Viridian Therapeutics Inc
VRDNHealthcare|Biotechnology|USA
$19.75
-0.46 (-2.28%)
Tangible Book
$4.92
Financials
Financial Snapshot
Market Cap
$2.18B
Enterprise Value
$579.0M
Revenue (TTM)
$70.9M
Net Income (TTM)
$-360.6M
Cash & Equivalents
—
Net Cash/Share
$5.95
Free Cash Flow (TTM)
$-303.8M
Operating CF (TTM)
$-303.4M
Debt/Equity
0.08
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$75.8M
Monthly Burn
$25.3M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $3.3M | $47.4M | $62.5M | $26.8M | $127.6M | $197.0M | $424.6M | $477.4M | $717.6M | $874.7M | $762.2M | |
| Operating Cash Flow | $-7.2M | $-28.2M | $-26.8M | $-36.1M | $-29.8M | $-54.6M | $-93.8M | $-184.2M | $-232.3M | $-276.4M | $-303.4M | |
| Free Cash Flow | $-7.2M | $-28.4M | $-27.3M | $-36.1M | $-29.8M | $-54.9M | $-94.6M | $-185.1M | $-232.8M | $-276.9M | $-303.8M | |
| Capital Expenditure | $-3.0K | $-246.0K | $-445.0K | $-84.0K | $-42.0K | $-338.0K | $-797.0K | $-898.0K | $-511.0K | $-495.0K | $-432.0K | |
| Financing Cash Flow | $-257.0K | $52.5M | $41.9M | $70.0K | $101.3M | $125.3M | $322.2M | $225.7M | $457.7M | $426.7M | $423.9M |
R&D Spending
R&D (TTM)
$339.7M
R&D Intensity
479.0%
R&D Growth YoY
+0.2%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.3M | $4.0M | $8.4M | $4.5M | $1.1M | $3.0M | $1.8M | $314.0K | $302.0K | $70.8M | $70.9M | |
| R&D Expense | $888.0K | $19.6M | $30.4M | $34.8M | $28.3M | $56.9M | $100.9M | $159.8M | $238.3M | $338.9M | $339.7M | |
| R&D % of Revenue | 26.6% | 490.2% | 362.8% | 780.0% | 2695.6% | 1919.9% | 5693.8% | 50880.6% | 78892.1% | 478.4% | 479.0% | |
| SG&A | $9.6M | $10.9M | $11.0M | $11.6M | $13.3M | $25.8M | $35.2M | $95.0M | $61.1M | $95.3M | $116.9M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.3M | $4.0M | $8.4M | $4.5M | $1.1M | $3.0M | $1.8M | $314.0K | $302.0K | $70.8M | $70.9M | |
| Cost of Goods Sold | $2.5M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $789.0K | $4.0M | $8.4M | $4.5M | $1.1M | $3.0M | $1.8M | $314.0K | $302.0K | $70.8M | $70.9M | |
| R&D | $888.0K | $19.6M | $30.4M | $34.8M | $28.3M | $56.9M | $100.9M | $159.8M | $238.3M | $338.9M | $339.7M | |
| SG&A | $9.6M | $10.9M | $11.0M | $11.6M | $13.3M | $25.8M | $35.2M | $95.0M | $61.1M | $95.3M | $116.9M | |
| Operating Income | $-9.7M | $-26.5M | $-33.1M | $-42.0M | $-40.5M | $-79.7M | $-134.3M | $-254.4M | $-299.0M | $-363.4M | $-385.7M | |
| Interest Expense | $-95.0K | $-383.0K | $-873.0K | $-835.0K | $-508.0K | $-3.0K | $-486.0K | $-1.3M | $-2.2M | $-4.9M | $-7.8M | |
| Pretax Income | $-12.7M | $-26.5M | $-32.7M | $-41.9M | $-110.7M | $-79.4M | $-129.9M | $-237.7M | $-269.9M | $-342.6M | $-360.6M | |
| Net Income | $-12.7M | $-26.5M | $-32.7M | $-41.9M | $-110.7M | $-79.4M | $-129.9M | $-237.7M | $-269.9M | $-342.6M | $-360.6M | |
| EPS (Diluted) | -263.70 | -20.70 | -16.50 | -20.04 | -31.13 | -6.66 | -2.71 | -3.91 | -3.07 | -3.32 | -3.32 | |
| EBITDA | $-12.4M | $-25.8M | $-31.5M | $-40.8M | $-110.0M | $-79.3M | $-129.1M | $-235.9M | $-267.2M | $-337.2M | $-352.3M | |
| Shares Out. (M) | 0.05 | 1.28 | 1.97 | 2.09 | 3.56 | 11.92 | 32.09 | 44.76 | 67.89 | 84.80 | 102.21 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.3M | $47.4M | $32.6M | $24.8M | $45.9M | $42.3M | $155.6M | $102.8M | $99.6M | $212.4M | $176.3M | |
| Marketable Securities | $0.00 | $0.00 | $29.9M | $2.0M | $81.7M | $154.7M | $269.0M | $374.5M | $618.0M | $662.3M | $585.8M | |
| Total Current Assets | $4.3M | $51.9M | $65.4M | $29.7M | $129.6M | $200.2M | $431.2M | $486.5M | $738.5M | $894.2M | $784.7M | |
| Total Assets | $4.3M | $52.5M | $66.1M | $30.3M | $131.3M | $203.7M | $435.1M | $490.4M | $742.4M | $899.4M | $789.0M | |
| Total Current Liabilities | $4.6M | $3.9M | $6.7M | $10.2M | $10.7M | $13.6M | $33.3M | $26.6M | $47.9M | $70.7M | $51.8M | |
| Long-Term Debt | $0.00 | $9.9M | $8.0M | $4.3M | $0.00 | $0.00 | $4.6M | $20.2M | $20.6M | $49.9M | $50.4M | |
| Total Liabilities | $4.6M | $14.0M | $14.8M | $14.5M | $11.2M | $16.0M | $40.0M | $48.4M | $70.8M | $177.3M | $153.0M | |
| Stockholders' Equity | $-326.0K | $38.5M | $51.3M | $15.8M | $120.0M | $187.7M | $395.1M | $442.0M | $671.6M | $722.2M | $636.0M | |
| Retained Earnings | $-30.6M | $-93.6M | $-126.3M | $-168.2M | $-278.9M | $-358.3M | $-488.2M | $-725.9M | $-995.9M | $-1.34B | $-1.44B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-7.2M | $-28.2M | $-26.8M | $-36.1M | $-29.8M | $-54.6M | $-93.8M | $-184.2M | $-232.3M | $-276.4M | $-303.4M | |
| Capital Expenditure | $-3.0K | $-246.0K | $-445.0K | $-84.0K | $-42.0K | $-338.0K | $-797.0K | $-898.0K | $-511.0K | $-495.0K | $-432.0K | |
| Free Cash Flow | $-7.2M | $-28.4M | $-27.3M | $-36.1M | $-29.8M | $-54.9M | $-94.6M | $-185.1M | $-232.8M | $-276.9M | $-303.8M | |
| Investing Cash Flow | $-3.0K | $1.0M | $-29.9M | $28.2M | $-50.5M | $-74.3M | $-115.1M | $-94.3M | $-228.7M | $-37.6M | $-60.4M | |
| Financing Cash Flow | $-257.0K | $52.5M | $41.9M | $70.0K | $101.3M | $125.3M | $322.2M | $225.7M | $457.7M | $426.7M | $423.9M | |
| Issuance of Stock | $0.00 | $48.6M | $44.5M | $2.5M | $25.1M | $114.2M | $291.9M | $125.1M | $453.7M | $352.2M | $347.3M | |
| Repurchase of Stock | $-173.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $10.0M | $0.00 | $0.00 | $1.7M | $0.00 | $5.0M | $15.0M | $0.00 | $28.9M | $0.00 | |
| Payments of Debt | $-84.0K | $-4.7M | $0.00 | $-2.3M | $-10.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.1M | $2.4M | $3.7M | $4.0M | $3.6M | $14.5M | $19.8M | $67.2M | $42.1M | $44.3M | $47.5M | |
| Net Change in Cash | $-7.5M | $25.3M | $-14.8M | $-7.8M | $21.1M | $-3.6M | $113.3M | $-52.8M | $-3.2M | $112.8M | $60.1M |
Dilution Tracker
Shares outstanding grew 757.6% over 5 years — significant dilution
Shares Outstanding
102M
5-Year Share Growth
+757.6%
Stock Issuance (TTM)
$347.3M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.05 | 1.28 | 1.97 | 2.09 | 3.56 | 11.92 | 32.09 | 44.76 | 67.89 | 84.80 | 102.21 | |
| YoY Change % | — | 2572.9% | 53.8% | 5.9% | 70.3% | 235.1% | 169.2% | 39.5% | 51.7% | 24.9% | 20.5% | |
| Stock Issuance | $0.00 | $48.6M | $44.5M | $2.5M | $25.1M | $114.2M | $291.9M | $125.1M | $453.7M | $352.2M | $347.3M | |
| Stock Repurchase | $-173.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.1M | $2.4M | $3.7M | $4.0M | $3.6M | $14.5M | $19.8M | $67.2M | $42.1M | $44.3M | $47.5M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 23.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | -289.9% | -662.8% | -394.5% | -941.0% | -3859.0% | -2690.8% | -7579.2% | -81035.0% | -99018.2% | -512.9% | -543.9% | |
| Net Margin % | -379.8% | -662.3% | -390.0% | -938.6% | -10544.3% | -2680.2% | -7329.2% | -75711.5% | -89387.1% | -483.6% | -508.5% | |
| EBITDA Margin % | -371.3% | -645.0% | -376.2% | -913.5% | -10473.1% | -2676.0% | -7287.4% | -75121.3% | -88480.8% | -475.9% | -496.8% | |
| FCF Margin % | -216.8% | -709.8% | -325.4% | -810.1% | -2840.1% | -1853.5% | -5340.6% | -58938.9% | -77096.0% | -390.8% | -428.4% | |
| ROE % | -251.4% | -138.9% | -72.8% | -124.8% | -163.1% | -51.6% | -44.6% | -56.8% | -48.5% | -49.2% | -60.5% | |
| ROA % | -147.7% | -93.5% | -55.1% | -86.9% | -137.1% | -47.4% | -40.7% | -51.4% | -43.8% | -41.7% | -51.4% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.41
P/S22.80
Historical0.76 / 35.07 / 6302.50
Industry Med.9.51
P/B4.01
Historical0.53 / 3.32 / 17.82
Industry Med.2.93
EV/EBITDA-4.55
Historical-12.98 / -2.83 / 0.28
Industry Med.13.14
EV/Revenue22.58
Historical-2.54 / 49.59 / 4243.39
Industry Med.8.71
P/FCF—
Historical— / — / —
Industry Med.27.54
Intrinsic Value Models
Tangible Book
$4.92
Net Current Assets
$4.880
Median P/S Value
$29.36
Net-Net Working Capital
$4.66
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 1.08 | 50.14 | 10.69 | 3.37 | 55.76 | 79.40 | 531.09 | 3111.43 | 4792.50 | 37.27 | 22.80 | |
| PB Ratio | 0.00 | 6.11 | 1.82 | 1.06 | 0.00 | 8.78 | 4.77 | 4.99 | 3.22 | 5.37 | 4.01 | |
| EV/EBITDA | -0.11 | -7.67 | -1.31 | 0.04 | -1.12 | -5.18 | -7.20 | -3.93 | -3.91 | -7.35 | -4.55 | |
| EV/Revenue | 0.42 | 49.45 | 4.92 | -0.41 | 117.35 | 138.50 | 524.49 | 2949.07 | 3460.43 | 34.96 | 22.58 |
Analyst Estimates & Quality
Altman Z-Score
5.72
Safe
Piotroski F-Score
2
Weak
Beneish M-Score
205.93
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $27.67M | $231.54M | $596.79M |
| Net Income | $-438.44M | $-301.29M | $21.73M |
| EPS | -3.85 | -2.43 | -0.20 |
| Book Value per Share | 5.91 | 3.24 | 2.58 |
| Operating Cash Flow per Share | -3.44 | -2.70 | -1.11 |
| Operating CF | $-351.61M | $-275.97M | $-113.46M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Discovering, developing and commercializing potential best-in-class medicines for serious and rare | $70.0M |
| Collaboration revenue - related parties | $849.0K |
By Geography
| Segment | 2025 |
|---|---|
| United States | $70.8M |