Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology
company focused on discovering and developing potential
best-in-class medicines for serious and rare diseases, today
announced the pricing of an underwritten public offering of shares
of its common stock and, in lieu of common stock to certain
investors, shares of Series B non-voting convertible preferred
stock. Viridian is selling a total of 10,666,600 shares of common
stock at a public offering price of $18.75 per share and 20,000
shares of Series B non-voting convertible preferred stock at a
public offering price of $1,250.06250 per share, which are
convertible into 1,333,400 shares of common stock, subject to
beneficial ownership conversion limits. In addition, Viridian has
granted the underwriters a 30-day option to purchase an additional
1,800,000 shares of common stock at the public offering price, less
underwriting discounts and commissions. The gross proceeds to
Viridian from the offering are expected to be approximately $225.0
million, before deducting underwriting discounts and commissions
and estimated offering expenses payable by Viridian and assuming no
exercise of the underwriters’ option to purchase additional
shares.
All of the shares to be sold in the underwritten public offering
are being offered by Viridian. The offering is expected to close on
or about September 13, 2024, subject to customary closing
conditions.
Viridian intends to use the proceeds from the proposed
underwritten public offering of its shares of common stock and
Series B preferred stock, together with its cash, cash equivalents
and short-term investments, to further its clinical development
programs, as well as for working capital and general corporate
purposes.
Jefferies, Goldman Sachs & Co. LLC, Stifel and RBC Capital
Markets are acting as joint book-running managers for the offering.
Wedbush PacGrow is acting as co-manager for this offering.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (SEC) and became
effective on September 9, 2022. A final prospectus supplement and
accompanying base prospectus relating to and describing the terms
of the offering will be filed with the SEC. The securities
described above have not been qualified under any state blue sky
laws. This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction. The offering will only be
made by means of a prospectus, copies of which may be obtained at
the SEC’s website at www.sec.gov, or by request to Jefferies LLC
(Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, New York, New York 10022; telephone: 877-821-7388; email:
Prospectus_Department@Jefferies.com); Goldman Sachs & Co. LLC
(Attention: Prospectus Department, 200 West Street, New York, NY
10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by
emailing Prospectus-ny@ny.email.gs.com); or Stifel, Nicolaus &
Company, Incorporated (Attention: Prospectus Department, One
Montgomery Street, Suite 3700, San Francisco, CA 94104, by
telephone at (415) 364-2720 or by email at
syndprospectus@stifel.com).
About Viridian Therapeutics, Inc.
Viridian is a biopharmaceutical company focused on engineering
and developing potential best-in-class medicines for patients with
serious and rare diseases. Viridian’s expertise in antibody
discovery and protein engineering enables the development of
differentiated therapeutic candidates for previously validated drug
targets in commercially established disease areas.
Viridian is advancing multiple candidates in the clinic for the
treatment of patients with thyroid eye disease (TED). The company
is conducting a pivotal program for veligrotug, including two
global phase 3 clinical trials (THRIVE and THRIVE-2), to evaluate
its efficacy and safety in patients with active and chronic TED.
Viridian is also advancing VRDN-003 as a potential best-in-class
subcutaneous therapy for the treatment of TED, including two
ongoing global phase 3 clinical trials, REVEAL-1 and REVEAL-2, to
evaluate the efficacy and safety of VRDN-003 in patients with
active and chronic TED.
In addition to its TED franchise, Viridian is advancing a novel
portfolio of neonatal Fc receptor (FcRn) inhibitors, including
VRDN-006 and VRDN-008, which has the potential to be developed in
multiple autoimmune diseases.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements may be identified by the use of words such
as, but not limited to, “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,” or
“would” or other similar terms or expressions that concern the
company’s expectations, plans and intentions. Forward-looking
statements include, without limitation, statements regarding the
underwritten public offering; the company’s expectations with
respect to the use of the net proceeds from the underwritten public
offering; the company’s belief that VRDN-003 may be a best-in-class
subcutaneous therapy for the treatment of TED; and the potential
for the company’s novel portfolio of FcRn inhibitors to be
developed in multiple autoimmune diseases. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based on the company’s current
beliefs, expectations and assumptions. New risks and uncertainties
may emerge from time to time, and it is not possible to predict all
risks and uncertainties. No representations or warranties
(expressed or implied) are made about the accuracy of any such
forward-looking statements. Such forward-looking statements are
subject to a number of material risks and uncertainties including
but not limited to: the satisfaction of customary closing
conditions related to the underwritten public offering; and other
risks and uncertainties identified in the company’s filings with
the SEC, including those risks set forth under the caption “Risk
Factors” in the company’s Quarterly Report on Form 10-Q for the
quarter ended June 30, 2024, filed with the SEC on August 8, 2024,
and other subsequent disclosure documents filed with the SEC. Any
forward-looking statement speaks only as of the date on which it
was made. Neither the company, nor its affiliates, advisors or
representatives, undertake any obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by law.
These forward-looking statements should not be relied upon as
representing the company’s views as of any date subsequent to the
date hereof.
Source: Viridian Therapeutics, Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240911242094/en/
Investor & Media Contact: Louisa Stone, 617-272-4604
Manager, Investor Relations IR@viridiantherapeutics.com
Viridian Therapeutics (NASDAQ:VRDN)
過去 株価チャート
から 10 2024 まで 11 2024
Viridian Therapeutics (NASDAQ:VRDN)
過去 株価チャート
から 11 2023 まで 11 2024
