Viridian Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 30 2021 - 8:00AM
Viridian Therapeutics, Inc. (Nasdaq: VRDN) (the “Company” or
“Viridian”), a biotechnology company advancing new treatments for
patients suffering from serious diseases but underserved by current
therapies, today announced that a majority of the independent
directors serving on the Company’s Board of Directors approved the
grant of stock options to purchase an aggregate of 180,000 shares
of the Company’s common stock to two new employees (the “Inducement
Grants”) on the date that each employee commences service with the
Company (the “Grant Date”). The Inducement Grants have been granted
outside of the Company’s Amended and Restated 2016 Equity Incentive
Plan (the “Plan”) but remain subject to the terms and conditions of
such Plan. The Inducement Grants were granted as an inducement
material to these individuals entering into employment with
Viridian in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Grants have an exercise price per share that is
equal to the closing price of Viridian’s common stock on the new
employee’s Grant Date. The Inducement Grants will vest over a
four-year period, with 25% of the shares vesting on the one-year
anniversary of the date of grant, and thereafter the remainder of
the shares vest in 36 equal monthly installments, subject to
continued employment through the applicable vesting dates.
About Viridian Therapeutics
Viridian Therapeutics is a biotechnology company advancing new
treatments for patients suffering from serious diseases but
underserved by today’s therapies. Viridian’s most advanced program,
VRDN-001, is a differentiated monoclonal antibody targeting
insulin-like growth factor-1 receptor (IGF-1R), a clinically and
commercially validated target for the treatment of thyroid eye
disease (TED). TED is a debilitating autoimmune disease that causes
inflammation and fibrosis within the orbit of the eye which can
cause double vision, pain, and potential blindness. Patients with
severe disease often require multiple remedial surgeries to the
orbit, eye muscles and eyelids. Viridian is based in Waltham,
Massachusetts.
Viridian
Contacts:Investors:Dan FerryLifeSci
Advisors617-430-7576IR@viridiantherapeutics.com
Media:Darby PearsonVerge Scientific
Communications703-587-0831PR@viridiantherapeutics.com
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