# Viridian Therapeutics Inc. (VRDN)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $1.64B  
**Price:** $16.14 (+2.35%)

> Viridian Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing best-in-class medicines for patients with autoimmune and rare diseases, particularly thyroid eye disease (TED). The company leverages expertise in antibody discovery and protein engineering to create differentiated therapeutic candidates targeting validated disease mechanisms. Its lead programs include veligrotug, a humanized monoclonal antibody targeting insulin-like growth factor-1 receptor (IGF-1R) administered intravenously, currently in Phase 3 clinical trials (THRIVE and THRIVE-2) for active and chronic TED. Viridian is also advancing elegrobart (formerly VRDN-003), a next-generation subcutaneous IGF-1R antibody with half-life extension technology, in ongoing Phase 3 trials (REVEAL-1 and REVEAL-2) for TED. Additionally, the company develops an anti-thyroid-stimulating hormone receptor (TSHR) program for TED and Graves' disease, along with neonatal Fc receptor (FcRn) inhibitors such as VRDN-006 and VRDN-008 for multiple autoimmune conditions. Headquartered in Waltham, Massachusetts, and founded in 2006, Viridian Therapeutics plays a key role in addressing unmet needs in rare autoimmune therapies through innovative antibody-based treatments.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $71M | — | -$363M | -$343M | — |
| 2024 | $302,000 | — | -$299M | -$270M | — |
| 2023 | $314,000 | — | -$254M | -$238M | — |
| 2022 | $2M | — | -$134M | -$130M | — |
| 2021 | $3M | — | -$80M | -$79M | — |
| 2020 | $1M | — | -$110M | -$111M | — |
| 2019 | $4M | — | -$42M | -$42M | — |
| 2018 | $8M | — | -$33M | -$33M | — |
| 2017 | $4M | — | -$27M | -$27M | — |
| 2016 | $3M | — | -$17M | -$17M | — |
| 2015 | $6M | — | -$11M | -$11M | — |
| 2014 | $6M | — | -$7M | -$8M | — |
| 2013 | $5M | — | -$197,000 | -$2M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $899M | $177M | $722M | $875M | — |
| 2024 | $742M | $71M | $672M | $718M | $21M |
| 2023 | $490M | $48M | $442M | $477M | $20M |
| 2022 | $435M | $40M | $395M | $425M | $5M |
| 2021 | $204M | $16M | $188M | $197M | — |
| 2020 | $131M | $11M | $120M | $128M | — |
| 2019 | $30M | $15M | $16M | $27M | $8M |
| 2018 | $66M | $15M | $51M | $33M | $10M |
| 2017 | $52M | $14M | $39M | $47M | $10M |
| 2016 | $25M | $10M | -$62M | $22M | — |
| 2015 | $13M | — | -$45M | $21M | — |
| 2014 | $8M | — | $6M | $5M | — |
| 2013 | $4M | — | -$24M | $209,000 | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$276M | $495,000 | -$277M |
| 2024 | -$232M | $511,000 | -$233M |
| 2023 | -$184M | $898,000 | -$185M |
| 2022 | -$94M | $797,000 | -$95M |
| 2021 | -$55M | $338,000 | -$55M |
| 2020 | -$30M | $42,000 | -$30M |
| 2019 | -$36M | $84,000 | -$36M |
| 2018 | -$27M | $445,000 | -$27M |
| 2017 | -$28M | $246,000 | -$28M |
| 2016 | -$15M | $250,000 | -$15M |
| 2015 | -$7M | $123,000 | -$7M |
| 2014 | -$2M | $266,000 | -$2M |
| 2013 | -$1M | $5,000 | -$1M |

Source: [CompaniesByCap](https://companiesbycap.com/company/VRDN)