2024 Q1 Form 10-K Financial Statement

#000159075024000007 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $72.00K $72.00K $314.0K
YoY Change -26.53% -31.43% -82.28%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.03M $32.99M $95.00M
YoY Change -31.18% 234.82% 170.02%
% of Gross Profit
Research & Development $40.94M $38.56M $159.8M
YoY Change -19.31% -1.93% 58.35%
% of Gross Profit
Depreciation & Amortization $145.0K $150.0K $500.0K
YoY Change 38.1% 56.25% 66.67%
% of Gross Profit
Operating Expenses $55.97M $71.55M $254.8M
YoY Change -22.88% 45.51% 87.22%
Operating Profit -$55.90M -$254.5M
YoY Change -22.87% 89.46%
Interest Expense $7.355M $4.618M $16.72M
YoY Change 3577.5% 40.75% 3243.2%
% of Operating Profit
Other Income/Expense, Net $7.355M $16.72M
YoY Change 70.18% 277.34%
Pretax Income -$48.54M -$66.86M -$237.7M
YoY Change -28.77% 46.03% 83.05%
Income Tax
% Of Pretax Income
Net Earnings -$48.54M -$66.86M -$237.7M
YoY Change -28.77% 46.03% 83.05%
Net Earnings / Revenue -67419.44% -92861.11% -75711.46%
Basic Earnings Per Share -$0.79 -$5.31
Diluted Earnings Per Share -$0.79 -$1.34 -$5.31
COMMON SHARES
Basic Shares Outstanding 62.77M shares 52.59M shares 44.76M shares
Diluted Shares Outstanding 61.10M shares 44.76M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $613.2M $477.4M $477.4M
YoY Change 64.02% 12.44% 12.44%
Cash & Equivalents $91.64M $102.8M $102.8M
Short-Term Investments $521.5M $374.5M $374.5M
Other Short-Term Assets $13.53M $9.006M $9.006M
YoY Change 57.02% 38.11% 38.11%
Inventory
Prepaid Expenses
Receivables $102.0K $102.0K $102.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $626.8M $486.5M $486.5M
YoY Change 63.83% 12.83% 12.83%
LONG-TERM ASSETS
Property, Plant & Equipment $1.526M $1.672M $3.342M
YoY Change -4.03% 26.09% 13.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $555.0K $604.0K $604.0K
YoY Change -43.48% -38.49% -38.49%
Total Long-Term Assets $3.563M $3.946M $3.946M
YoY Change -11.81% 0.71% 0.71%
TOTAL ASSETS
Total Short-Term Assets $626.8M $486.5M $486.5M
Total Long-Term Assets $3.563M $3.946M $3.946M
Total Assets $630.4M $490.4M $490.4M
YoY Change 63.04% 12.72% 12.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.676M $2.239M $2.239M
YoY Change -66.01% -84.27% -84.27%
Accrued Expenses $23.16M $24.11M $24.11M
YoY Change 8.1% 28.05% 28.05%
Deferred Revenue $288.0K $288.0K
YoY Change 0.0% 0.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $26.13M $26.64M $26.64M
YoY Change -11.7% -20.13% -20.13%
LONG-TERM LIABILITIES
Long-Term Debt $20.33M $20.21M $20.21M
YoY Change 334.64% 334.98% 334.98%
Other Long-Term Liabilities $896.0K $989.0K $1.562M
YoY Change -13.76% -15.61% -23.17%
Total Long-Term Liabilities $896.0K $989.0K $21.77M
YoY Change -13.76% -15.61% 225.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.13M $26.64M $26.64M
Total Long-Term Liabilities $896.0K $989.0K $21.77M
Total Liabilities $47.85M $48.40M $48.40M
YoY Change 32.58% 20.92% 20.92%
SHAREHOLDERS EQUITY
Retained Earnings -$774.5M -$725.9M
YoY Change 39.22% 48.69%
Common Stock $638.0K $540.0K
YoY Change 48.03% 30.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $582.5M $442.0M $442.0M
YoY Change
Total Liabilities & Shareholders Equity $630.4M $490.4M $490.4M
YoY Change 63.04% 12.72% 12.72%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$48.54M -$66.86M -$237.7M
YoY Change -28.77% 46.03% 83.05%
Depreciation, Depletion And Amortization $145.0K $150.0K $500.0K
YoY Change 38.1% 56.25% 66.67%
Cash From Operating Activities -$45.22M -$38.00M -$184.2M
YoY Change -27.03% 11.63% 96.26%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $48.00K $898.0K
YoY Change -100.0% -79.22% 12.67%
Acquisitions
YoY Change
Other Investing Activities -$143.0M -$169.7M -$93.35M
YoY Change 985.32% -5.94% -18.35%
Cash From Investing Activities -$143.0M -$169.7M -$94.25M
YoY Change 975.93% -6.03% -18.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $125.1M
YoY Change -57.15%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $177.1M 198.9M $225.7M
YoY Change 2058.48% 664.75% -29.97%
NET CHANGE
Cash From Operating Activities -$45.22M -38.00M -$184.2M
Cash From Investing Activities -$143.0M -169.7M -$94.25M
Cash From Financing Activities $177.1M 198.9M $225.7M
Net Change In Cash -$11.19M -8.770M -$52.75M
YoY Change -83.32% -95.35% -146.57%
FREE CASH FLOW
Cash From Operating Activities -$45.22M -$38.00M -$184.2M
Capital Expenditures $0.00 $48.00K $898.0K
Free Cash Flow -$45.22M -$38.05M -$185.1M
YoY Change -27.16% 11.01% 95.56%

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-965000 usd
CY2023 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
CY2022 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
CY2021 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
4000 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-181000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023 vrdn Debt Extinguishment Expense
DebtExtinguishmentExpense
514000 usd
CY2022 vrdn Debt Extinguishment Expense
DebtExtinguishmentExpense
0 usd
CY2021 vrdn Debt Extinguishment Expense
DebtExtinguishmentExpense
0 usd
CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1000 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-77000 usd
CY2023 vrdn Non Cash Lease Expense
NonCashLeaseExpense
48000 usd
CY2022 vrdn Non Cash Lease Expense
NonCashLeaseExpense
36000 usd
CY2021 vrdn Non Cash Lease Expense
NonCashLeaseExpense
-102000 usd
CY2023 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-31000 usd
CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 usd
CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2107000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3339000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1496000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-12040000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
11524000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1655000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5010000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
7716000 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1380000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
0 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-349000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
451000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-288000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-288000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
636000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-184170000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-93838000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-54581000 usd
CY2023 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
407880000 usd
CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
223264000 usd
CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
188431000 usd
CY2023 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
314526000 usd
CY2022 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
108935000 usd
CY2021 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
114398000 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
79000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
898000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
797000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
338000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-94252000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-115126000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-74292000 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
125069000 usd
CY2023 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
76192000 usd
CY2022 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 usd
CY2021 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
291874000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
114242000 usd
CY2023 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
0 usd
CY2022 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
44000000 usd
CY2021 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
16960000 usd
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1881000 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
935000 usd
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1285000 usd
CY2023 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
15000000 usd
CY2022 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
5000000 usd
CY2021 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 usd
CY2023 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
514000 usd
CY2022 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 usd
CY2021 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 usd
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
446000 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2762000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1027000 usd
CY2023 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
580000 usd
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
183000 usd
CY2021 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
39000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
225670000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
322244000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
125275000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-52752000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
113280000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3598000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155579000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42299000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45897000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102827000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155579000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
886000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
293000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
380000 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4000 usd
CY2023 vrdn Stock Issuance Costs Included In Accrued Liabilities
StockIssuanceCostsIncludedInAccruedLiabilities
41000 usd
CY2022 vrdn Stock Issuance Costs Included In Accrued Liabilities
StockIssuanceCostsIncludedInAccruedLiabilities
0 usd
CY2021 vrdn Stock Issuance Costs Included In Accrued Liabilities
StockIssuanceCostsIncludedInAccruedLiabilities
0 usd
CY2023 vrdn Stock Issuance Costs Included In Accounts Payable
StockIssuanceCostsIncludedInAccountsPayable
45000 usd
CY2022 vrdn Stock Issuance Costs Included In Accounts Payable
StockIssuanceCostsIncludedInAccountsPayable
0 usd
CY2021 vrdn Stock Issuance Costs Included In Accounts Payable
StockIssuanceCostsIncludedInAccountsPayable
0 usd
CY2022 us-gaap Notes Reduction
NotesReduction
0 usd
CY2021 us-gaap Notes Reduction
NotesReduction
0 usd
CY2023 us-gaap Notes Issued1
NotesIssued1
5000000 usd
CY2022 us-gaap Notes Issued1
NotesIssued1
0 usd
CY2021 us-gaap Notes Issued1
NotesIssued1
0 usd
CY2023 vrdn Amortization Of Stock Issuance Costs
AmortizationOfStockIssuanceCosts
0 usd
CY2022 vrdn Amortization Of Stock Issuance Costs
AmortizationOfStockIssuanceCosts
75000 usd
CY2021 vrdn Amortization Of Stock Issuance Costs
AmortizationOfStockIssuanceCosts
87000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-725900000 usd
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
477400000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s consolidated financial statements are prepared in accordance with U.S. GAAP, which requires it to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual for clinical trial costs and other outsourced research and development expenses and the valuation of share-based awards. Although these estimates are based on the Company’s knowledge of current events and actions it may take in the future, actual results may ultimately differ from these estimates and assumptions.</span></div>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, which include short-term investments that have maturities of less than three months. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts. The Company invests its excess cash primarily in deposits and money market funds held with one financial institution.</span></div>
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
700000 usd
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-200000 usd
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-100000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2021 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0 usd
CY2022 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0 usd
CY2023 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
462914000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
428000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
90000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
463252000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
424840000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
124000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
514000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
424450000 usd
CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
4000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Term
DebtSecuritiesAvailableForSaleTerm
P24M
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2721000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3330000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1049000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2004000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1672000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1326000 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
500000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
300000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
100000 usd
CY2023 vrdn Lessee Operating Lease Number Of Renewal Terms
LesseeOperatingLeaseNumberOfRenewalTerms
3 renewal_term
CY2023Q4 vrdn Accrued Outsourcing Clinicaland Preclinical Studies
AccruedOutsourcingClinicalandPreclinicalStudies
10724000 usd
CY2022Q4 vrdn Accrued Outsourcing Clinicaland Preclinical Studies
AccruedOutsourcingClinicalandPreclinicalStudies
12576000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10513000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4772000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
843000 usd
CY2023Q4 vrdn Accrued Legal Fees Current
AccruedLegalFeesCurrent
399000 usd
CY2022Q4 vrdn Accrued Legal Fees Current
AccruedLegalFeesCurrent
177000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
473000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
392000 usd
CY2023Q4 vrdn Accrued Liabilityof Warrantson Temporary Equity
AccruedLiabilityofWarrantsonTemporaryEquity
100000 usd
CY2022Q4 vrdn Accrued Liabilityof Warrantson Temporary Equity
AccruedLiabilityofWarrantsonTemporaryEquity
100000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
154000 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
39000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
902000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
158000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
24108000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
18827000 usd
CY2023Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1600000 usd
CY2021Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.06
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12M
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
100000 usd
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
100000 usd
CY2020Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.06
CY2022Q2 vrdn Operating Lease Annual Base Rent
OperatingLeaseAnnualBaseRent
400000 usd
CY2022Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
962000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
464000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
474000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
159000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2059000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
227000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1832000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
800000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1000000 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
800000 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
500000 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
500000 usd
CY2023 vrdn Operating Leases Operating Expense
OperatingLeasesOperatingExpense
400000 usd
CY2022 vrdn Operating Leases Operating Expense
OperatingLeasesOperatingExpense
300000 usd
CY2021 vrdn Operating Leases Operating Expense
OperatingLeasesOperatingExpense
300000 usd
CY2023Q4 vrdn Capital Stock Shares Authorized
CapitalStockSharesAuthorized
205000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 vrdn Common Stock Voteper Share
CommonStockVoteperShare
1 vote
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q4 vrdn Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights Net
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRightsNet
249883 shares
CY2022Q4 vrdn Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights Net
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRightsNet
363963 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
15.51
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
363963 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
15.82
CY2023 vrdn Class Of Warrant Or Right Exercised In Period
ClassOfWarrantOrRightExercisedInPeriod
114080 shares
CY2023 vrdn Class Of Warrant Or Right Exercised In Period Weighted Average Grant Date Fair Value
ClassOfWarrantOrRightExercisedInPeriodWeightedAverageGrantDateFairValue
16.50
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
249883 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
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