Viridian Therapeutics reported positive top-line results from its Phase 3 Reveal-2 study of elegrobart in chronic thyroid eye disease, driving a sharp stock move and setting up a planned BLA filing in the first quarter of 2027. The trial met both primary endpoints tied to responder rates for proptosis and overall response. Elegrobart (VRDN-003) is a half-life-extended monoclonal antibody targeting the insulin-like growth factor-1 receptor, delivered subcutaneously via an at-home autoinjector. If approved, it would challenge Amgen’s Tepezza, while also joining Viridian’s own veligrotug program under FDA review. The Reveal-2 readout matters for the next competitive phase in TED, where convenience and dosing flexibility are central to uptake, particularly as patients and clinicians weigh chronic treatment burden.