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Viridian Therapeutics

VRDN on Nasdaq. Viridian Therapeutics makes medicines for people with autoimmune and rare diseases. Market value $2.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

Nothing stands out yet.

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-16.2%low

For every $100 of what the whole company costs, it produced $-16.23 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-43.4%five-year median

Each dollar kept in the business earns -43 cents a year. Above 10 is good.

Quality score: 30 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$18.22 a share, 38% above its 1-year low

Over the past year the price has ranged from $13.18 to $34.29.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.1
-0.1
-0.2
-0.2
-0.3
-0.3
2021202220232024202512 monthsto Jun '26
Revenue
$3m$2m$314,000$302,000$71m
Operating margin
-2690.8%-7579.2%-81035.0%-99018.2%-512.9%
Debt to equity
0.000.010.050.03n/a
Shares outstanding
0.04bn0.05bn0.08bn0.10bn0.11bn

Health checks

  • Free cash flow positive0 of 5 years
  • Accounting checksSkipped: company is not yet profitable
  • DebtUnknown
  • Revenue growth, five yearsStrong, 132.2% a year
  • Buying back its own sharesNo, 181% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $284,000 last quarter, up 279% on a year ago.
  • A loss of $127 million, compared with a loss of $101 million a year ago.
  • It loses 570 cents on each $1 of sales, compared with 121831 cents a year earlier.
  • Over the past 12 months it spent $335 million more cash than it brought in, compared with $310 million a year earlier.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$86,000
December 2024$72,000
March 2025$72,000
June 2025$75,000
September 2025$71m
December 2025$132,000
March 2026$141,000
June 2026$284,000
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$77m
December 2024-$80m
March 2025-$87m
June 2025-$101m
September 2025-$35m
December 2025-$120m
March 2026-$105m
June 2026-$127m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
5 November 2026

Who owns it

None of the long-term investors we follow own it. 214 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

10 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $30m of shares on the open market. 1 sold $418,990.

  • Tousignant Jennifer
    Chief Legal Officer
    Sold
    Date
    19 August 2026
    Shares
    14,212
    Price
    $24.50
    Value
    $348,194
  • Fairmount Healthcare Fund II L.P.
    Director
    Bought
    Date
    11 May 2026
    Shares
    1,176,470
    Price
    $17.00
    Value
    $20m
  • Tousignant Jennifer
    Chief Legal Officer
    Sold
    Date
    31 December 2025
    Shares
    2,272
    Price
    $31.16
    Value
    $70,796
  • Fairmount Healthcare Fund II GP LLC
    Director
    Bought
    Date
    23 October 2025
    Shares
    454,545
    Price
    $22.00
    Value
    $10m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.