Cost of Viridian Therapeutics after the acquisition of Horizon Therapeutics
2022.11.30 11:07
Cost of Viridian Therapeutics after the acquisition of Horizon Therapeutics
Budrigannews.com – Viridian Therapeutics shares (NASDAQ:)jumped on Wednesday as a result of news that Horizon Therapeutics (NASDAQ:)is having “highly preliminary discussions” with three major pharmaceutical corporations.
Viridian Therapeutics has also reacted to the news, with shares currently up over 13% and Horizon Therapeutics up more than 27% during the session on Wednesday.
Inside Skyline’s arrangement of FDA-endorsed drugs is a thyroid eye illness, or TED treatment called Tepezza.However, Viridian is also developing lead product candidates to treat TED.
Analysts at SVB Securities commented on the news and how it affected share prices:VRDN (OP), which is pursuing a multi-pronged, fast-follower strategy to HZNP’s blockbuster Tepezza via their pipeline of IGF-1R antibodies in patients with thyroid eye disease (TED), we see positive readthrough following HZNP’s (OP, Risinger) disclosure that they have engaged in preliminary discussions with multiple large pharma companies regarding a potential acquisition offer (here).
“Overall, we believe that HZNP’s takeover interest validates TED’s strategic interest and value, which should have a positive readthrough for VRDN’s IGF-1R programs.”We see compelling value in the VRDN platform likely to be unlocked by further clinical data de-risking and increasing perception of strategic optionality,” the analysts added, “on the back of this validation and with shares trading at a significant discount to HZNP.”
Somewhere else, B Riley Protections experts made sense of that their firm accepts Viridian shares “seem to be a deal.”
The analysts stated, “We would not be surprised if big pharma picks Viridian as a follow-up takeout candidate given that Viridian has already pushed VRDN-001 into a pivotal study” now that Horizon’s potential acquisition talks are underway.
On a fundamental/DCF valuation basis alone, Viridian continues to appear to be priced attractively.”
