Viridian Therapeutics Inc Stock Price, News & Analysis

Viridian Therapeutics (NASDAQ: VRDN) announces its 2025 priorities following positive Phase 3 results for veligrotug in thyroid eye disease (TED). The company plans to submit a Biologics License Application (BLA) for veligrotug in H2 2025, following successful THRIVE and THRIVE-2 trials showing significant improvements in proptosis, clinical activity score, and diplopia.

Two Phase 3 trials (REVEAL-1 and REVEAL-2) for subcutaneous VRDN-003 are ongoing, with topline data expected in H1 2026. The company submitted an IND for VRDN-006 (FcRn inhibitor) in December 2024, with clinical data expected in Q3 2025. VRDN-008, a bispecific FcRn inhibitor, is advancing with preclinical studies.

The company reports a strong cash position of $753 million as of September 2024, providing runway into H2 2027.

Viridian Therapeutics announced positive topline results from the THRIVE-2 Phase 3 trial of veligrotug in chronic thyroid eye disease (TED). The trial met all primary and secondary endpoints with high statistical significance, achieving a 56% proptosis responder rate and diplopia responder rate at week 15. The drug was generally well-tolerated with 94% of patients completing treatment.

Key highlights include a 2.34mm mean reduction in proptosis, 32% complete diplopia resolution rate, and 54% of patients achieving maximal therapeutic effect on Clinical Activity Score. The company plans to submit a BLA in the second half of 2025. With $753 million cash position as of September 2024, Viridian has runway into second half of 2027.

Viridian Therapeutics (NASDAQ: VRDN) has announced it will host a conference call and webcast on December 16, 2024, at 8:00 a.m. ET to present topline results from its THRIVE-2 Phase 3 clinical trial. The study evaluated the efficacy and safety of veligrotug in patients with chronic thyroid eye disease (TED). Investors can access the webcast through the company's website under 'Events and Presentations' or join via phone using the provided dial-in numbers.

Viridian Therapeutics (Nasdaq: VRDN) announced the approval of inducement grants for 10 new employees. The grants consist of non-qualified stock options to purchase 391,500 shares of common stock, approved by the company's Compensation Committee on December 2, 2024. The options were granted outside the company's Amended and Restated 2016 Equity Incentive Plan but follow its terms and conditions.

The exercise price equals the closing price of Viridian's stock on the grant date. The options will vest over four years, with 25% vesting after one year and the remaining shares vesting in 36 monthly installments, subject to continued employment.

Viridian Therapeutics reported its Q3 2024 financial results and recent business progress.

The company achieved positive topline results from its phase 3 trial for veligrotug in treating active thyroid eye disease (TED). The THRIVE-2 trial for chronic TED is on track for a December 2024 readout. Additionally, two global phase 3 trials for VRDN-003 were initiated in August, with data expected in H1 2026.

New non-human primate data for VRDN-008 showed a potential best-in-class pharmacokinetic and pharmacodynamic profile. An IND submission is planned for year-end 2025. VRDN-006 is also on track for an IND submission by year-end 2024, with proof-of-concept data expected in H2 2025.

The company raised $243.2 million in a public offering, extending its cash runway into H2 2027. As of September 30, 2024, Viridian had $753.2 million in cash and equivalents. Net loss for the quarter was $76.7 million, up from $47.7 million a year earlier, driven by increased R&D expenses.

Viridian Therapeutics (Nasdaq: VRDN) announced the approval of inducement grants for six new employees. The grants consist of non-qualified stock options to purchase 150,600 shares of common stock, effective November 1, 2024. The options will vest over four years, with 25% vesting after one year and the remainder vesting in 36 monthly installments. The exercise price equals the closing price on the grant date. These grants were made outside the company's Amended and Restated 2016 Equity Incentive Plan but follow its terms and conditions, in accordance with Nasdaq Listing Rule 5635(c)(4).

Viridian Therapeutics (NASDAQ: VRDN) has announced the pricing of an upsized public offering of common and preferred stock. The company is selling 10,666,600 shares of common stock at $18.75 per share and 20,000 shares of Series B non-voting convertible preferred stock at $1,250.06250 per share. The preferred stock is convertible into 1,333,400 shares of common stock. Viridian expects to raise approximately $225.0 million in gross proceeds. The underwriters have a 30-day option to purchase an additional 1,800,000 shares of common stock. The offering is set to close around September 13, 2024. Viridian plans to use the proceeds for clinical development programs, working capital, and general corporate purposes.

Viridian Therapeutics (NASDAQ: VRDN) has announced a proposed underwritten public offering of $150 million in common stock and Series B non-voting convertible preferred stock. The company plans to grant underwriters a 30-day option to purchase up to an additional $22.5 million of common stock. Each Series B preferred stock share will be convertible into 66.67 common stock shares, subject to ownership limits.

Viridian intends to use the proceeds to advance its clinical development programs, working capital, and general corporate purposes. Jefferies, Goldman Sachs & Co. , Stifel, and RBC Capital Markets are acting as joint book-running managers, with Wedbush PacGrow as co-manager. The offering is subject to market conditions, and there's no assurance of its completion.

Viridian Therapeutics (NASDAQ: VRDN) announced positive topline results from the THRIVE Phase 3 clinical trial of veligrotug (VRDN-001) in patients with active thyroid eye disease (TED). The trial met all primary and secondary endpoints, showing significant improvements in proptosis, diplopia, and clinical activity score. Key highlights include:

- 70% proptosis responder rate (64% placebo-adjusted, p < 0.0001)
- 54% complete resolution of diplopia (43% placebo-adjusted, p < 0.0001)
- 64% reduction of Clinical Activity Score to 0 or 1 (46% placebo-adjusted, p < 0.0001)
- Generally well-tolerated with no treatment-related serious adverse events

The company plans to submit a Biologics License Application (BLA) for veligrotug in the second half of 2025. Additionally, Viridian initiated Phase 3 trials for VRDN-003, a subcutaneous anti-IGF-1R antibody, with topline data expected in the first half of 2026.