August 17 Quick Takes: Viridian raises $270M in upsized follow-on

Viridian Therapeutics Inc. (NASDAQ:VRDN) raised $270 million through the sale of common and preferred stock in an upsized follow-on. The biotech sold 9.6 million shares at $23.50 to raise $226.2 million, and raised the balance through the sale of series B preferred shares at effectively the same price, once converted to common stock. The price was a 7% premium to Viridian’s close at $22 on Monday, when it proposed after hours to raise $175 million. On Monday, Viridian announced early data and mapped out a Phase III plan for its lead program in thyroid eye disease. Jefferies, SVB Securities, Evercore ISI and LifeSci Capital are underwriters. Viridian shed $2.72 (11%) to $22.78 on Wednesday.

CSL Ltd. (ASX:CSL) said it’s on track to seek approval of garadacimab (CSL312) by June after the mAb inhibiting Factor XIIa met the primary and secondary endpoints in the Phase III VANGUARD trial to prevent hereditary angioedema (HAE). The trial tested a monthly subcutaneous injection of the therapy, which the company said is first in class...