Viridian Therapeutics Inc - VRDN STOCK NEWS

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.

Viridian Therapeutics (NASDAQ: VRDN) has announced a webcast on September 10, 2024, at 8:00 a.m. ET to present topline results from the THRIVE global phase 3 clinical trial. This trial evaluated the efficacy and safety of VRDN-001 in patients with active thyroid eye disease (TED). The company, focused on developing potential best-in-class medicines for serious and rare diseases, will host a conference call alongside the webcast. Interested parties can access the webcast through Viridian's website or join the conference call using provided dial-in numbers. A replay of the webcast will be available after the event.

Viridian Therapeutics (Nasdaq: VRDN), a biopharmaceutical company focused on developing potential best-in-class medicines for serious and rare diseases, has announced the approval of Inducement Grants for five new employees. These grants, approved by the Compensation Committee of the company's Board of Directors, consist of non-qualified stock options to purchase 173,000 shares of Viridian's common stock.

The Inducement Grants, issued on September 3, 2024, are outside the company's Amended and Restated 2016 Equity Incentive Plan but remain subject to its terms. They have an exercise price equal to the closing price of Viridian's stock on the grant date and will vest over four years, with 25% vesting after one year and the remainder vesting in 36 monthly installments, contingent on continued employment.

Viridian Therapeutics (NASDAQ: VRDN) reported progress and Q2 2024 financial results. Key highlights include:

1. THRIVE VRDN-001 phase 3 trial in active thyroid eye disease (TED) on track for September 2024 readout.

2. THRIVE-2 VRDN-001 phase 3 trial in chronic TED completed enrollment, exceeding target; readout expected year-end 2024.

3. REVEAL-1 and REVEAL-2 phase 3 trials for subcutaneous VRDN-003 in TED to start August 2024.

4. IND submission for VRDN-006 (FcRn inhibitor) planned by year-end 2024.

5. Cash position of $571.4 million as of June 30, 2024, providing runway into second half of 2026.

6. Q2 2024 net loss of $65.0 million, compared to $55.1 million in Q2 2023.

Viridian Therapeutics (Nasdaq: VRDN), a biopharmaceutical company focused on developing potential best-in-class medicines for serious and rare diseases, has announced the approval of inducement grants for two new employees. The grants, approved by the Compensation Committee of the company's Board of Directors, consist of non-qualified stock options to purchase 19,500 shares of Viridian's common stock.

These grants, made on August 1, 2024, are outside the company's Amended and Restated 2016 Equity Incentive Plan but remain subject to its terms. The options have an exercise price equal to the closing price of Viridian's stock on the grant date and will vest over four years, with 25% vesting after one year and the remainder vesting in 36 monthly installments, contingent on continued employment.

Viridian Therapeutics (NASDAQ: VRDN) has completed enrollment for its THRIVE-2 phase 3 clinical trial of VRDN-001 in patients with chronic Thyroid Eye Disease (TED). The trial exceeded its target, enrolling 188 patients globally, with about 40% from US sites. Topline data from THRIVE-2 is expected by year-end 2024.

The company's THRIVE trial for active TED also surpassed its enrollment goal in March 2024, with approximately 50% of patients from US sites. Topline results for THRIVE are anticipated in September 2024. Viridian plans to initiate two subcutaneous VRDN-003 phase 3 clinical trials, REVEAL-1 and REVEAL-2, in August as scheduled.

Viridian Therapeutics announced the approval of inducement grants for 10 new employees, totaling 538,000 shares of common stock, effective July 1, 2024. These grants, approved by the independent directors on the Compensation Committee, are issued outside the company’s 2016 Equity Incentive Plan but adhere to its terms. The grants, designed to attract new talent under Nasdaq Listing Rule 5635(c)(4), have an exercise price matching the stock’s closing price on the grant date. Vesting occurs over four years, with 25% vesting on the one-year employment anniversary and the remainder vesting in 36 equal monthly installments.

Viridian Therapeutics is set to launch two phase 3 clinical trials, REVEAL-1 and REVEAL-2, for their subcutaneous (SC) VRDN-003 product aimed at treating moderate-to-severe Thyroid Eye Disease (TED). The trials will begin in August 2024, with results expected in the first half of 2026. VRDN-003, an anti-IGF-1R antibody, offers a less burdensome dosing regimen compared to current treatments. The company plans to submit a Biologics License Application (BLA) by the end of 2026. If successful, VRDN-003 could become a best-in-class treatment option administered as infrequently as every 8 weeks.