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Viridian Therapeutics' Lumvoa Could Start Generating More Meaningful Revenue in 2027, RBC Says

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Viridian Therapeutics' (VRDN) Lumvoa therapy for thyroid eye disease, or TED, could start generating more meaningful revenue in 2027 and then reach peak levels in 2028, RBC Capital Markets said in a Monday note.

RBC estimates revenue from Lumvoa in 2026 is expected to be minimal at about $10 million, with a more conservative payer ramp, and then increase to $243 million in 2027, according to the note. Patient conversion into revenue in 2027 will be spurred by payer dynamics, J-codes, and prior authorization periods, the brokerage added.

Viridian management expects a permanent J-code for the therapy in Q1 2027 and estimates coverage to reach critical mass in six to nine months, RBC said.

The brokerage also noted that Viridian priced Lumvoa at par with rival therapy Tepezza, and that the two treatments could lead the TED market as a duopoly in the coming years.

RBC Capital Markets raised its price target on Viridian Therapeutics to $35 from $34, with an outperform rating.

Price: $18.78, Change: $-0.01, Percent Change: -0.05%

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