VRDN

MKT CAP:$1B

Viridian Therapeutics, Inc.

Market Cap

$1B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$14.23-$16.45 (-53.62%)

Apr 23, 2026

Company Details

Viridian Therapeutics, Inc., a biotechnology company, develops treatments for patients suffering from serious diseases. It develops VRDN-001, a humanized monoclonal anti-IGF-1R antibody that is in Phase 1/2 clinical trial for the treatment ...

CEO

Stephen F. Mahoney

IPO Date

Jun 18, 2014

Website

www.viridiantherapeutics.com

Key Metrics TTM

Revenue

$71M

+23359.9% YoY

Net Income

-$343M

EPS (Diluted)

-$3.32

Free Cash Flow

-$277M

Revenue / Share

$0.84

Gross Margin

99.5%

Operating Margin

-512.9%

Net Margin

-483.6%

FCF Margin

-390.8%

P/S

16.4x

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 26, 2026

$71M+23359.9%EPS -$3.32

Q4 2025

Feb 26, 2026

$132.0K+83.3%EPS -$1.11

Q3 2025

Nov 5, 2025

$71M+81958.1%EPS -$0.34

Q2 2025

Aug 6, 2025

$75.0K+4.2%EPS -$1.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$216.0K	-$18M	-$26M
Q2 22	$256.0K	-$21M	-$30M
Q3 22	$1M	-$21M	-$30M
Q4 22	$105.0K	-$39M	-$49M
Q1 23	$98.0K	$98.0K	-$72M
Q2 23	$72.0K	$72.0K	-$59M
Q3 23	$72.0K	$72.0K	-$51M
Q4 23	$72.0K	$72.0K	-$71M
Q1 24	$72.0K	$72.0K	-$56M
Q2 24	$72.0K	$72.0K	-$72M
Q3 24	$86.0K	$86.0K	-$83M
Q4 24	$72.0K	$72.0K	-$87M
Q1 25	$72.0K	$72.0K	-$94M
Q2 25	$75.0K	$75.0K	-$107M
Q3 25	$71M	$71M	-$40M
Q4 25	$132.0K	-$188.0K	-$123M

Valuation

Quarter	P/S	P/E
Q1 22	672.1x	—
Q2 22	1299.1x	—
Q3 22	617.4x	—
Q4 22	655.4x	—
Q1 23	702.2x	—
Q2 23	790.0x	—
Q3 23	3346.9x	—
Q4 23	3698.6x	—
Q1 24	4032.5x	—
Q2 24	4032.5x	—
Q3 24	3845.6x	—
Q4 24	3845.6x	—
Q1 25	3845.6x	—
Q2 25	3807.7x	—
Q3 25	16.4x	—
Q4 25	16.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$21M	-$21M
Q2 22	-$18M	-$18M
Q3 22	-$21M	-$21M
Q4 22	-$34M	-$34M
Q1 23	-$62M	-$62M
Q2 23	-$45M	-$46M
Q3 23	-$39M	-$39M
Q4 23	-$38M	-$38M
Q1 24	-$45M	-$45M
Q2 24	-$46M	-$46M
Q3 24	-$68M	-$68M
Q4 24	-$73M	-$73M
Q1 25	-$93M	-$93M
Q2 25	-$75M	-$75M
Q3 25	-$85M	-$85M
Q4 25	-$24M	-$24M

Capital Expenditures

Quarter	CapEx
Q1 22	$179.0K
Q2 22	$292.0K
Q3 22	$95.0K
Q4 22	$231.0K
Q1 23	$115.0K
Q2 23	$331.0K
Q3 23	$404.0K
Q4 23	$48.0K
Q1 24	$0
Q2 24	$104.0K
Q3 24	$293.0K
Q4 24	$114.0K
Q1 25	$86.0K
Q2 25	$42.0K
Q3 25	$127.0K
Q4 25	$240.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-85.1%	+30.7%
Q2 22	-76.5%	+56.2%
Q3 22	+474.5%	+116.0%
Q4 22	-50.9%	+67.8%
Q1 23	-54.6%	+178.0%
Q2 23	-71.9%	+99.0%
Q3 23	-94.0%	+65.6%
Q4 23	-31.4%	+45.5%
Q1 24	-26.5%	-22.9%
Q2 24	+0.0%	+21.8%
Q3 24	+19.4%	+62.9%
Q4 24	+0.0%	+22.4%
Q1 25	+0.0%	+67.8%
Q2 25	+4.2%	+47.9%
Q3 25	+81958.1%	+32.3%
Q4 25	+83.3%	+40.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$5M	413.6%
Q4 22	$5M	5026.7%
Q1 23	$15M	15526.5%
Q2 23	$12M	17086.1%
Q3 23	$14M	18897.2%
Q4 23	$26M	36177.8%
Q1 24	$13M	17622.2%
Q2 24	$12M	16343.1%
Q3 24	$9M	10139.5%
Q4 24	$9M	12465.3%
Q1 25	$10M	14194.4%
Q2 25	$11M	14458.7%
Q3 25	$11M	15.9%
Q4 25	$12M	9082.6%

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$18M	$8M
Q2 22	$22M	$8M
Q3 22	$22M	$9M
Q4 22	$39M	$10M
Q1 23	$51M	$22M
Q2 23	$40M	$19M
Q3 23	$30M	$21M
Q4 23	$39M	$33M
Q1 24	$41M	$15M
Q2 24	$56M	$16M
Q3 24	$69M	$14M
Q4 24	$72M	$16M
Q1 25	$77M	$17M
Q2 25	$87M	$20M
Q3 25	$86M	$24M
Q4 25	$89M	$34M

Revenue Segments

Quarter	Collaboration Revenue	Collaboration	License
Q3 22	$1M	—	—
Q4 22	$100.0K	—	—
Q1 23	$100.0K	—	—
Q3 25	—	$570.0K	$70M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$31M	$145M	$175M
Q2 22	$31M	$130M	$161M
Q3 22	$344M	$87M	$431M
Q4 22	$156M	$269M	$425M
Q1 23	$89M	$285M	$374M
Q2 23	$87M	$247M	$334M
Q3 23	$112M	$201M	$313M
Q4 23	$103M	$375M	$477M
Q1 24	$92M	$522M	$613M
Q2 24	$108M	$464M	$571M
Q3 24	$200M	$553M	$753M
Q4 24	$100M	$618M	$718M
Q1 25	$116M	$520M	$637M
Q2 25	$117M	$446M	$563M
Q3 25	$170M	$321M	$491M
Q4 25	$212M	$662M	$875M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	26M	+133.6%	+312.3%
Q2 22	28M	+6.3%	+242.5%
Q3 22	34M	+21.5%	+201.7%
Q4 22	41M	+20.2%	+262.5%
Q1 23	42M	+4.2%	+61.7%
Q2 23	43M	+2.4%	+55.8%
Q3 23	44M	+0.9%	+29.4%
Q4 23	50M	+13.8%	+22.5%
Q1 24	61M	+23.0%	+44.6%
Q2 24	64M	+4.5%	+47.6%
Q3 24	66M	+4.0%	+52.1%
Q4 24	80M	+20.5%	+61.1%
Q1 25	81M	+1.6%	+33.1%
Q2 25	82M	+0.3%	+27.8%
Q3 25	82M	+0.2%	+23.1%
Q4 25	85M	+3.7%	+5.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$4.3K	50
Q2 22	$5.1K	50
Q3 22	$23.9K	50
Q4 22	$1.2K	86
Q1 23	$1.1K	86
Q2 23	$837	86
Q3 23	$837	86
Q4 23	$766	94
Q1 24	$766	94
Q2 24	$766	94
Q3 24	$915	94
Q4 24	$503	143
Q1 25	$503	143
Q2 25	$524	143
Q3 25	$493.5K	143
Q4 25	$524	252

Revenue / Employee