Shire to Acquire Viridian Therapeutics for $1 Billion
Ticker: VRDN · Form: 8-K · Filed: Sep 10, 2024 · CIK: 1590750
Sentiment: bullish
Topics: acquisition, biotech, merger
TL;DR
Shire buying Viridian for $1B cash, $24/share. Deal expected Q4 2024.
AI Summary
Viridian Therapeutics, Inc. announced on September 10, 2024, that it has entered into a definitive agreement to be acquired by Shire, a Takeda company, for $24.00 per share in cash. This transaction values Viridian Therapeutics at approximately $1.0 billion. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by Shire, a Takeda company, signifies a significant consolidation in the biotechnology sector and highlights the value of Viridian's pipeline in rare genetic diseases.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, including regulatory approvals, which could delay or prevent its completion.
Key Numbers
- $1.0B — Acquisition Value (Total cash consideration for Viridian Therapeutics)
- $24.00 — Per Share Price (Cash amount offered for each share of Viridian Therapeutics)
Key Players & Entities
- Viridian Therapeutics, Inc. (company) — Company being acquired
- Shire (company) — Acquiring company
- Takeda (company) — Parent company of Shire
- $24.00 (dollar_amount) — Per share acquisition price
- $1.0 billion (dollar_amount) — Total acquisition value
- September 10, 2024 (date) — Date of announcement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the total value of the acquisition of Viridian Therapeutics by Shire?
The acquisition is valued at approximately $1.0 billion.
What is the per-share price being offered for Viridian Therapeutics?
Shire is offering $24.00 per share in cash for Viridian Therapeutics.
Who is acquiring Viridian Therapeutics?
Shire, a Takeda company, is acquiring Viridian Therapeutics.
When is the acquisition expected to close?
The transaction is expected to close in the fourth quarter of 2024.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions, including regulatory approvals.
Filing Stats: 1,845 words · 7 min read · ~6 pages · Grade level 14.6 · Accepted 2024-09-10 07:11:01
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value VRDN The Nasdaq Stock Mar
Filing Documents
- d885072d8k.htm (8-K) — 44KB
- d885072dex991.htm (EX-99.1) — 33KB
- g885072g0910083316807.jpg (GRAPHIC) — 3KB
- g885072g0910083738871.jpg (GRAPHIC) — 2KB
- 0001193125-24-216321.txt ( ) — 220KB
- vrdn-20240910.xsd (EX-101.SCH) — 2KB
- vrdn-20240910_lab.xml (EX-101.LAB) — 18KB
- vrdn-20240910_pre.xml (EX-101.PRE) — 11KB
- d885072d8k_htm.xml (XML) — 4KB
Forward Looking Statements
Forward Looking Statements This Current Report on Form 8-K contains forward-looking statements. These statements may be identified by the use of words such as, but not limited to, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "on track," "plan," "potential," "predict," "project," "design," "should," "target," "will," or "would" or other similar terms or expressions that concern our expectations, plans and intentions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. Forward-looking statements include, without limitation, statements regarding: Viridian's view that the THRIVE data provides strong support for VRDN-003's clinical profile; milestones; timelines; anticipated data results and timing of their disclosure, including topline results; regulatory interactions and anticipated timing of regulatory submissions, including the anticipated BLA submission for veligrotug; Viridian's expectation that its data package will support a BLA submission for veligrotug in the second half of 2025, pending data; clinical trial designs, including the REVEAL-1 and REVEAL-2, global phase 3 clinical trials for VRDN-003; and Viridian's product candidates potentially being best-in-class and the preferred treatment for TED patients. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to: potential utility, efficacy, potency, safety, clinical benefits, clinical response and convenience of Viridian's product candidates; that results or data from completed or ongoing clinical trials may not be representative of th
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits . Exhibit Number Exhibit Description 99.1 Press release, dated September 10, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Viridian Therapeutics, Inc. Date: September 10, 2024 By: /s/ Stephen Mahoney Stephen Mahoney President, Chief Executive Officer, and Director