Viridian Therapeutics prices public offering of common stock at $22 per share

WALTHAM, Mass. - Viridian Therapeutics, Inc. (NASDAQ:VRDN) has priced an underwritten public offering of 11,425,000 shares of its common stock at $22.00 per share, the biotechnology company announced Tuesday. The offering price represents a slight discount to the current market price of $24.02, with the stock showing strong momentum having gained over 75% in the past six months.

The offering is expected to generate approximately $251.35 million in gross proceeds before deducting underwriting discounts, commissions, and offering expenses. Viridian has also granted underwriters a 30-day option to purchase an additional 1,713,750 shares at the same price. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet, though it has been rapidly burning through its cash reserves.

The company plans to use the proceeds to fund commercial launch activities for its thyroid eye disease (TED) treatments veligrotug and VRDN-003, as well as research and development activities, working capital, and general corporate purposes.

Jefferies, Leerink Partners, Evercore ISI, and Stifel are serving as joint book-running managers for the offering, with Wedbush PacGrow acting as co-manager. The transaction is expected to close on or about October 23, 2025, subject to customary closing conditions.

Viridian focuses on developing treatments for serious and rare diseases. Its lead programs target thyroid eye disease, with veligrotug (VRDN-001) having completed two global Phase 3 clinical trials that met all primary and secondary endpoints. The company is also advancing VRDN-003 as a subcutaneous therapy for TED through two ongoing Phase 3 trials.

Additionally, Viridian is developing a portfolio of neonatal Fc receptor inhibitors that could potentially be used to treat multiple autoimmune diseases.

A registration statement for the offering was filed with the Securities and Exchange Commission and became effective on September 5, 2025, according to the company’s press release statement.

In other recent news, Viridian Therapeutics has announced an underwritten public offering of its common stock and Series B non-voting convertible preferred stock. The proceeds are intended to support the commercial launch of its thyroid eye disease treatments, veligrotug and VRDN-003, along with research and development activities. Additionally, Viridian has secured a royalty financing agreement with DRI Healthcare Acquisitions LP, providing up to $300 million, including $55 million upfront and potential milestone payments. Analyst firm H.C. Wainwright has reaffirmed its Buy rating for Viridian, maintaining a price target of $34.00. Meanwhile, BTIG also reiterated its Buy rating with a $61.00 price target following the completion of enrollment for Viridian’s Phase 3 REVEAL-1/2 trials. Jefferies has assumed coverage of Viridian, assigning a Buy rating and a $44.00 price target, citing potential in the thyroid eye disease market. Furthermore, Viridian has entered into an exclusive licensing agreement with Kissei Pharmaceutical for the development of its treatments in Japan, receiving an upfront payment of $70 million and potential milestone payments. These developments highlight significant progress for Viridian in advancing its thyroid eye disease treatments.

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