Viridian Therapeutics Inc Stock Price, News & Analysis

Viridian Therapeutics, Inc. (NASDAQ: VRDN) will announce its financial results for Q3 2022 on November 14, 2022, before market opening. A conference call is scheduled for the same day at 8:00 a.m. ET, accessible via phone or live webcast. The company focuses on developing treatments for serious diseases, with its leading program, VRDN-001, targeting insulin-like growth factor-1 receptor for thyroid eye disease (TED). VRDN-002 and VRDN-003 are enhanced versions of this therapy, aimed at improving patient convenience.

Viridian Therapeutics presented promising data for VRDN-001, an anti-IGF-1R antibody, during three late-breaking presentations at the American Thyroid Association (ATA) 91st Annual Meeting. The Phase 1/2 trial showed an 83% proptosis response and significant reductions in clinical activity scores among patients with active thyroid eye disease (TED) after receiving two 10 mg/kg infusions. The pivotal program for VRDN-001 is scheduled to start this quarter, with additional data from the 20 mg/kg cohort expected soon.

Viridian Therapeutics (VRDN) announced three key presentations at the upcoming Annual Meeting of the American Thyroid Association (ATA) from October 19-23, 2022, in Montreal. These include late-breaking data for VRDN-001 from its Phase 1/2 trial in Thyroid Eye Disease, highlighting its potential as a best-in-class IGF-1R antagonist. The presentations aim to detail the efficacy and differentiation of VRDN-001 compared to existing therapies. Investors can expect further updates on clinical trial results and pharmacokinetics later this quarter.

Viridian Therapeutics (Nasdaq: VRDN) announced the approval of stock options to purchase 103,000 shares of common stock for three new employees as part of Inducement Grants on September 1, 2022. These grants, made outside the company's Amended and Restated 2016 Equity Incentive Plan, aim to incentivize new hires in line with Nasdaq Listing Rule 5635(c)(4). The exercise price equals the closing stock price on the grant date, with a four-year vesting period, beginning with 25% vesting on the first anniversary of employment.

Viridian Therapeutics (NASDAQ: VRDN) announced the issuance of 1,725,000 additional shares at $23.50 each, raising approximately $40.5 million. This follows the previous public offering of 11,352,640 shares, totaling around $311 million in gross proceeds. The funds will support clinical development programs, working capital, and general purposes. The offering was facilitated by Jefferies, SVB Securities, and Evercore ISI. Viridian is focused on developing treatments for underserved diseases, with key programs aimed at thyroid eye disease.

Viridian Therapeutics, Inc. (NASDAQ: VRDN) announced an upsized underwritten public offering, aiming to raise approximately $270 million. The company will sell 9,627,640 shares of common stock at $23.50 each and 28,084 shares of series B preferred stock at $1,566.745, convertible into roughly 1,872,360 shares of common stock. The funds will support clinical development and general corporate purposes. The offering is expected to close on or about August 19, 2022.

Viridian Therapeutics, Inc. (NASDAQ: VRDN) announced an underwritten public offering of $175 million in common stock and series B preferred stock, with an additional $26.25 million option for underwriters. The funding aims to support clinical development programs and cover general corporate expenses. The series B preferred stock is convertible into common stock. Jefferies, SVB Securities, and Evercore ISI are managing the offering. The registration statement for this offering is effective, and the company emphasizes that the press release does not constitute an offer to sell securities.

Viridian Therapeutics (NASDAQ: VRDN) announced positive initial data from its ongoing Phase 1/2 trial of VRDN-001 for Thyroid Eye Disease (TED) and promising results from VRDN-002, which has an extended half-life. As of June 30, 2022, the company reported $161 million in cash and equivalents plus a $75 million credit facility, ensuring operational funding into 2024. R&D expenses rose to $21.7 million, contributing to a net loss of $29.5 million in Q2 2022. Future plans include advancing VRDN-001 to Phase 3 and initiating new trials with VRDN-002 and VRDN-003.

Viridian Therapeutics announced positive initial clinical data from the VRDN-001 Phase 1/2 trial for thyroid eye disease (TED). Results showed an 83% response rate in proptosis with a mean reduction of 2.4mm, and 75% of patients experienced complete resolution of diplopia. Notably, there were no serious adverse events reported, indicating a favorable safety profile. Additionally, enrollment for the 20mg/kg cohort is nearly complete, with data expected in Q4 2022. The company also provided insights into the extended half-life of another candidate, VRDN-002, highlighting its potential as a subcutaneous treatment.