Viridian stock falls more than 15% after drug study update

Shares of Viridian Therapeutics Inc.
VRDN,
+5.06%
fell in the extended session Monday after the biotech drug maker said it was making changes to its study design for a chronic thyroid eye disease therapy. Viridian shares fell more than 17% after hours, following a 5.1% rise to close the regular session at $24.52. The company said it will only follow a five-dose treatment of its drug candidate VRDN-001 compared with a placebo, dropping the study of an eight-dose treatment, following discussions with the Food and Drug Administration. The company said it plans to begin the late-stage study in the third quarter of 2023, with topline results coming out in the middle of 2024.