Viridian Therapeutics Appoints Stephen Mahoney As New Chief Executive Officer, Unveils Next Generation FcRn Inhibitor Programs And Announces $185M Private Placement Financing
Portfolio Pulse from Benzinga Newsdesk
Viridian Therapeutics has appointed Stephen Mahoney as its new CEO and announced a $185M private placement financing. The company also unveiled its next-generation FcRn inhibitor programs for autoimmune diseases. Viridian's pipeline includes IGF-1R inhibitors for thyroid eye disease (TED) and FcRn inhibitors. The company expects to select its lead subcutaneous IGF-1R program by the end of 2023 and topline results from the first THRIVE Phase 3 clinical trial for intravenous VRDN-001 for active TED in mid-2024. The financing will extend the company's operating runway into 2026.
October 30, 2023 | 12:38 pm
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Viridian Therapeutics has appointed a new CEO and announced a $185M private placement financing. The company is also advancing its pipeline with next-generation FcRn inhibitor programs and expects topline results from its Phase 3 clinical trial in mid-2024.
The appointment of a new CEO with a strong track record in the biopharmaceutical industry could boost investor confidence in Viridian. The $185M private placement financing will extend the company's operating runway, providing more time for the development and potential commercialization of its pipeline. The unveiling of the next-generation FcRn inhibitor programs indicates progress in the company's R&D efforts, which could have a positive impact on the stock price.
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