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Sep 30, 2020
Viridian Therapeutics Q3 2020 Earnings Report
Miragen Therapeutics announced financial results for Q3 2020 and provided corporate updates, including the acquisition of Viridian Therapeutics and a private placement financing.
Key Takeaways
Miragen Therapeutics reported a net loss of $5.5 million for the third quarter of 2020. The company completed the acquisition of Viridian Therapeutics and closed a private placement financing, resulting in approximately $144 million in cash on hand and an estimated cash runway through 2023.
Completed acquisition of Viridian Therapeutics, including VRDN-001 for thyroid eye disease (TED) treatment.
Closed private placement financing with proceeds of approximately $91 million.
Pro forma cash on hand of approximately $144 million with estimated cash runway through 2023.
Announced a 1-for-15 reverse stock split effective November 12, 2020.
Forward Guidance
miRagen believes that its current cash and cash equivalents including approximately $91.0 million in gross proceeds from the sale of its Preferred Stock in a private placement and the cash acquired with the Viridian acquisition, will be sufficient to fund its operating expenses and capital expenditure requirements through the end of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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