VRDN Stock — Viridian Therapeutics Inc.: Cash, EV, Pipeline

What they do

We target therapeutic areas in which current treatments leave room for improvements in efficacy, safety, and/or dosing convenience. We believe there is significant potential in these areas, for better medicines that address unmet needs, improve outcomes, and expand treatment options for patients.

Source: 10-K FY2025 via SEC EDGAR

Share price

$30.82

Market cap

$3,499.6M

Cash

$955.2M

Enterprise value

$2,565.3M

Balance sheet

Cash	$955.2M
Debt	$20.9M
Net cash	$934.3M
Enterprise value	$2,565.3M
Basic shares	113.6M shares
Fully diluted shares	133.0M shares
Fully diluted market cap	$4,098.0M
Cash per share	$8.41
Quarterly burn	$105.3M
Cash runway	9.1 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-10.

Share structure

Common

113.3M

Pre-funded warrants

0.0M

Options

16.6M

RSUs

1.1M

Warrants

—

Converts

—

Conv preferred

—

ESPP reserve

2.0M

FDSO

133.0M

Cap table as of 2026-11-02.

Price history

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Next catalyst

VRDN-008 · Est. Nov 11, 2026 · half midpoint · guided Now

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 11, 2026 Now half midpoint	VRDN-008 Phase 1 healthy-volunteer study of VRDN-008: data	Phase 1	Not disclosed	2H 2026
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	TSHR antibody (unnamed) TSHR program IND submission for thyroid eye disease and Graves’ disease	Not disclosed	thyroid eye disease and Graves’ disease	Q4 2026
GUIDEDEst. Feb 14, 2027 in 7 wks quarter midpoint	elegrobart (VRDN-003) BLA submission for elegrobart in thyroid eye disease	Not disclosed	elegrobart	Q1 2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Veligrotug

Phase 3 · Active Modality: monoclonal antibody

Target IGF-1R

Partnerships Kissei Pharmaceutical: exclusive license to develop and commercialize veligrotug and elegrobart in Japan

Indications

Thyroid eye disease (TED) (Phase 3)

Status note Differentiated humanized anti-IGF-1R monoclonal antibody for intravenous administration in TED. FDA granted Breakthrough Therapy designation; the company's most advanced program, now seeking marketing approval.

Elegrobart

Phase 3 · Active Modality: monoclonal antibody

Aliases VRDN-003

Target IGF-1R

Partnerships Kissei Pharmaceutical: exclusive license to develop and commercialize veligrotug and elegrobart in Japan; Zenas BioPharma: license for IGF-1R antibody products for non-oncology indications in greater China

Indications

Active TED (Phase 3)
Chronic TED (Phase 3)

Status note Anti-IGF-1R monoclonal antibody for subcutaneous administration in TED. Evaluating in two global Phase 3 trials, REVEAL-1 (active TED) and REVEAL-2 (chronic TED); conducting a safety study to meet the 300-patient safety database requirement.

Anti-TSHR candidate (unnamed)

Preclinical · Active Modality: monoclonal antibody

Target TSHR

Partnerships Paragon Therapeutics: option/research agreement covering antibody technology

Indications

Graves' disease (Preclinical)
Thyroid eye disease (TED) (Preclinical)

Status note Anti-TSHR candidate with potential use in Graves' disease and TED; preclinical.

VRDN-006 / VRDN-008

Preclinical · Active

Target FcRn

Partnerships Paragon Therapeutics: option/research agreement covering antibody technology

Status note Portfolio of engineered anti-neonatal FcRn inhibitors in preclinical development; filing names no indications.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	veligrotrug (LUMVOA™)
Lead indication	Thyroid Eye Disease
Lead phase	Phase 4
Active trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06625411	Phase 3	Active, not recruiting	Sponsor	VRDN	—	Thyroid Eye Disease	—
NCT06625398	Phase 3	Active, not recruiting	Sponsor	VRDN	—	Thyroid Eye Disease	—
NCT06812325	Phase 3	Active, not recruiting	Sponsor	VRDN	—	Thyroid Eye Disease (TED)	—

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Viridian Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Avoro Capital Advisors	2,500,000	+1,000,000	0.41%	2026-08-14
Baker Bros. Advisors	2,383,025	+411,347	0.22%	2026-08-14
Tang Capital Partners	1,792,626	no change	1.50%	2026-08-14
OrbiMed Advisors	1,000,000	+1,000,000	0.02%	2026-08-14
Perceptive Advisors	581,980	-588,849	0.17%	2026-08-14
Ikarian Capital	425,000	+425,000	1.28%	2026-08-14
ADAR1 Capital Management	0	-304,422	0.00%	2026-08-14
Vivo Capital	0	-166,288	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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VRDN — Viridian Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

VRDN — Viridian Therapeutics Inc.