Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Viridian Therapeutics, Inc.\De (VRDN)
A forensic read on Viridian Therapeutics, Inc.\De built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Grey Zone
Financial health
11.0
Distress distance
Clean
Earnings quality
3
Forensic signals
-6.7
P / E (ttm)
-47.4%
ROE
$2.6B
Market cap
0.00%
Dividend yield
23359.9%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Viridian Therapeutics, Inc.\De earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 11.0, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by shareholder returns.
What the filings flag
FCF ($15M)
FY2016
Shareholder returns.Returned $2,000 to shareholders (buybacks + dividends) in FY2016, but free cash flow was ($15M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
n/m (stock split)
FY2020–FY2023
Share count (stock split).Diluted share count changed +1158% over the last 3 years to FY2023, but that includes a large one-time change around FY2021 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +132.6%/yr figure isn't a real buyback/dilution read here.
63% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 63% of revenue in FY2025. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 39.5% a year, small enough that totals and per-share results tell the same story.
Key fundamentals
Latest Revenue$70.8M
Revenue Growth YoY+23359.9%
Revenue CAGR (3yr)+241.8%
Net Margin-483.6%
Free Cash Flow-$276.9M
Return on Equity-47.4%
Debt / Equity0.04x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Viridian Therapeutics, Inc.\De's actual 10-K/10-Q/8-K filings?