--- title: "Viridian Therapeutics (VRDN) news: offering and convertible notes" url: "https://aibio.space/companies/viridian-therapeutics/" publisher: "aibio.space (Biotech Investor Relations News)" summary: "VRDN offering and convertible notes news. Viridian Therapeutics news for investors: Viridian Therapeutics sells Lumvoa, an infused antibody for thyroid eye…" --- Desk view · Opinion · Updated Oct 22, 2026 ## Viridian has its approval. Now it has to take patients from Amgen Viridian has done the hard clinical and regulatory work in thyroid eye disease and now has to prove it can sell against Amgen. The cash pile buys time, and elegrobart gives it a second, more convenient product. The next few quarters of Lumvoa sales will matter more than any trial readout. Read the full desk view aibio.space Investor Rank · Opinion **9** /10 Most positive view Lumvoa is approved and elegrobart has two positive phase 3 trials, with nearly $1 billion in cash; winning share from Amgen's Tepezza is the test. - **Technology**: 2/2 - **Odds**: 2/2 - **Balance sheet**: 2/2 - **Risk**: 1/2 - **Momentum**: 2/2 Opinion only. The Investor Rank is aibio.space's opinion of the company's business position, drawn from the public sources on this page. It is not a recommendation to buy, sell or hold any security and it is not investment advice. It does not consider the share price, valuation or your circumstances, and it can change at any time. Payments from companies never affect it. [How the rank works](https://aibio.space/disclosures/#rank). - **Technology**: **Validated target, two products.** Lumvoa is approved in active and chronic TED, and subcutaneous elegrobart has two positive phase 3 trials. - **Odds**: **Regulatory risk mostly behind it.** Lumvoa is on the market; elegrobart's BLA is planned for Q1 2027 after both phase 3 trials met their primary endpoints. - **Balance sheet**: **Well funded for launch.** Cash was $981.5 million at June 30 against a $127.1 million quarterly loss, with low-coupon convertible debt. - **Main risk**: **Taking share from Tepezza.** Lumvoa matches its price, so it must win on dosing and labeling data against a $1.9 billion incumbent owned by Amgen. - **Watch next**: **First sales.** Q3 results will show the first Lumvoa revenue, and VRDN-008 data are due in the second half of 2026. ## Top news on Viridian 1. 2026-05-11 Financings [Viridian raises $394 million in convertible notes and stock, repays Hercules loan](https://aibio.space/news/viridian-raises-394-million-convertible-notes-stock-repays-hercules/) The company sold $250 million of 1.75% notes due 2032 and shares at $17.00 ahead of its first approval. It used part of the money to pay off about $55.1 million of term debt. 2. 2026-05-06 Debt Financing [Viridian completes $250,000,000 convertible notes offering](https://aibio.space/news/viridian-completes-250-000-000-convertible-notes-offering/) Viridian's $250,000,000 offering of 1.75% convertible senior notes due 2032 includes the full $25.0 million over-allotment option. A concurrent sale of 7,352,942 shares was priced at $17.00 a share. ## Dates **2H 2026** Phase 1 healthy volunteer data for VRDN-008 [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) **Q4 2026** IND submission for the anti-TSHR antibody [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) **Q1 2027** BLA submission for elegrobart in thyroid eye disease [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) **Under review since February 2026** European Medicines Agency review of the veligrotug marketing application [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526205010/d149508dex991.htm) ## The money $981.5 million in cash, cash equivalents and marketable securities at June 30, 2026. Viridian says cash plus expected Lumvoa and elegrobart revenue should fund its plans through profitability. Debt is $250 million of 1.75% convertible notes due 2032. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) No product revenue in Q2 2026 (Lumvoa was approved June 26); total revenue was $284,000 from license and collaboration income. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) ## Risks on the record - Lumvoa competes with Amgen's Tepezza, which had $1.9 billion in 2025 revenue, and Amgen is developing subcutaneous IGF-1R options. [Source](https://medcitynews.com/2026/06/viridian-thyroid-eye-disease-veligrotug-lumvoa-fda-approval-inflammation-vrdn/) - Viridian relies on WuXi Biologics, a Chinese manufacturer, for commercial veligrotug, and the 10-Q says BIOSECURE Act or similar measures could disrupt supply. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000159075026000018/vrdn-20260630.htm) - Hearing impairment is a class risk: 17% of Lumvoa patients versus 6% on placebo in the label data reported by MedCity News. [Source](https://medcitynews.com/2026/06/viridian-thyroid-eye-disease-veligrotug-lumvoa-fda-approval-inflammation-vrdn/) ## Questions investors ask ### What is aibio.space's Investor Rank for Viridian Therapeutics? 9 out of 10, our most positive view. Lumvoa is approved and elegrobart has two positive phase 3 trials, with nearly $1 billion in cash; winning share from Amgen's Tepezza is the test. This is opinion only, not a recommendation to buy, sell or hold, and it does not consider the share price or valuation. [Source](https://aibio.space/disclosures/#rank) ### What is Lumvoa and when was it approved? Lumvoa (veligrotug-vvze) is Viridian's IGF-1R antibody for thyroid eye disease. The FDA approved it on June 26, 2026 for TED regardless of disease activity or duration, and Viridian launched it immediately. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526286273/d164211dex991.htm) ### How does Lumvoa compare with Tepezza? Both block the IGF-1 receptor. Lumvoa is given in five 30 to 45 minute infusions three weeks apart, versus eight 60 to 90 minute infusions for Tepezza, according to MedCity News. [Source](https://medcitynews.com/2026/06/viridian-thyroid-eye-disease-veligrotug-lumvoa-fda-approval-inflammation-vrdn/) ### When will Viridian file for approval of elegrobart? Viridian plans to submit a BLA for subcutaneous elegrobart in the first quarter of 2027. The drug met its primary endpoints in two phase 3 trials, REVEAL-1 in active and REVEAL-2 in chronic TED. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) ### How much cash does Viridian Therapeutics have? Viridian had $981.5 million in cash, cash equivalents and marketable securities at June 30, 2026. It says that cash plus expected product revenue should fund its plans through profitability. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) ### Who is the CEO of Viridian Therapeutics? Steve Mahoney is president and chief executive officer. He was quoted in that role in Viridian's August 6, 2026 second-quarter results. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) ### What is the latest Viridian Therapeutics (VRDN) stock news? Our latest story on Viridian Therapeutics, dated May 11, 2026: "Viridian raises $394 million in convertible notes and stock, repays Hercules loan". The company sold $250 million of 1.75% notes due 2032 and shares at $17.00 ahead of its first approval. It used part of the money to pay off about $55.1 million of term debt. [Source](https://aibio.space/news/viridian-raises-394-million-convertible-notes-stock-repays-hercules/) ### What is Viridian Therapeutics's latest stock offering or financing news? Our latest financing story, dated May 11, 2026: "Viridian raises $394 million in convertible notes and stock, repays Hercules loan". The company sold $250 million of 1.75% notes due 2032 and shares at $17.00 ahead of its first approval. It used part of the money to pay off about $55.1 million of term debt. [Source](https://aibio.space/news/viridian-raises-394-million-convertible-notes-stock-repays-hercules/) ### Who were the underwriters or placement agents on Viridian Therapeutics's offering? From our story: On May 6, 2026, Viridian also agreed in an underwriting agreement with Jefferies LLC, Leerink Partners LLC and Goldman Sachs & Co. LLC, as representatives of the underwriters, to sell 7,352,942 shares of common stock at $17.00 a share. [Source](https://aibio.space/news/viridian-raises-394-million-convertible-notes-stock-repays-hercules/) ### Does Viridian Therapeutics have debt, a term loan or convertible notes? Our latest debt story, dated May 6, 2026: "Viridian completes $250,000,000 convertible notes offering". Viridian's $250,000,000 offering of 1.75% convertible senior notes due 2032 includes the full $25.0 million over-allotment option. A concurrent sale of 7,352,942 shares was priced at $17.00 a share. [Source](https://aibio.space/news/viridian-completes-250-000-000-convertible-notes-offering/) ### What is Viridian Therapeutics's market cap? We do not publish live share prices. In its annual report, Viridian Therapeutics, Inc. put the market value of shares held by non-affiliates (public float) at $943.0 million as of Jun 30, 2025. Source ### Is Viridian Therapeutics a smaller reporting company? SEC records list Viridian Therapeutics, Inc.'s filer category as: Large accelerated filer. Source ### Where is Viridian Therapeutics headquartered? SEC records list its business address as 221 CRESCENT STREET, WALTHAM, MA, 02453. Source ### When does Viridian Therapeutics's fiscal year end? Viridian Therapeutics, Inc.'s fiscal year ends on December 31, per SEC records. Source ### What did Viridian Therapeutics last file with the SEC? Its most recent filing in our record is a 10-Q filed 2026-08-06. All of its filings are on SEC EDGAR. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000159075026000018/vrdn-20260630.htm) ## Legal and investor matters Checked against Viridian Therapeutics filings and press releases. Allegations are allegations; nothing here is a finding of fault. Reviewed Oct 25, 2026. The legal proceedings note of the 10-Q filed 2026-08-06 states the company was not subject to any material legal proceedings during the three months ended 2026-06-30 and, to the best of its knowledge, no material legal proceedings are currently pending or threatened. [Source](https://www.sec.gov/Archives/edgar/data/1590750/000159075026000018/vrdn-20260630.htm) 1. 2026-06-26 Other FDA approves Viridian's Lumvoa for thyroid eye disease Viridian Therapeutics announced on 2026-06-26 that the U.S. Food and Drug Administration approved Lumvoa (veligrotug-vvze) for the treatment of thyroid eye disease, regardless of disease activity or duration. The company said the label includes data for both active and chronic disease and that it planned to launch the product immediately. Viridian reported the approval in a Form 8-K furnished under Items 7.01 and 8.01. [Viridian Form 8-K (Items 7.01, 8.01)](https://www.sec.gov/Archives/edgar/data/1590750/000119312526286273/d164211d8k.htm) 2. 2026-05-27 Financing Viridian repays Hercules term loan with $55.1 million payment On 2026-05-27 Viridian Therapeutics completed a voluntary prepayment of its loan with Hercules Capital, paying about $55.1 million in principal, interest, fees and expenses. The loan agreement was effective 2022-04-01 and allowed borrowings of up to $300 million, of which Viridian borrowed $50 million. The company disclosed the payoff in a Form 8-K under Item 1.02. [Viridian Form 8-K (Item 1.02)](https://www.sec.gov/Archives/edgar/data/1590750/000119312526245186/d111506d8k.htm) 3. 2026-05-11 Financing Viridian closes $250 million convertible notes and $17.00 share offering On 2026-05-11 Viridian Therapeutics completed an offering of $250 million of 1.75% convertible senior notes due 2032, including the full $25.0 million over-allotment option. The same day it closed a public offering of 7,352,942 common shares at $17.00 per share, priced on 2026-05-06, with net proceeds of about $117.0 million. The notes mature on 2032-05-15. [Viridian Form 8-K (Items 1.01, 2.03, 8.01)](https://www.sec.gov/Archives/edgar/data/1590750/000119312526216709/d154062d8k.htm) 4. 2025-10-21 Financing Viridian prices 11,425,000-share offering at $22.00 On 2025-10-21 Viridian Therapeutics entered into an underwriting agreement with Jefferies, Leerink Partners, Evercore and Stifel for 11,425,000 common shares at a public offering price of $22.00 per share. Gross proceeds were about $251.35 million before the underwriters' option and expenses. The offering was made under an automatic shelf registration and was expected to close on 2025-10-23. [Viridian Form 8-K (Item 1.01)](https://www.sec.gov/Archives/edgar/data/1590750/000119312525247410/d27166d8k.htm) 5. 2025-10-17 Financing Viridian sells royalty rights to DRI for up to $300 million On 2025-10-17 Viridian Therapeutics signed a purchase and sale agreement with DRI Healthcare Acquisitions under which DRI bought rights to certain U.S. revenue streams for up to $300 million. Of that, $55 million was paid at signing and $25 million is payable after certain milestones. Viridian will pay DRI tiered royalties on net sales of veligrotug and other products. The same day it signed a second amendment to its Hercules loan agreement. [Viridian Form 8-K (Item 1.01)](https://www.sec.gov/Archives/edgar/data/1590750/000119312525243039/d20179d8k.htm) 6. 2025-07-30 Other Viridian licenses veligrotug and VRDN-003 to Kissei for Japan On 2025-07-30 Viridian Therapeutics and Kissei Pharmaceutical entered into a collaboration and license agreement covering veligrotug and VRDN-003 in Japan. Viridian will receive an upfront payment of $70.0 million and is eligible for up to $315.0 million more on development, regulatory and sales milestones, plus tiered royalties. Kissei will develop and seek approval of the products in Japan. [Viridian Form 8-K (Item 1.01)](https://www.sec.gov/Archives/edgar/data/1590750/000119312525168614/d24708d8k.htm) ## Pipeline | Program | Indication | Stage | |---|---|---| | Lumvoa (veligrotug-vvze) | Thyroid eye disease, active and chronic | FDA approved June 26, 2026; launched [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) | | Elegrobart (VRDN-003), subcutaneous IGF-1R antibody | Thyroid eye disease, active and chronic | Two positive phase 3 trials; BLA planned Q1 2027 [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) | | VRDN-008 (bispecific FcRn inhibitor) | Autoimmune diseases | Phase 1 in healthy volunteers; data 2H 2026 [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) | | VRDN-006 (FcRn inhibitor) | Autoimmune diseases | Phase 1 complete; development plan due 2026 [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) | | Anti-TSHR antibody | Thyroid eye disease and Graves' disease | Preclinical; IND planned Q4 2026 [Source](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744dex991.htm) | ## Stock chart Price chart and quote supplied by TradingView, delayed as the exchange requires. 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[Open NASDAQ:VRDN on TradingView](https://www.tradingview.com/symbols/NASDAQ-VRDN/). ## SEC filings and registration - **SEC name**: Viridian Therapeutics, Inc.\DE - **CIK**: 1590750 - **Industry (SIC)**: Pharmaceutical Preparations (2834) - **US tickers**: VRDN (Nasdaq) - **State or country of incorporation**: DE - **Fiscal year ends**: December 31 - **Filer category**: Large accelerated filer - **Business address**: 221 CRESCENT STREET, WALTHAM, MA, 02453 - **Phone**: 617.272.4600 - **Shares outstanding**: 113,292,269 as of 2026-08-03 (10-Q filed 2026-08-06) - **Former names**: MIRAGEN THERAPEUTICS, INC.; SIGNAL GENETICS, INC.; SIGNAL GENETICS LLC ### Recent filings (8-K and 6-K are the company's own announcements) - [10-Q](https://www.sec.gov/Archives/edgar/data/1590750/000159075026000018/vrdn-20260630.htm) filed 2026-08-06 - [8-K](https://www.sec.gov/Archives/edgar/data/1590750/000119312526336691/d174744d8k.htm) filed 2026-08-06 - [8-K](https://www.sec.gov/Archives/edgar/data/1590750/000119312526286273/d164211d8k.htm) filed 2026-06-29 - [8-K](https://www.sec.gov/Archives/edgar/data/1590750/000119312526254560/d117727d8k.htm) filed 2026-06-03 - [8-K](https://www.sec.gov/Archives/edgar/data/1590750/000119312526245186/d111506d8k.htm) filed 2026-05-28 - [8-K](https://www.sec.gov/Archives/edgar/data/1590750/000119312526239246/d111034d8k.htm) filed 2026-05-26 - [8-K](https://www.sec.gov/Archives/edgar/data/1590750/000119312526216709/d154062d8k.htm) filed 2026-05-11 - [424B5](https://www.sec.gov/Archives/edgar/data/1590750/000119312526214614/d125234d424b5.htm) filed 2026-05-08 Source: [SEC EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001590750), retrieved October 23, 2026. Shares outstanding is the cover-page figure from the latest periodic report. The SEC does not publish share prices. Who manages this page **This page is managed by aibio.space.** The company does not run, edit or pay for this page. News, desk views and Investor Ranks are written and managed independently by aibio.space under our editorial and analytical judgment. Opinion only, not investment advice. [How we work](https://aibio.space/disclosures/#paid) · [Terms](https://aibio.space/terms/#news) · [Request a correction](https://aibio.space/reputation/#update) --- Source page: https://aibio.space/companies/viridian-therapeutics/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Viridian Therapeutics (VRDN) news: offering and convertible notes", 2026-10-31, https://aibio.space/companies/viridian-therapeutics/