Business
miRagen Announces Major Changes to Company’s Strategy
Expecting topline data in Q3 2020 from truncated Phase 2 SOLAR clinical trial of cobomarsen in CTCL Pursuing guidance from FDA on a clinical development plan
About this update from Viridian Therapeutics, Inc.
[{"type":"text","content":"Expecting topline data in Q3 2020 from truncated Phase 2 SOLAR clinical trial of cobomarsen in CTCL Pursuing guidance from FDA on a clinical development plan for cobomarsen in ATLL; anticipate meeting in Q2 2020Focusing future pipeline efforts primarily on the development of MRG-229 for the treatment of IPF; preclinical data expected in Q2 2020Announces interim data from a Phase 2 clinical trial of remlarsen in keloid scars Announces additional reduction in work force as part of strategic shift and cost realignmentAnnounces the departure of Paul Rubin, M.D., Executive Vice President of R&D and transition plan promoting Diana Escolar, M.D. to the position of Chief Medical OfficerExtends anticipated cash runway into Q4 2020Entered into a $20 million firm commitment common stock purchase agreement with Aspire Capital Fund, LLC, including an initial sale of $1.0 million in common stockManagement to host conference call today at 5:00 p.m. ET BOULDER, Colo., Dec. 11, 2019 (GLOBE NEWSWIRE) -- miRagen Therapeutics, Inc. (NASDAQ: MGEN), a clinical-stage biopharmaceutical company developing proprietary RNA-targeted therapies with a specific focus on microRNAs, today announced a series of strategic changes across its business that are intended to reallocate its existing capital to deliver important milestones in 2020. These changes include a revised development strategy aimed at delivering data in 2020 from a modified Phase 2 SOLAR clinical trial of cobomarsen in cutaneous T-cell lymphoma (CTCL), consulting with the U.S. Food and Drug Administration (FDA) to define a development path for cobomarsen in adult T-cell leukemia/lymphoma (ATLL), and focusing future pipeline development efforts primarily on MRG-229, a novel second generation miR-29 mimic and potential treatment in patients with idiopathic pulmonary fibrosis (IPF). \n Together with its updated development strategy, the Company is streamlining operations and reallocating its existing resources, which includes a workforce reduction that will impact approximately 18 employees. After changes to the SOLAR clinical trial and the reduction in workforce, the Company believes its cash and cash equivalents will now be sufficient to fund its operations into the fourth quarter of 2020. “We are executing on a strategy to streamline our operations which we believe will allow us to focus our dev...