Viridian Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
07 Dezember 2022 - 10:05PM
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 Compensation Committee of the Company’s
Board of Directors approved the grant of non-qualified stock
options to an employee to purchase up to 215,000 shares of the
Company’s common stock (the “Inducement Grant”) on December 1, 2022
(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 Therapeutics is a biotechnology company advancing
new treatments for patients suffering from serious diseases
underserved by current 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). VRDN-002 is a distinct anti-IGF-1R antibody and
incorporates half-life extension technology. VRDN-003 is an
extended half-life version of VRDN-001. Both VRDN-002 and VRDN-003
are designed for administration as convenient, low-volume,
subcutaneous injections. 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. Viridian is based in Waltham, Massachusetts.
Investor and Media Contact:Todd JamesViridian
Therapeutics, Inc.Senior Vice President, Corporate Affairs and
Investor RelationsIR@viridiantherapeutics.com
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