Pos­i­tive read­out? Pub­lic of­fer­ing: Virid­i­an plans to raise $175M on eye dis­ease ther­a­py da­ta

A year and a half af­ter re­brand­ing, Virid­i­an Ther­a­peu­tics ap­pears to have found a path for­ward.

On Mon­day, the Waltham, MA-based biotech re­port­ed ini­tial da­ta from its Phase I/II tri­al of thy­roid eye dis­ease (TED) — and the re­sults, while on­ly in one of three treat­ment arms, look promis­ing thus far. Lat­er in the day, Virid­i­an fol­lowed up with a pub­lic of­fer­ing of $175 mil­lion in both com­mon and pre­ferred stock.

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