Viridian Slides 8.6% After $251 Mln Public Share Offering

(RTTNews) - Viridian Therapeutics, Inc. (VRDN) fell 8.56% to trade at $21.97, down $2.06, after announcing a public offering of 11,425,000 shares priced at $22.00 per share, with gross proceeds expected to be approximately $251.35 million.

The company granted underwriters a 30-day option to purchase an additional 1,713,750 shares at the same price. Viridian intends to use the proceeds to fund its commercial launch activities for veligrotug and VRDN-003, support R&D efforts, and for general corporate purposes.

On Wednesday, VRDN opened at $22.45, hit a high of $22.90, and a low of $21.50, compared to a previous close of $24.03 on the NASDAQ. Trading volume surged above average levels. The stock's 52-week range is $19.00 - $38.75.