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Viridian Therapeutics, Inc. engages in discovering, developing, and commercializing treatments for serious and rare diseases. It develops IGF-1R therapies to treat thyroid eye disease (TED), including Veligrotrug, a differentiated humanized monoclonal antibody targeting IGF-1R intravenously administered, and Elegrobart, a low-volume, infrequently dosed subcutaneous IGF-1R. The company also develops an anti-thyroid-stimulating hormone receptor (TSHR) candidate for the treatment of Graves' disease and TED. Its portfolio of engineered inhibitors of the neonatal Fc receptor (FcFn) includes VRDN-006, a highly selective Fc fragment, and VRDN-008, a half-life extended bispecific FcRn inhibitor comprising an GC fragment and an albumin-binding domain designed to prolong IGG suppression. The company was formerly known as Miragen Therapeutics, Inc. and changed its name to Viridian Therapeutics, Inc. in January 2021. Viridian Therapeutics, Inc. was incorporated in 2010 and is headquartered in Waltham, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $71M | $-337M | $-343M | $-277M | -47.4% | 23359.9% | - |
| 2024 | $0M | $-267M | $-270M | $-233M | -40.2% | -3.8% | - |
| 2023 | $0M | $-236M | $-238M | $-185M | -53.8% | -82.3% | - |
| 2022 | $2M | $-129M | $-130M | $-95M | -32.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1.77 | 0.31 | 0.30 | 70.85 |
| Operating Expense | 136.08 | 254.76 | 299.34 | 434.24 |
| Operating Income | -134.30 | -254.45 | -299.04 | -363.39 |
| EBITDA | -129.13 | -235.88 | -267.21 | -337.19 |
| EBIT | -129.39 | -236.40 | -267.75 | -337.65 |
| Pretax Income | -129.87 | -237.73 | -269.95 | -342.60 |
| Net Income | -129.87 | -237.73 | -269.95 | -342.60 |
| Net Income Common Stockholders | -129.87 | -237.73 | -269.95 | -342.60 |
| Total Expenses | 136.08 | 254.76 | 299.34 | 434.24 |
| Interest Expense | 0.49 | 1.33 | 2.20 | 4.95 |
| Interest Income | 4.92 | 18.24 | 31.60 | 27.40 |
| Research And Development | 100.89 | 159.76 | 238.25 | 338.93 |
| Selling General And Administration | 35.18 | 95 | 61.08 | 95.31 |
| Normalized EBITDA | -129.13 | -235.88 | -267.21 | -337.19 |
| Normalized Income | -129.87 | -237.73 | -269.95 | -342.60 |
| Basic EPS | -4.05 | -5.31 | -3.07 | -3.32 |
| Diluted EPS | -4.05 | -5.31 | -3.07 | -3.32 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -129.87 | -237.73 | -269.95 | -342.60 |
| Reconciled Depreciation | 0.26 | 0.52 | 0.54 | 0.46 |
| Net Interest Income | 4.43 | 16.91 | 29.40 | 22.45 |
| Net Income From Continuing And Discontinued Operation | -129.87 | -237.73 | -269.95 | -342.60 |
| Total Operating Income As Reported | -134.30 | -254.45 | -299.04 | -363.39 |
| Diluted Average Shares | 32.09 | 44.76 | 67.89 | 84.80 |
| Basic Average Shares | 32.09 | 44.76 | 67.89 | 84.80 |
| Diluted NI Availto Com Stockholders | -129.87 | -237.73 | -269.95 | -342.60 |
| Net Income Including Noncontrolling Interests | -129.87 | -237.73 | -269.95 | -342.60 |
| Net Income Continuous Operations | -129.87 | -237.73 | -269.95 | -342.60 |
| Other Income Expense | 0 | -0.19 | -0.31 | -1.66 |
| Other Non Operating Income Expenses | 0 | -0.19 | -0.31 | -1.66 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | 4.43 | 16.91 | 29.40 | 22.45 |
| Interest Expense Non Operating | 0.49 | 1.33 | 2.20 | 4.95 |
| Interest Income Non Operating | 4.92 | 18.24 | 31.60 | 27.40 |
| General And Administrative Expense | 35.18 | 95 | 61.08 | 95.31 |
| Other Gand A | 35.18 | 95 | 61.08 | 95.31 |
| Operating Revenue | 1.77 | 0.31 | 0.30 | 70.85 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Viridian Therapeutics, Inc.this co. | VRDN | $1.4B | - | 2.30 | -47.4% | -1.84 |
| AtriCure, Inc. | ATRC | $1.4B | - | 2.77 | 0.0% | 114.65 |
| Biohaven Ltd. | BHVN | $1.4B | - | 23.47 | -1418.8% | -1.93 |
| NovoCure Limited | NVCR | $1.4B | - | 3.94 | -40.0% | -8.57 |
| Ardent Health, Inc. | ARDT | $1.4B | 10.03 |
| 1.07 |
| 8.1% |
| 7.02 |
| Pulse Biosciences, Inc. | PLSE | $1.4B | - | 17.00 | -90.2% | -17.15 |
| MBX Biosciences, Inc. | MBX | $1.4B | - | 3.48 | -23.6% | -10.08 |
| Clover Health Investments, Corp. | CLOV | $1.4B | - | 4.34 | -27.7% | -14.49 |
| Wave Life Sciences Ltd. | WVE | $1.4B | - | 2.55 | -39.4% | -4.28 |
| Peer Median | - | 10.03 | 3.71 | -33.6% | -6.42 | |