Viridian Therapeutics reported positive Phase 3 efficacy for elegrobart (IGF-1R monoclonal antibody) in active thyroid eye disease, meeting the primary endpoint in its Reveal-1 trial. The company said it plans to submit for regulatory approval next year, with subcutaneous dosing every four or eight weeks. Market reaction was negative despite the topline result: shares fell sharply as investors weighed nuances in effect size and perceived commercial differentiation versus existing therapy Tepezza (teprotumumab) and Viridian’s own veligrotug program. Analysts flagged that some dataset elements came in below expectations, even as safety was described as acceptable. The Phase 3 readout shows how in eye disease—where dosing convenience and comparative magnitude matter as much as statistical success—companies can face immediate pushback on commercial positioning even after clearing a key endpoint.