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Viridian Therapeutics, Inc. (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients suffering from thyroid eye disease (TED). The company's primary product candidate, VRDN-001, is an insulin-like growth factor-1 receptor (IGF-1R) monoclonal antibody (mAb) that holds promise for treating TED, a rare and debilitating condition.
Viridian Therapeutics leverages cutting-edge science and a deep understanding of disease biology to advance its therapeutic candidates. Their lead candidate, VRDN-001, is aimed at mitigating the symptoms of TED, which include inflammation, pain, and vision impairment. By targeting IGF-1R, VRDN-001 has the potential to offer a novel treatment option for patients who currently have limited choices.
The company’s commitment to scientific excellence is reflected in its rigorous clinical trials and strategic partnerships. Viridian collaborates with leading academic institutions and industry partners to enhance the development and potential commercialization of its therapies. These collaborations provide valuable resources and expertise, helping to accelerate the progress of their drug candidates.
In terms of financial health, Viridian Therapeutics is well-positioned with sufficient funding to advance its clinical programs. The company continuously explores opportunities to bolster its financial stability through strategic partnerships and potential equity financing. Viridian's prudent financial management ensures that it can sustain its operations and continue its mission to bring transformative therapies to patients in need.
Viridian's focus on thyroid eye disease addresses a significant unmet medical need. The company aims to develop treatments that improve the quality of life for patients suffering from this challenging condition. By pursuing innovative approaches and maintaining a patient-centric mindset, Viridian is making meaningful strides in the field of biopharmaceuticals.
Stay updated with the latest news and developments from Viridian Therapeutics as they progress in their mission to deliver groundbreaking therapies for underserved patient populations.
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.
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.
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