One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Viridian Therapeutics, Inc.
VRDN · NCM · Healthcare · Biotechnology
Current price
$31.25
52-week range
$13.18 - $34.29
Market cap
$3.55B
Balance sheet
Healthy
-73.44x Concerning
Net cash $709.71M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 108.0% last year.
- Risk Return on equity was -83.7% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 0.2% (peer median: 1.1%).
What this company does
Viridian Therapeutics, Inc.
Viridian Therapeutics is a company focused on creating new medicines for difficult illnesses, particularly those affecting the thyroid. Their main money-maker (if they were selling these medicines already) would come from people needing these treatments, and it matters because developing new drugs is a long and expensive process.
How the company got here
Viridian Therapeutics, Inc. was incorporated in 2010 and was formerly known as Miragen Therapeutics, Inc.. The company changed its name to Viridian Therapeutics, Inc. in January 2021, following a reverse merger with a private Viridian Therapeutics.. This strategic reinvention reset the business around rare-disease biologics, with a concentrated focus on thyroid eye disease (TED).. As of fiscal year 2024, Viridian remained a pre-revenue company with no approved products, meaning its value is tied to its development pipeline..
What it actually does
Viridian Therapeutics is a biotechnology company focused on discovering, developing, and commercializing treatments for serious and rare diseases.. They leverage their expertise in antibody discovery and protein engineering to create new therapies.. The company's strategy involves developing differentiated investigational therapeutic candidates for well-validated targets, aiming to provide improved clinical activity, safety, tolerability, and convenient delivery for patients.. Viridian's primary focus is on autoimmune and rare diseases, with a significant emphasis on thyroid eye disease (TED)..
Thyroid Eye Disease (TED) Therapies
Viridian is developing therapies targeting thyroid eye disease (TED), a rare autoimmune condition that can cause eye bulging, double vision, and pain.. Their lead product candidate is Veligrotug (formerly VRDN-001), an intravenous (IV) humanized monoclonal antibody that targets the insulin-like growth factor-1 receptor (IGF-1R).. This therapy is administered through IV infusions, with a full treatment course involving five infusions given three weeks apart.. The company is also developing Elegrobart (formerly VRDN-003), a subcutaneous (SC) version of their IGF-1R therapy, designed for lower volume and less frequent dosing to improve patient convenience.. These therapies aim to reduce the over-signaling of IGF-1R, which causes inflammation and tissue growth associated with TED..
FcRn Inhibitors
Viridian is also developing a portfolio of engineered inhibitors for the neonatal Fc receptor (FcRn), including VRDN-006 and VRDN-008.. These inhibitors are designed for the treatment of various autoimmune diseases.. VRDN-008 is a half-life extended bispecific FcRn inhibitor that aims to prolong immunoglobulin G (IgG) suppression, which is a key mechanism in managing autoimmune conditions.. Recent Phase 1 results for VRDN-008 have shown promising data, suggesting a potential best-in-class profile with subcutaneous dosing every eight weeks.. The company plans to advance VRDN-008 into pivotal development, with a registrational trial in myasthenia gravis (MG) anticipated to start in mid-2027..
What management is betting on now
Viridian's management is focused on becoming a leading company in treating thyroid eye disease (TED) by developing differentiated therapies that improve patient outcomes and reduce the burden of treatment.. A key strategic priority is advancing their subcutaneous anti-IGF-1R programs, like Elegrobart (VRDN-003), to offer greater convenience for patients managing chronic TED.. The company is also focused on rapidly advancing VRDN-008 into registrational development for autoimmune diseases, aiming for a potential rapid path to regulatory approval.. Viridian's overall strategy is to allocate research and development resources to address high unmet medical needs, designing therapeutics with differentiated clinical activity, improved safety, and convenient administration..
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-73.45M
FY2025 Q1
$-92.74M
FY2025 Q2
$-75.42M
FY2025 Q3
$-84.74M
FY2025 Q4
$-23.99M
FY2026 Q1
$-119.68M
FY2026 Q2
$-106.63M
FY2026 Q3
$-93.14M
Revenue
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Net income
$-101.21M
Diluted EPS
—
Operating cash flow
$-92.77M
Free cash flow
$-93.14M
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Sources
Revenue
—
Net income
$-127.12M
Diluted EPS
—
Operating cash flow
$-105.32M
Free cash flow
$-106.63M
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Sources
Revenue
—
Net income
$-104.90M
Diluted EPS
—
Operating cash flow
$-119.65M
Free cash flow
$-119.68M
Fetching…
Sources
Revenue
—
Net income
$-120.36M
Diluted EPS
—
Operating cash flow
$-23.75M
Free cash flow
$-23.99M
Fetching…
Sources
Revenue
—
Net income
$-34.60M
Diluted EPS
—
Operating cash flow
$-84.61M
Free cash flow
$-84.74M
Fetching…
Sources
Revenue
—
Net income
$-100.73M
Diluted EPS
—
Operating cash flow
$-75.37M
Free cash flow
$-75.42M
Fetching…
Sources
Revenue
—
Net income
$-86.91M
Diluted EPS
—
Operating cash flow
$-92.65M
Free cash flow
$-92.74M
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Sources
Revenue
—
Net income
$-79.72M
Diluted EPS
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Operating cash flow
$-73.33M
Free cash flow
$-73.45M
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Sources
Is it cheap or expensive?
Fair value — vs current price $31.25
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $709.7M - more cash than debt. Interest coverage -73.4x.
Net debt
$-709.71M
Interest coverage
-73.44x
Viridian Therapeutics, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
VRDN
BASELINE
Viridian Therapeutics, Inc.
Total debt $245.50M Interest coverage -73.44x This is the baseline the peer rows are being compared against.
Total debt $65.33M Interest coverage -13.00x Neither company has much profit cushion over interest right now.
Total debt $53.13M Interest coverage -6.93x Neither company has much profit cushion over interest right now.
Total debt $26.53M Interest coverage -8.37x Neither company has much profit cushion over interest right now.
Total debt $230.14M Interest coverage -15.10x Neither company has much profit cushion over interest right now.
Total debt $2.00M Interest coverage -10.88x Neither company has much profit cushion over interest right now.
What you should know
The case for and against VRDN
1 Reward
2 Risks
Rewards
-
Revenue grew 108.0% last year.
Risks
-
Return on equity was -83.7% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 0.2% (peer median: 1.1%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-14.66x
P/B
7.35x
P/S
134.89x
EV/EBITDA
-6.28x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
-1,781.4%
Net margin
0.0%
ROE
-83.7%
ROA
-36.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.42x
Current ratio
14.46x
Quick ratio
14.06x
Total debt
$245.50M
Total cash
$955.21M
Growth
How the business has been compounding
Revenue TTM
$8.32M
Revenue 5Y CAGR
-14.9%
EPS TTM
-3.85
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-341.50M
Free CF TTM
$-276.89M
FCF margin
-3,326.0%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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