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WALTHAM, Mass. - Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biopharmaceutical company engaged in developing treatments for rare diseases, has announced the addition of Jeff Ajer to its Board of Directors. The appointment comes as the company, currently valued at approximately $977 million, trades near its 52-week low of $11.30. Ajer brings over 25 years of experience in the commercialization of rare disease and specialty medicines to Viridian.
Ajer’s career highlights include his role as Executive Vice President and Chief Commercial Officer at BioMarin Pharmaceutical, where he was instrumental in launching five brands and establishing BioMarin’s commercial infrastructure. His previous positions at Genzyme Corporation and ICN Pharmaceuticals also contribute to his extensive background in the industry. According to InvestingPro data, three analysts have recently revised their earnings expectations upward for the upcoming period, suggesting potential optimism about the company’s direction under strengthened leadership.
Steve Mahoney, President and CEO of Viridian, expressed confidence in Ajer’s ability to contribute to the company’s growth, especially as Viridian prepares to submit a Biologics License Application (BLA) for veligrotug, a therapy for thyroid eye disease (TED), and potentially bring it to market. The company maintains a strong liquidity position with a current ratio of 15.43 and more cash than debt on its balance sheet, though InvestingPro analysis indicates the company is currently burning through cash rapidly. Get access to 13 more exclusive ProTips and comprehensive financial analysis through InvestingPro’s detailed research reports.
Viridian also disclosed the issuance of non-qualified stock options to 14 new employees under the Inducement Grants on April 1, 2025. These grants are outside of the company’s 2016 Equity Incentive Plan but adhere to the same terms and conditions. The options will vest over four years, with a quarter vesting on the first anniversary of the employees’ start dates and monthly vesting thereafter, contingent on continued employment.
The company is currently advancing multiple clinical candidates, including veligrotug, which has shown positive results in phase 3 trials. In addition to the TED treatments, Viridian is developing a portfolio of neonatal Fc receptor (FcRn) inhibitors for various autoimmune diseases. Despite the promising pipeline, the stock has experienced significant pressure, declining by 48.45% over the past six months, with analysts setting price targets ranging from $22 to $61 per share.
This announcement comes amidst Viridian’s efforts to strengthen its position in the biopharmaceutical sector, focusing on innovation and commercialization of therapies for serious and rare diseases. The information is based on a press release statement from Viridian Therapeutics.
In other recent news, Viridian Therapeutics has reported significant developments that could impact its financial and operational future. The company announced a new $300 million sales agreement with Jefferies LLC, allowing it to sell shares over time to fund the clinical development of its product candidates, including Veligrotug, and to prepare for commercialization pending regulatory approval. Additionally, Stifel analysts have maintained a Buy rating with a $41 target on Viridian, emphasizing the company’s strong position in the Thyroid Eye Disease market due to successful Phase 3 studies and the potential of its subcutaneous drug, VRDN-003. The analysts noted that VRDN-003 might offer a competitive advantage due to its less frequent dosing schedule compared to other treatments.
Viridian has also made changes to its Board of Directors, appointing Christopher Cain, Ph.D., as a Class I director. Dr. Cain, with a background in biotechnology investments, will chair the Nominating and Corporate Governance Committee. The appointment followed the resignation of Peter Harwin, which was not due to any disagreements with the company’s policies. These developments come amidst Viridian’s strategic efforts to advance its clinical pipeline and expand its market presence. The company is also focusing on its FcRn franchise, including VRDN-006 and VRDN-008, to build on existing treatment successes.
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