Viridian Therapeutics, a Nasdaq-listed biopharmaceutical company (VRDN), granted stock options to six new employees on November 1, 2024. These options, totaling 150,600 shares of common stock, are considered inducement grants designed to attract these individuals to Viridian. While outside the company’s standard equity incentive plan, the grants adhere to its terms and conditions and comply with Nasdaq Listing Rule 5635(c)(4). The exercise price for these options matches Viridian’s common stock closing price on the grant date. Vesting occurs over four years, with an initial 25% vesting after one year of employment, followed by monthly vesting of the remaining shares over the subsequent three years, contingent on continued employment.
Viridian focuses on developing best-in-class medicines for individuals with severe and rare diseases. Their specialization lies in antibody discovery and protein engineering, allowing them to create differentiated therapies targeting validated drug targets within established disease areas. The company primarily focuses on treatments for thyroid eye disease (TED). Veligrotug (VRDN-001) is currently undergoing evaluation in two global Phase 3 clinical trials, THRIVE and THRIVE-2, assessing its efficacy and safety in patients with active and chronic TED.
Furthermore, Viridian is developing VRDN-003, a potential best-in-class subcutaneous TED therapy. This treatment is being investigated in two ongoing global Phase 3 pivotal clinical trials, REVEAL-1 and REVEAL-2, which similarly evaluate its efficacy and safety in active and chronic TED patients. Beyond TED, Viridian is also progressing a portfolio of neonatal Fc receptor (FcRn) inhibitors, including VRDN-006 and VRDN-008. These inhibitors hold promise for development across multiple autoimmune diseases. The company is located in Waltham, Massachusetts. Further information can be found on their website and social media channels.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Ferry, a computer data scientist, focuses on the latest clinical trial industry news and trends.
