
A small buyout deal gives a penny-stock biotech a boost and a second chance
Just over a month after former miRagen Therapeutics COO Lee Rauch stepped up to take the helm, the microcap is scooping up Viridian Therapeutics — and with it, a new lead candidate and $91 million boost.
miRagen’s workforce was cut in half by a costly restructuring plan initiated last August, with 44 positions eliminated. Discovery research was sidelined, while the microRNA-focused biotech focused on the four programs it had. About a year later, CEO William Marshall resigned, leaving Rauch to pick up the pieces.
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