WALTHAM, Mass. - Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company, has initiated a public offering for its common and Series B preferred stock, the company announced today. The offering includes a 30-day option for underwriters to purchase additional common stock shares. The Series B preferred stock will be convertible into common stock at the holder's discretion, subject to certain ownership limits.
The company plans to allocate the proceeds from this offering, along with its existing cash and investments, to propel its clinical development programs. The funds will also support working capital and other corporate needs.
Jefferies and Leerink Partners are serving as the joint lead book-running managers for the offering. The securities offered have been registered with the Securities and Exchange Commission (SEC) since September 9, 2022. Details regarding the offering are available in a preliminary prospectus supplement, which is filed with the SEC.
Viridian is currently advancing its therapeutic candidates, including multiple clinical trials for thyroid eye disease (TED). The company aims to position VRDN-001 as a leading intravenous therapy, followed by VRDN-003 as a premier subcutaneous treatment for TED. Additionally, Viridian is developing a new class of neonatal Fc receptor (FcRn) inhibitors for potential use in various autoimmune diseases.
The information in this article is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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