Viridian Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
04 August 2023 - 10:01PM
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 purchase an aggregate of 140,000 shares of the Company’s
common stock to two new employees (the “Inducement Grants”) on
August 1, 2023 (the “Grant Date”). The Inducement Grants have been
granted outside of the Company’s Amended and Restated 2016 Equity
Incentive Plan (the “Plan”) but remain subject to the terms and
conditions of such Plan. The Inducement Grants were granted as an
inducement material to these individuals entering into employment
with Viridian in accordance with Nasdaq Listing Rule
5635(c)(4).
The Inducement Grants have an exercise price per share that is
equal to the closing price of Viridian’s common stock on the Grant
Date. The Inducement Grants 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 each employee’s
continued employment with Viridian through the applicable vesting
dates.
About Viridian Therapeutics
Viridian Therapeutics 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 its first global Phase 3 trial called ‘THRIVE’ to
evaluate the safety and efficacy of VRDN-001 in patients with
active TED. Viridian is also planning a second Phase 3 trial,
called THRIVE-2, to evaluate the safety and efficacy of VRDN-001 in
patients with chronic TED. In addition to its program for
intravenously administered VRDN-001, the Company is advancing three
candidates for its subcutaneous strategy with the goal of providing
a more conveniently administered therapy to patients with TED.
Viridian is also developing multiple preclinical assets in
autoimmune and rare diseases.
Viridian is based in Waltham, Massachusetts. For more
information, please visit https://www.viridiantherapeutics.com.
Follow Viridian on LinkedIn.
Source: Viridian Therapeutics, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20230804547612/en/
Investors: Todd James, 617-272-4691 Senior Vice President,
Corporate Affairs and Investor Relations
IR@viridiantherapeutics.com
Louisa Stone, 617-272-4604 Manager, Investor Relations
IR@viridiantherapeutics.com
Media: Matt Fearer, 617-272-4605 Vice President, Corporate
Communications Media@viridiantherapeutics.com
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