Clinical Trial Failure Risk: Failure to achieve positive results in ongoing or future clinical trials for lead candidates like VRDN-001 and VRDN-002 could significantly harm the company's prospects and stock value.

Regulatory Approval Uncertainty Risk: Even with positive clinical data, there is no guarantee that regulatory authorities like the FDA will approve Viridian's product candidates, or that any approval will be timely or without restrictive conditions.

Intense Competition Risk: Viridian operates in a highly competitive therapeutic area, particularly for Thyroid Eye Disease (TED), where established treatments and other pipeline candidates could limit market share and pricing power.