prescribers Avg experience: 20+ years President’s Club Awards: 350+ Payers and infusion centers Physician staff and patients Medical Affairs Patient Services Field Sales (<100) Market Access Field teams in place since April Geographically aligned Designed to maximize speed and simplicity of launch operations
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19 1. Primary endpoint analyzed proptosis reduction at 15 weeks. Results at 3 weeks is a post-hoc analysis. TED = thyroid eye disease. DIFFERENTIATE LUMVOA: Lumvoa has the potential to redefine the treatment paradigm for TED patients Strong label allows us to focus on key points of differentiation Demonstrated strong clinical data with robust improvements in proptosis and diplopia in both active and chronic TED Short course of treatment with a 12-week regimen Rapid symptom relief in active and chronic TED, with proptosis reduction in as early as 3 weeks1 Lumvoa approved under Priority Review from FDA; received Breakthrough Therapy Designation in 2025
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IGF-1R = insulin-like growth factor-1 receptor. 20 DELIVER ACCESS: Market access readiness enables physicians to prescribe Lumvoa immediately Pre-Launch Payer Engagements Facilitate Rapid Coverage and Access Anticipate Rapid Access at Launch • Pre-approval Information Exchange (PIE) meetings with payers since January • Meeting counterparties represent 80% of covered lives 80% • 85% coverage for existing anti- IGF-1R today • Payers recognize strong Lumvoa value proposition • Expect to cover Lumvoa consistently with existing anti- IGF-1R Majority of anti-IGF-1R patients are commercially covered Anticipating most payer coverage decisions within 6-9 months post-launch ViridianCares TM launched to enable seamless patient access, affordability, and support 85%
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* Patients must be enrolled in ViridianCares and meet all eligibility requirements. Terms and conditions will apply. See terms and conditions. DELIVER ACCESS: ViridianCares designed to support patients and physician offices throughout their journey • Personalized, one-on-one support to help your patients throughout their treatment journey • Assistance with benefits verification, prior authorization requirements, reimbursement, and required documentation • The ViridianCares Co-pay Program offers co-pay assistance for eligible patients. Commercially insured patients may pay as little as $0* for both medication and infusion-related expenses • If patients experience a change in coverage or have affordability concerns, ViridianCares will work closely with them to explore available financial assistance options 21
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22 Elegrobart (VRDN-003) Subcutaneous half-life extended anti–IGF-1R
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Elegrobart is an investigational product that has not been approved by any regulatory authority; the safety and efficacy have not been established. Source: Viridian REVEAL-1 & REVEAL-2 data on file. BLA = Biologics License Application, IV = intravenous, Q4W = every 4 weeks, Q8W = every 8 weeks, TED = thyroid eye disease. Anticipated BLA submission in Q1 2027 for both Q4W and Q8W dosing regimens Achieved primary endpoint with high statistical significance Clinically meaningful outcomes on multiple secondary endpoints, across both Q4W and Q8W treatment arms Rapid onset of treatment effect Generally well-tolerated with low rates of hearing impairment 23 Positive topline results from REVEAL-1 & REVEAL-2 pivotal trials in active and chronic TED for elegrobart Achieved primary endpoint with high statistical significance Statistically significant and IV-like proptosis benefit achieved in both Q4W and Q8W treatment arms Meaningful benefit on diplopia in Q4W treatment arm First and only subcutaneous treatment with positive data in a pivotal chronic TED clinical trial Generally well-tolerated with low rates of hearing impairment
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Elegrobart is an investigational product that has not been approved by any regulatory authority; the safety and efficacy have not been established. Source: Viridian REVEAL-1 & REVEAL-2 week 24 topline data on file (interim topline database lock). BLA = Biologics License Application, IGF-1R = insulin-like growth factor-1 receptor, SC = subcutaneous, TED = thyroid eye disease. 24 Elegrobart topline data & profile support its potential to transform TED treatment with BLA submission anticipated in Q1 2027 Uniquely positioned to expand the TED market Anticipated to attract new patients, underserved by today’s therapies, with a simple, convenient anti- IGF-1R, planned for at-home self-administration Only SC program with positive data in both active and chronic TED pivotal clinical trials Elegrobart’s two pivotal trials met their primary and multiple secondary endpoints, and elegrobart was generally well-tolerated Potential to be the first subcutaneous autoinjector in TED Planned simple, one-step autoinjector with each dose delivered in just seconds Full treatment course as few as 3 doses Potential to be treatment-of-choice for TED patients Compelling proptosis & diplopia benefit with the potential to be the most convenient treatment in TED
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25 REVEAL-1 Topline Data in Active TED Potential first subcutaneous autoinjector for TED
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Elegrobart is an investigational product that has not been approved by any regulatory authority; the safety and efficacy have not been established. 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. 26 REVEAL-1 in active TED patients met primary endpoint and elegrobart was generally well tolerated Achieved the primary endpoint with high statistical significance (p < 0.0001) – 54% of Q4W patients achieved a proptosis response versus 18% placebo at week 24 Achieved clinically meaningful outcomes on multiple secondary endpoints – 63% PRR in the Q8W arm versus 18% placebo at week 24 – 51% diplopia complete resolution in the Q4W arm versus 16% placebo, all at week 24 Generally well tolerated in both dose groups, with low rate of hearing impairment AEs through week 24 Rapid onset of treatment effect in as few as 4 weeks
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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. 27 REVEAL-1 is a phase 3 randomized, controlled, double-masked trial of elegrobart in active TED Follow-up through W52 Additional efficacy & safety follow-up at: • Week 36 • Week 52 Key Inclusion Criteria • CAS ≥3 • Onset of TED symptoms within 15 months • Proptosis of ≥3 mm Treatment Phase (20 weeks treatment with primary endpoint at 24 weeks) Elegrobart Q4W1 D11 W4 W8 W12 W16 W20 Elegrobart Q8W1, 2 Placebo W24Treatment Arms (1:1:1) Primary efficacy endpoint: Proptosis responder rate (PRR) in Q4W arm Key secondary endpoints: • Proptosis mean change from baseline • Clinical Activity Score (CAS) reduction to 0 or 1 • Diplopia responder rate • Diplopia complete resolution • Q8W endpoints Primary Endpoint Analysis Key: Elegrobart 300 mg Placebo
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28 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) Discontinued • 1 TEAE (Gr1 amylase / lipase elevation) • 2 withdrawal of consent • 2 lost to follow-up • 2 failure to follow protocol • 2 participant decision Discontinued • 2 withdrawal of consent • 1 lost to follow-up Discontinued • 1 TEAE (Gr3 swollen tongue, Gr2 chest pain & Gr2 IRR) Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). Q4W = every 4 weeks, Q8W = every 8 weeks. Gr = grade, TEAE = treatment-emergent adverse event, IRR = infusion related reaction.
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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) 6.6 (4.4) 7.7 (4.3) 8.3 (5.2) Baseline proptosis by exophthalmometry (mm), mean (SD) 22.3 (2.6) 22.7 (3.3) 21.8 (2.5) Baseline CAS, mean (SD) 4.3 (1.0) 4.2 (1.0) 4.0 (0.9) Participants with diplopia, n (%) 28 (64%) 27 (61%) 31 (70%) Diplopia (Gorman Score), mean (SD) 1 1.8 (0.8) 1.8 (0.8) 1.8 (0.7) Source: Viridian REVEAL-1 week 24 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 patients with diplopia at baseline. CAS = clinical activity score, mm = millimeter, SD = standard deviation, TED = thyroid eye disease. 29 REVEAL-1 baseline characteristics were well-balanced between arms
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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 p < 0.0001* Clinical activity score (CAS) reduction to 0 or 1 57% 50% p = 0.24 Diplopia responder rate3 71% 32% p = 0.0009 Diplopia complete resolution4 51% 16% p = 0.0013 Q8W Proptosis responder rate (exophthalmometry)1 63% 18% p < 0.0001 EMA: Overall responder rate (ORR)2 58% 16% p < 0.0001 Proptosis mean change from baseline (exophthalmometry) -2.50 mm -0.81 mm p < 0.0001 Clinical activity score (CAS) reduction to 0 or 1 69% 50% p = 0.03 Diplopia responder rate3 54% 32% p = 0.05 Diplopia complete resolution4 28% 16% p = 0.14 Other Secondary Endpoints Q4W Proptosis responder rate1 (MRI) 50% 2% p < 0.0001 Proptosis mean change from baseline (MRI) -2.04 mm -0.22 mm p < 0.0001 Q8W Proptosis responder rate1 (MRI) 36% 2% p < 0.0001 Proptosis mean change from baseline (MRI) -1.99 mm -0.22 mm p < 0.0001 Source: Viridian REVEAL-1 week 24 topline data on file (interim topline database lock). * Statistically significant. Key secondary endpoints below Q4W “CAS Reduction to 0 or 1” in the prespecified testing hierarchy and other secondary endpoints are nominally significant if below the statistically significant threshold of 0.025. 1 Participants with ≥2 mm reduction in proptosis from baseline in study eye, without deterioration in fellow eye (≥2 mm increase), 2 Participants with both proptosis and CAS response; CAS response defined as ≥2- point reduction in CAS from baseline in study eye, without deterioration in fellow eye (≥2-point increase), 3 Participants with reduction of ≥1 on Gorman Score at week 24, among patients with diplopia at baseline, 4 Participants with baseline diplopia (Gorman Score >0) and a score of 0 at week 24. CAS = clinical activity score, mm = millimeter, MRI = magnetic resonance imaging, Q4W = every 4 weeks, Q8W = every 8 weeks. 30 REVEAL-1 achieved high statistical significance on primary endpoint at 24 weeks
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31 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 nominally significant (p < 0.025). PRR = proptosis responder rate, Q4W = every 4 weeks, Q8W = every 8 weeks. Rapid onset of treatment effect: proptosis response in patients receiving elegrobart was observed as early as week 4, after just one dose Significant proptosis responder rate as early as 4 weeks after just one dose and across all time points in both arms Primary endpoint: p < 0.0001 Proptosis Responder Rate – Q4W Proptosis Responder Rate – Q8W 0 20 40 60 80 100 0 20 40 60 80 100 Analysis Visits Proptosis Responder Rate (%) Baseline 8% 30% Week 4 10% 37% Week 8 14% 45% Week 12 10% 43% Week 16 21% 54% Week 24 Placebo Elegrobart Q4W Week 20 62% 18% Analysis Visits Proptosis Responder Rate (%) 10% 43% 10% 63% 63% Placebo Elegrobart Q8W 18% Baseline Week 4 Week 8 Week 12 Week 16 Week 24Week 20 61%57% 31% 8% 14% 21%
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32 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 endpoints. Results at all time points and across both treatment arms prior to week 24 were nominally significant (p < 0.025). mm = millimeter, Q4W = every 4 weeks, Q8W = every 8 weeks. Significant proptosis mean change from baseline at all time points across both treatment arms, including at week 4 Key secondary endpoint: p < 0.0001 Mean Change from Baseline – Q4W Mean Change from Baseline – Q8W Analysis Visits Proptosis Mean Reduction (mm) Placebo Elegrobart Q4W -0.21 -0.30 -0.52 -0.49 -0.81 -0.81 -1.07 -1.37 -1.65 -1.76 -2.30 -2.33 -3 -2 -1 0 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24 Analysis Visits Proptosis Mean Reduction (mm) Placebo Elegrobart Q8W -0.21 -0.30 -0.52 -0.49 -0.81 -0.81 -1.16 -1.66 -2.10 -2.24 -2.41 -2.50 -3 -2 -1 0 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24
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5% 2% 43% 50% 41% 36% 0 10 20 30 40 50 60 70 80 90 100 Baseline Week 12 Week 24 33 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 < 0.025). MRI assessment was only conducted at baseline, week 12, and week 24. mm = millimeter, Q4W = every 4 weeks, Q8W = every 8 weeks. Proptosis Responder Rate (MRI) Proptosis Mean Change from Baseline (MRI) Proptosis endpoints as measured by MRI were consistent with exophthalmometer, and significant at all time points Proptosis Mean Reduction (mm) Proptosis Responder Rate (%) Analysis Visits Placebo Elegrobart Q4W Analysis Visits Elegrobart Q8W Placebo Elegrobart Q4W Elegrobart Q8W -0.13 -0.22 -1.87 -2.04 -1.69 -1.99 -3 -2 -1 0 Baseline Week 12 Week 24
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34 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 resolution for patients receiving elegrobart Q4W improved throughout treatment period Diplopia Responder Rate – Q4W Diplopia Complete Resolution – Q4W Analysis Visits Placebo Elegrobart Q4W 13% 26% 35% 29% 29% 32% 43% 50% 58% 50% 74% 71% 0 20 40 60 80 100 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24 Analysis Visits Placebo Elegrobart Q4W 6% 13% 19% 19% 16% 16% 27% 33% 33% 32% 54% 51% 0 20 40 60 80 100 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24 Diplopia Responder Rate (%) Diplopia Resolution Rate (%) Note: diplopia time course data not shown for Q8W treatment arm given week 24 endpoints did not meet nominal significance threshold
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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); 3 Related TEAE discontinuation in placebo arm was due to Gr3 swollen tongue, Gr2 chest pain, & Gr2 IRR; 4 Unrelated TEAE discontinuation in Q4W arm was due to Gr1 amylase increase & Gr1 lipase increase. AE = adverse event, MedDRA= medical dictionary for regulatory activities, SAE = serious adverse event, TEAE = treatment-emergent adverse event, Gr = grade, IRR = infusion related reaction. 35 Elegrobart Q4W N=44 n (%) Elegrobart Q8W N=44 n (%) Placebo N=44 n (%) Participants with any treatment-emergent adverse event (TEAE) 40 (91%) 31 (70%) 24 (55%) Participants with any serious AE (SAE) 2 (5%)1 2 (5%)2 0 Participants with any treatment-related TEAE 32 (73%) 22 (50%) 12 (27%) Participants with any treatment-related SAE 1 (2%)1 0 0 • Vast majority of TEAEs in both treatment arms were mild • Only 2 treatment discontinuations due to TEAEs ‒ 1 in placebo arm (related TEAE)3 ‒ 1 in elegrobart Q4W arm (unrelated TEAE)4 Elegrobart was generally well tolerated through week 24
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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 in the treatment arms were tinnitus with no reductions in hearing. There was one hypoacusis event in placebo arm; 4 Reported as percentage of menstruating women. AE = adverse event, MedDRA = medical dictionary for regulatory activities. 36 AEs occurring at ≥10% frequency in any arm Elegrobart Q4W N=44 n (%) Elegrobart Q8W N=44 n (%) Placebo N=44 n (%) Muscle spasms 18 (41%) 16 (36%) 3 (7%) Injection site reactions (ISR)1,2 15 (34%) 9 (21%) 7 (16%) Headache 7 (16%) 3 (7%) 3 (7%) Ear discomfort 7 (16%) 3 (7%) 1 (2%) Alopecia 7 (16%) 3 (7%) 1 (2%) Diarrhea 6 (14%) 4 (9%) 2 (5%) Hearing impairment1,3 6 (14%) 2 (5%) 1 (2%) Hyperglycemia1 5 (11%) 5 (11%) 1 (2%) Injection related reactions (IRR)1 5 (11%) 2 (5%) 2 (5%) Menstrual disorders1,4 5 / 17 (29%) 6 / 23 (26%) 1 / 20 (5%) AE categories for elegrobart in REVEAL-1 were consistent with those generally expected from the anti-IGF-1R class
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37 REVEAL-2 Topline Data in Chronic TED Potential first subcutaneous autoinjector for TED
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Elegrobart is an investigational product that has not been approved by any regulatory authority; the safety and efficacy have not been established. Source: Viridian REVEAL-2 week 24 topline data on file (interim topline database lock). P-values below 0.025 are statistically significant. 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. 38 REVEAL-2 in chronic TED patients met primary and multiple secondary endpoints and elegrobart was generally well tolerated Achieved the primary endpoint with high statistical significance (p < 0.0001), with IV-like proptosis response – 50% of Q4W and 54% of Q8W achieved a proptosis response vs 15% placebo at week 24 (p < 0.0001 for both arms) Meaningful benefit on diplopia – 61% of Q4W elegrobart achieved diplopia response vs 38% placebo at week 24 (p = 0.0118) – 44% of Q4W elegrobart achieved diplopia complete resolution vs 25% placebo at week 24 (p = 0.0295) Generally well tolerated in both dose groups, with low rates of hearing impairment through week 24 Elegrobart is the first & only subcutaneous program with positive data in a pivotal chronic TED trial
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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. 39 REVEAL-2 is a phase 3 randomized, controlled, double-masked trial of elegrobart in chronic TED Follow-up through W52 Additional efficacy & safety follow-up at: • Week 36 • Week 52 Key Inclusion Criteria • Any CAS (0–7) • Onset of TED symptoms >15 months • Proptosis of ≥3 mm Treatment Phase (20 weeks treatment with primary endpoint at 24 weeks) Elegrobart Q4W1 D11 W4 W8 W12 W16 W20 Elegrobart Q8W1, 2 Placebo W24Treatment Arms (1:1:1) Primary efficacy endpoint: Proptosis responder rate in Q4W arm Key secondary endpoints: • Proptosis responder rate in Q8W arm • Proptosis mean change from baseline • Diplopia responder rate • Diplopia complete resolution rate Primary Endpoint Analysis Key: Elegrobart 300 mg Placebo
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40 REVEAL-2 is the largest pivotal clinical trial conducted in chronic TED to date Randomized Patients (n = 204) Elegrobart Q4W (n = 70) Placebo (n = 66) Elegrobart Q8W (n = 68) Completed Randomized Treatment (n = 63) Completed Randomized Treatment (n = 62) Completed Randomized Treatment (n = 62) Discontinued • 3 withdrawal of consent • 2 TEAEs • 1 failure to follow protocol • 1 lost to follow-up Discontinued • 1 withdrawal of consent • 2 TEAEs • 2 failure to follow protocol • 1 lost to follow-up Discontinued • 2 withdrawal of consent • 1 TEAE • 1 failure to follow protocol Source: Viridian REVEAL-2 week 24 topline data on file (interim topline database lock). Q4W = every 4 weeks, Q8W = every 8 weeks. Gr = grade, TEAE = treatment-emergent adverse event, IRR = infusion related reaction.
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7.8 Elegrobart Q4W (n = 70) Elegrobart Q8W (n = 68) Placebo (n = 66) Participant Demographics Age in years, mean (SD) 50.1 (11.3) 52.0 (11.2) 53.3 (11.2) Female sex, n (%) 60 (86%) 57 (84%) 53 (80%) White race, n (%) 54 (77%) 52 (76%) 51 (77%) Disease Characteristics Months since TED onset, mean (SD) 78.9 (73.4) 75.0 (72.1) 95.8 (108.6) Baseline proptosis (mm), mean (SD) 1 22.7 (2.9) 22.6 (2.9) 22.7 (2.7) Baseline CAS, mean (SD) 2.7 (1.7) 3.0 (1.6) 2.8 (1.7) Baseline CAS ≤1, n (%) 17 (24.3) 15 (22.1) 16 (24.2) Baseline CAS ≥3, n (%) 38 (54.3) 43 (63.2) 34 (51.5) Participants with diplopia, n (%) 47 (67%) 54 (79%) 47 (71%) Diplopia (Gorman Score), mean (SD)2 1.8 (0.7) 1.9 (0.7) 1.8 (0.7) Source: Viridian REVEAL-2 week 24 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 Measured by exophthalmometry, 2 Of patients with diplopia at baseline. CAS = clinical activity score, mm = millimeter, SD = standard deviation, TED = thyroid eye disease. 41 REVEAL-2 baseline characteristics were well-balanced between arms
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Elegrobart Q4W (n = 70) Elegrobart Q8W (n = 68) Placebo (n = 66) Proptosis Proptosis responder rate (PRR)1,2 50% (p < 0.0001) 54% (p < 0.0001) 15% Overall responder rate (ORR)3 47% (p < 0.0001) 54% (p < 0.0001) 15% Proptosis mean change from baseline1 -1.88 mm (p < 0.0001) -2.08 mm (p < 0.0001) -0.52 mm Diplopia Diplopia responder rate4 61% (p = 0.0118) 55% (p = 0.0419) 38% Diplopia complete resolution5 44% (p = 0.0295) 36% (p = 0.1304) 25% Source: Viridian REVEAL-2 week 24 topline data on file (interim topline database lock). P-values below 0.025 are statistically significant. 1 Measured by exophthalmometry, 2 Participants with ≥2 mm reduction in proptosis from baseline in study eye, without deterioration in fellow eye (≥2 mm increase), 3 Participants with both proptosis and CAS response; CAS response defined as no worsening in CAS from baseline in study eye, without deterioration in fellow eye (≥2-point increase), 4 Participants with reduction of ≥1 on Gorman Score at week 24, among patients with diplopia at baseline (Gorman Score >0),5 Participants with diplopia at baseline and a score of 0 at week 24. CAS = clinical activity score, mm = millimeter, Q4W = every 4 weeks, Q8W = every 8 weeks. 42 REVEAL-2 achieved high statistical significance on primary endpoint and multiple secondary endpoints at 24 weeks FDA Primary Endpoint EMA Primary Endpoint
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Source: Viridian REVEAL-2 week 24 topline data on file (interim topline database lock). PRR at time points prior to week 24 were prespecified exploratory endpoints. P-values below 0.025 at week 24 are statistically significant. Q4W = every 4 weeks, Q8W = every 8 weeks. 43 Significant proptosis responder rate at all time points after week 4 in both treatment arms Primary endpoint: p < 0.0001 Proptosis Responder Rate – Q4W Proptosis Responder Rate – Q8W 0 20 40 60 80 100 0 20 40 60 80 100 Analysis Visits Proptosis Responder Rate (%) Baseline 5% 6% Week 4 9% 22% Week 8 11% 34% Week 12 19% 42% Week 16 18% 50% Week 24 Placebo Elegrobart Q4W Week 20 41% 15% Analysis Visits Proptosis Responder Rate (%) 30% 38% 54% Placebo Elegrobart Q8W Baseline Week 4 Week 8 Week 12 Week 16 Week 24Week 20 44% 36% 16% 6% 9% 11% 19% 18% 15% Key secondary endpoint: p < 0.0001
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Key secondary endpoint: p < 0.0001 44 Source: Viridian REVEAL-2 week 24 topline data on file (interim topline database lock). Proptosis mean change from baseline at time points prior to week 24 were prespecified exploratory endpoints. P-values below 0.025 at week 24 are statistically significant. mm = millimeter, Q4W = every 4 weeks, Q8W = every 8 weeks. Significant proptosis mean change from baseline at all time points across both treatment arms, including at week 4 Key secondary endpoint: p < 0.0001 Mean Change from Baseline – Q4W Mean Change from Baseline – Q8W Proptosis Mean Reduction (mm) -0.27 -0.56 -0.61 -0.68 -0.65 -0.52 -0.63 -1.10 -1.44 -1.66 -1.79 -1.88 -3 -2 -1 0 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24 Proptosis Mean Reduction (mm) -0.27 -0.56 -0.61 -0.68 -0.65 -0.52 -0.82 -1.26 -1.45 -1.77 -1.84 -2.08 -3 -2 -1 0 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24 Analysis Visits Placebo Elegrobart Q4W Analysis Visits Placebo Elegrobart Q8W
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Diplopia Responder Rate – Q4W Diplopia Complete Resolution – Q4W 45 Source: Viridian REVEAL-2 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. P-values below 0.025 at week 24 are statistically significant. Q4W = every 4 weeks, Q8W = every 8 weeks. First demonstration of statistically significant diplopia response for a subcutaneous treatment in chronic TED 16% 23% 32% 31% 36% 38% 21% 32% 42% 49% 58% 61% 0 20 40 60 80 100 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24 Diplopia Responder Rate (%) Key secondary endpoint: p = 0.0118 13% 17% 20% 23% 26% 25% 13% 21% 25% 27% 38% 44% 0 20 40 60 80 100 Baseline Week 4 Week 8 Week 12 Week 16 Week 20 Week 24 Key secondary endpoint: p = 0.0295 Analysis Visits Placebo Elegrobart Q4W Analysis Visits Placebo Elegrobart Q4W Diplopia Resolution Rate (%)
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46 Source: Viridian REVEAL-2 week 24 topline data on file (interim topline database lock). CAS subgroup analyses were prespecified exploratory endpoints. P-values below 0.025 are nominally significant. 1 Douglas RS et al., J Clin Endocrinol Metab. 2023; 109(1):25–35, 2 Measured by exophthalmometry. CAS = clinical activity score, mm = millimeter, ORR = overall responder rate, Q4W = every 4 weeks, Q8W = every 8 weeks, TED = thyroid eye disease. Proptosis & diplopia benefit demonstrated in low-CAS subgroup Elegrobart demonstrated consistent, IV-like clinical activity in chronic TED patients regardless of baseline disease activity, in the largest and broadest TED phase 3 study completed to date Key efficacy endpoints in subgroup of patients with low CAS (CAS ≤ 1) at baseline Same CAS inclusion criteria as teprotumumab chronic TED phase 4 study1 Elegrobart Q4W (n = 17) Elegrobart Q8W (n = 15) Placebo (n = 16) Proptosis Proptosis responder rate (PRR)2 54% (p = 0.0002) 55% (p = 0.0004) 6% Proptosis mean change from baseline2 -2.07 mm (p = 0.0002) -2.31 mm (p < 0.0001) -0.05 mm Diplopia (Q4W: n=10; Q8W: n=11; placebo: n=10) Diplopia responder rate 57% (p = 0.1057) 73% (p = 0.0153) 30% Diplopia complete resolution 33% (p = 0.0497) 46% (p = 0.0067) 10% Overall Response Overall responder rate (ORR) 42% (p = 0.0063) 54% (p = 0.0001) 6%
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Source: Viridian REVEAL-2 week 24 topline data on file (interim topline database lock). 1 1 treatment-related TEAE discontinuation in Q4W arm: Gr2 hyperglycemia & Gr2 muscle spasms; 2 2 treatment-related TEAE discontinuations in Q8W arm: Gr1 tinnitus (related; resolving) and Gr3 muscle spasms (foot cramps). AE = adverse event, MedDRA= medical dictionary for regulatory activities, SAE = serious adverse event, TEAE = treatment-emergent adverse event, Gr = grade. 47 Elegrobart was generally well tolerated through week 24 Elegrobart Q4W N=70 n (%) Elegrobart Q8W N=68 n (%) Placebo N=66 n (%) Participants with any treatment-emergent adverse event (TEAE) 55 (79%) 56 (82%) 44 (67%) Participants with any serious AE (SAE) 3 (4%) 1 (1%) 0 Participants with any treatment-related TEAE 39 (56%) 39 (57%) 22 (33%) Participants with any treatment-related SAE 0 0 0 • Vast majority of TEAEs in both treatment arms were mild • No treatment-related SAEs • 91% of elegrobart-treated patients completed full course of treatment • 3 treatment-related TEAE discontinuations ‒ 1 in elegrobart Q4W arm1 & 2 in elegrobart Q8W arm2
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Source: Viridian REVEAL-2 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 mild (Grade 1) except for 3 moderate (Grade 2) (2 in Q8W arm & 1 in placebo arm); most common ISR was erythema; 3 Among participants that experienced hearing impairment AEs, the majority reported tinnitus; 4 Reported as percentage of menstruating women. AE = adverse event, MedDRA = medical dictionary for regulatory activities, Q4W = every 4 weeks, Q8W = every 8 weeks. 48 AEs occurring at ≥10% frequency in any arm Elegrobart Q4W N=70 n (%) Elegrobart Q8W N=68 n (%) Placebo N=66 n (%) Muscle spasms 15 (21%) 25 (37%) 7 (11%) Injection site reactions (ISR)1,2 16 (23%) 16 (24%) 18 (27%) Hyperglycemia1 12 (17%) 8 (12%) 1 (2%) Headache 7 (10%) 9 (13%) 3 (5%) Hearing impairment1,3 5 (7%) 8 (12%) 2 (3%) Diarrhea 3 (4%) 9 (13%) 1 (2%) Nasopharyngitis 3 (4%) 7 (10%) 4 (6%) Alopecia 2 (3%) 7 (10%) 5 (8%) Menstrual disorders1,4 11 / 30 (37%) 7 / 27 (26%) 2 / 24 (8%) AE categories for elegrobart in REVEAL-2 were consistent with those generally expected from the anti-IGF-1R class
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49 FcRn Inhibitor Portfolio
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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 demonstrated efficacy and safety in patients with gMG, CIDP, and ITP2 Source: 1 Pyzik M et al.Nat Rev Immunol. 2023;23:415–432, 2 Vyvgart Prescribing Information. CIDP = chronic inflammatory demyelinating polyneuropathy, FcRn = neonatal Fc receptor, gMG = generalized myasthenia gravis, IgG = immunoglobulin G, ITP = primary immune thrombocytopenia. 50 Pathogenic autoantibodies drive disease pathophysiology in a number of autoimmune diseases FcRn-Mediated Recycling of IgGs, Including Pathogenic Autoantibodies1 1 2 3 4 IgGs, including pathogenic autoantibodies, enter the cell1 IgGs and pathogenic autoantibodies bind to FcRns2 Unbound antibodies are degraded by the lysosome3 FcRn-bound IgGs, including pathogenic autoantibodies, are recycled4 IgG Degraded antibody FcRn Endosome Lysosome
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Source: 1 Pyzik M et al.Nat Rev Immunol. 2023;23:415–432. Fc = fragment crystallizable, FcRn = neonatal Fc receptor, IgG = immunoglobulin G. 51 Viridian’s portfolio of FcRn inhibitors aims to reduce circulating levels of pathogenic autoantibodies by blocking FcRn Fc fragment that blocks IgG from binding to FcRn Binds to albumin and FcRn for a more sustained reduction of pathogenic autoantibodies Fc fragment Fc fragment FcRn inhibitor and IgGs, including pathogenic autoantibodies, enter the cell1 FcRn inhibitor blocks IgGs from binding to FcRn2 Unbound IgGs, including pathogenic autoantibodies, are degraded by the lysosome, reducing serum levels3 The bound FcRn inhibitor and IgG are recycled and released4 1 2 3 4 VRDN-006 VRDN-008 Albumin binding domain Inhibition of FcRn Reduces IgGs, Including Pathogenic Autoantibodies1 FcRn Inhibitor IgG Degraded antibody FcRn Endosome Lysosome
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Projected WW MG and CIDP FcRn Market1 Source: 12024 and 2025 revenues calculated from argenx (Vyvgart + Vyvgart Hytrulo), Zai Labs (Vyvgart), and UCB (Rystiggo) annual reported earnings; 2030 estimates based on Evaluate Pharma data for Vyvgart, Vyvgart Hytrulo, Rystiggo, Imaavy, batoclimab, and IMVT-1402, accessed February 2026. CIDP = chronic inflammatory demyelinating polyneuropathy, FcRn = neonatal Fc receptor, MG = myasthenia gravis, WW = worldwide. 52 FcRn inhibitors are a large market opportunity; market size of MG and CIDP alone are projected to be over $11B by 2030 ...with Potential in Additional Autoimmune Indications Sjogren’s Syndrome Lupus Nephritis Myositis Graves’ Disease 2024 2025 2030 $11.1B $2.5B $4.6B
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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. 53 Viridian’s FcRn portfolio has the potential to capture significant market share in autoimmune indications VRDN-006 VRDN-008 v v IgG Suppression • IgG reduction data consistent with the FcRn inhibitor class • Deeper and more sustained reduction of IgG vs. efgartigimod in NHPs Dosing • Targeting patient self-administration in a convenient subcutaneous injection • Targeting a less frequent, self-administered, subcutaneous injection Safety • Spared albumin and LDL in healthy volunteers, generally well-tolerated • Expect to maintain the Fc fragment safety profile Half-life Extended Bispecific FcRn InhibitorHighly Selective Fc Fragment and FcRn Inhibitor
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54 FcRn Non-Human Primate Data
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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 = wild type neonatal fragment. 55 VRDN-006 in vitro, multi-dose NHP PK and IgG reduction data compared to efgartigimod pH-Dependent Binding Internal Target Occupancy 0.01 0.1 1 10 100 1000 10000 0 1×106 2×106 3×106 Concentration (nM) Mean Flourescence Intensity Efgartigimod WT Fc Control VRDN-006 0.0001 0.001 0.01 0.1 1 10 100 1000 0 1×105 2×105 3×105 4×105 Concentration (nM) Mean Flourescence Intensity WT Fc Control Efgartigimod VRDN-006 pH 7.4 pH 6 Multi-Dose NHP Pharmacokinetics 0 5 10 15 20 25 1 10 100 1000 Time (Days) Serum Concentration [μg/mL] VRDN-006 (20 mg/kg, IV) Efgartigimod (20 mg/kg, IV) Dose 0 5 10 15 20 25 0 50 100 150 Time (Days) IgG Response (%) Efgartigimod (20 mg/kg, IV) VRDN-006 (20 mg/kg, IV) Vehicle Dose v Multi-Dose NHP Pharmacodynamics
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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 = low-density lipoprotein, NHP = non-human primate. 56 VRDN-006 spares albumin and LDL in multi-dose NHP study 0 5 10 15 20 25 0 50 100 150 200 Time (Days) CFB Concentrations (%)Vehicle Efgartigimod (20 mg/kg, IV) VRDN-006 (20 mg/kg, IV) Dose 0 5 10 15 20 25 0 50 100 150 Time (Days) CFB Concentrations (%) Vehicle Efgartigimod (20 mg/kg, IV) VRDN-006 (20 mg/kg, IV) Dose v
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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 benchmark), or buffer vehicle - all via IV bolus. Source: Viridian data on file. BLQ = below limit of quantification, IgG = Immunoglobulin G, IV = intravenous, NHP = non-human primate. 57 A single dose of VRDN-008 demonstrated a longer half-life, deeper and more sustained reduction of IgG vs. efgartigimod 0 7 14 21 28 35 42 0.01 1 100 10000 Time (Days) Concentration (μg/ml) VRDN-008 (60 mg/kg, IV) Efgartigimod (48.5 mg/kg, IV) 0 7 14 21 28 35 42 0 25 50 75 100 125 150 Time (Days) IgG Concentration Mean % Change from Baseline VRDN-008 (60 mg/kg, IV) Efgartigimod (48.5 mg/kg, IV) Vehicle Efgartigimod levels were BLQ at Days 35 and 42
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VRDN-008 Spares Albumin VRDN-008 Spares LDL 0 7 14 21 28 35 42 50 75 100 125 Time (Days) Albumin Concentration Mean % Change from Baseline VRDN-008 (60 mg/kg, IV) Efgartigimod (48.5 mg/kg, IV) Vehicle 0 7 14 21 28 35 42 50 100 150 Time (Days) LDL Concentration Mean % Change from Baseline VRDN-008 (60 mg/kg, IV) Efgartigimod (48.5 mg/kg, IV) Vehicle 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 = non-human primates. 58 A single dose of VRDN-008 spares albumin and LDL in NHPs v