Viridian Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
February 06 2024 - 4:01PM
Business Wire
Viridian Therapeutics, Inc. (Nasdaq: VRDN) (the “company” or
“Viridian”), a biopharmaceutical company focused on discovering and
developing potential best-in-class medicines for serious and rare
diseases, today announced that a majority of the independent
directors serving on the Compensation Committee of the company’s
Board of Directors approved the grant of non-qualified stock
options to an employee to purchase up to 30,000 shares of the
company’s common stock (the “Inducement Grant”) on February 1, 2024
(the “Grant Date”). The Inducement Grant has been granted outside
of the company’s Amended and Restated 2016 Equity Incentive Plan
(the “Plan”) but remains subject to the terms and conditions of
such Plan. The Inducement Grant was granted as an inducement
material to this individual entering into employment with Viridian
in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Grant has an exercise price per share that is
equal to the closing price of Viridian’s common stock on the Grant
Date. The Inducement Grant will vest over a four-year period, with
25% of the shares vesting on the one-year anniversary of the
employee’s start date, and thereafter the remainder of the shares
vest in 36 equal monthly installments, subject to the employee’s
continued employment with Viridian through the applicable vesting
dates.
About Viridian Therapeutics
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 engineering enables it to develop 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 two global Phase 3 clinical trials (THRIVE and
THRIVE-2) to evaluate the safety and efficacy of VRDN-001 in
patients with active and chronic TED. Viridian’s goal is to advance
VRDN-001 as a best-in-class IV therapy followed by VRDN-003 as a
first- and best-in-class subcutaneous therapy for the treatment of
TED.
In addition to its TED portfolio, Viridian is advancing a novel
portfolio of neonatal Fc receptor (FcRn) inhibitors, VRDN-006 and
VRDN-008, which has the potential to be developed in multiple
autoimmune diseases.
Viridian is based in Waltham, Massachusetts. For more
information, please visit www.viridiantherapeutics.com. Follow
Viridian on LinkedIn and X.
Source: Viridian Therapeutics, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20240206666436/en/
Louisa Stone, 617-272-4604 Manager, Investor Relations
IR@viridiantherapeutics.com
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