Viridian Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
WALTHAM, Mass., Nov. 30, 2021 (GLOBE NEWSWIRE) — 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 Company’s Board of Directors approved the grant of stock options to purchase an aggregate of 180,000 shares of the Company’s common stock to two new employees (the “Inducement Grants”) on the date that each employee commences service with the Company (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 new employee’s 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 date of grant, and thereafter the remainder of the shares vest in 36 equal monthly installments, subject to continued employment through the applicable vesting dates.
About Viridian Therapeutics
Viridian Therapeutics is a biotechnology company advancing new treatments for patients suffering from serious diseases but underserved by today’s 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). 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. Patients with severe disease often require multiple remedial surgeries to the orbit, eye muscles and eyelids. Viridian is based in Waltham, Massachusetts.
Viridian Contacts:
Investors:
Dan Ferry
LifeSci Advisors
617-430-7576
IR@viridiantherapeutics.com
Media:
Darby Pearson
Verge Scientific Communications
703-587-0831
PR@viridiantherapeutics.com
