Viridian Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
July 14 2021 - 7:00AM
Viridian Therapeutics, Inc. (Nasdaq: VRDN) (“the “Company” or
“Viridian”), a biopharmaceutical 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 an option to purchase 180,000 shares of the
Company’s common stock to a new employee (the “Inducement Grant”).
The Inducement Grant has been granted outside of the Company’s
Amended and Restated 2016 Equity Incentive Plan (the “Plan”) but
remains subject to the terms and conditions of such Plan. The
Inducement Grant was granted as an inducement material to such
individual’s entering into employment with Viridian in accordance
with Nasdaq Listing Rule 5635(c)(4).
The Inducement Grant has an exercise price of $17.20, which is
equal to the closing price of Viridian’s common stock on July 6,
2021, the date of grant of the award. The Inducement Grant 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 an anti-IGF-1R monoclonal antibody in development for
TED, a debilitating auto-immune 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 Boulder, Colorado, and
Waltham, Massachusetts. Learn more about Viridian and its programs
at https://www.viridiantherapeutics.com/.
Follow us on Twitter @ViridianThera and on LinkedIn.
Viridian
Contacts:Investors:Dan FerryLifeSci
Advisors617-430-7576IR@viridiantherapeutics.com
Media:Darby PearsonVerge Scientific
Communications703-587-0831PR@viridiantherapeutics.com
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