Viridian Therapeutics, Inc.\DE
VRDN · Pharmaceutical Preparations · 103.1M shares · +83%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$67M (gross $2K, SBC $67M)
Reference price $17.00 · est. market cap ~$1.8B — last insider purchase, 2026-05-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — thyroid-eye-disease clinical, heavy burn ($277M), very well-funded.
Strengths
- Liquidity — current ratio 12.7 (85th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Cash burnNegative free cash flow (-276.9M)
- Chronic dilutionShare count +83%/yr over 2y (dilution, book value/share -30%)
- Strong balance sheetStrong balance sheet — $875M cash & investments, ~13 quarters of runway
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$20M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 9→10 QoQ (2025-12-31→2026-03-31)
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-47.4%
Return on assets
-38.1%
Revenue growth (QoQ)
301.3%
Current ratio
12.6×
Free cash flow
-$277M
EBITDA
-$363M
Tangible book value
$722M
Cash & investments
$875M
Cash runway
13q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-11 | Fairmount Funds Management LLC | Buy | 1.2M | $17.00 |
| 2026-03-03 | Harmon Seth | Tax withheld | 2.0K | $30.19 |
| 2026-03-03 | Beetham Thomas W. | Tax withheld | 3.0K | $30.19 |
| 2026-03-03 | Tousignant Jennifer | Tax withheld | 1.7K | $30.19 |
| 2026-03-03 | Mahoney Stephen F. | Tax withheld | 7.4K | $30.19 |
| 2026-03-03 | Tousignant Jennifer | Option exercise | 5.2K | — |
| 2026-03-03 | Tousignant Jennifer | Tax withheld | 1.7K | $29.32 |
| 2026-03-03 | Harmon Seth | Option exercise | 6.3K | — |
| 2026-03-03 | Beetham Thomas W. | Option exercise | 9.4K | — |
| 2026-03-03 | Beetham Thomas W. | Tax withheld | 3.1K | $29.32 |
| 2026-03-03 | Mahoney Stephen F. | Option exercise | 18K | — |
| 2026-03-03 | Mahoney Stephen F. | Tax withheld | 7.6K | $29.32 |
| 2026-03-03 | Harmon Seth | Tax withheld | 2.1K | $29.32 |
| 2025-12-31 | Tousignant Jennifer | Sell | 2.3K | $31.16 |
| 2025-10-23 | Fairmount Funds Management LLC | Buy | 455K | $22.00 |
| 2025-06-10 | Fairmount Funds Management LLC | Option exercise | 12K | $12.31 |
| 2025-06-09 | Fairmount Funds Management LLC | Option exercise | 1.6K | $7.80 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-03 | 2026-06-02 | 0001193125-26-254560 ↗ |
| 8-K | 2026-05-28 | 2026-05-27 | 0001193125-26-245186 ↗ |
| 8-K | 2026-05-26 | 2026-05-24 | 0001193125-26-239246 ↗ |
| 8-K | 2026-05-11 | 2026-05-06 | 0001193125-26-216709 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001193125-26-205099 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001590750-26-000012 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001193125-26-205010 ↗ |
| 8-K | 2026-03-30 | 2026-03-30 | 0001193125-26-130433 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001193125-26-073391 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001590750-26-000007 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001590750-25-000020 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-265711 ↗ |