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Miragen Therapeutics, Inc. (MGEN)

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1.4000+0.1400 (+11.11%)
At close: 4:00PM EDT

1.8400 +0.44 (31.43%)
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Neutralpattern detected
Previous Close1.2600
Open1.0100
Bid0.0000 x 1100
Ask0.0000 x 29200
Day's Range0.9622 - 1.5000
52 Week Range0.3110 - 2.2700
Volume30,187,159
Avg. Volume5,132,230
Market Cap79.254M
Beta (5Y Monthly)1.90
PE Ratio (TTM)N/A
EPS (TTM)-0.8840
Earnings DateAug 05, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est5.00
  • Benzinga

    Looking Into Miragen Therapeutics's Return On Capital Employed

    During Q2, Miragen Therapeutics (NASDAQ: MGEN) brought in sales totaling $168.00 thousand. However, earnings decreased 20.31%, resulting in a loss of $6.37 million. Miragen Therapeutics collected $828.00 thousand in revenue during Q1, but reported earnings showed a $8.00 million loss.What Is Return On Capital Employed? Changes in earnings and sales indicate shifts in Miragen Therapeutics's Return on Capital Employed, a measure of yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE suggests successful growth of a company and is a sign of higher earnings per share in the future. In Q2, Miragen Therapeutics posted an ROCE of -0.3%.It is important to keep in mind ROCE evaluates past performance and is not used as a predictive tool. It is a good measure of a company's recent performance, but several factors could affect earnings and sales in the near future.View more earnings on MGENReturn on Capital Employed is an important measurement of efficiency and a useful tool when comparing companies that operate in the same industry. A relatively high ROCE indicates a company may be generating profits that can be reinvested into more capital, leading to higher returns and growing EPS for shareholders.In Miragen Therapeutics's case, the ROCE ratio shows the amount of assets may not be helping the company achieve higher returns. Investors may take this into account before making any long-term financial decisions.Q2 Earnings Recap Miragen Therapeutics reported Q2 earnings per share at $-0.12/share, which beat analyst predictions of $-0.16/share.See more from Benzinga * Click here for options trades from Benzinga * 11 Healthcare Stocks Moving In Wednesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • miRagen Therapeutics, Inc. Announces Acquisition of Viridian Therapeutics, Inc.
    GlobeNewswire

    miRagen Therapeutics, Inc. Announces Acquisition of Viridian Therapeutics, Inc.

    Acquisition includes clinical stage anti-IGF-1R monoclonal antibody, VRDN-001, intended for the treatment of thyroid eye disease (TED) Company plans to use private placement financing proceeds of $91 million to advance multiple compounds through phase 2 proof of concept studies in TED and to expand its orphan disease pipelineConference Call and Webcast today at 9:00 a.m. EDTBOULDER, Colo. and WALTHAM, Mass., Oct. 28, 2020 (GLOBE NEWSWIRE) --  miRagen Therapeutics, Inc. (“miRagen”) (NASDAQ: MGEN) today announced it has completed the acquisition of Viridian Therapeutics, Inc. (“Viridian”), a privately held biotechnology company focused on advancing new treatments for patients with diseases that are underserved by today’s therapies. Concurrent with the acquisition of Viridian, miRagen entered into a definitive agreement for the sale of Series A non-voting convertible preferred stock (the “Series A preferred stock”) in a private placement to a group of institutional accredited investors led by Fairmount Funds Management LLC (“Fairmount Funds”), with participation from Venrock Healthcare Capital Partners, BVF Partners L.P., Cormorant Asset Management, Perceptive Advisors, Wellington Management, Ally Bridge Group, Logos Capital, Surveyor Capital (a Citadel company), Commodore Capital, and Ridgeback Capital, as well as additional undisclosed institutional investors. The private placement is expected to result in gross proceeds to miRagen of approximately $91 million before deducting placement agent and other offering expenses. The proceeds from the private placement are intended to be used primarily to advance clinical studies of VRDN-001, a clinical-stage insulin-like growth factor-1 receptor (IGF-1R) monoclonal antibody (mAb) in development for thyroid eye disease (TED), a debilitating condition that can cause bulging eyes, or proptosis, as well as double vision and potential blindness.“After a thorough evaluation of strategic alternatives, the Board of Directors of miRagen believes this acquisition represents the highest-potential value creation opportunity for miRagen’s stockholders. My sincere thanks and appreciation to our Board members and management team, both past and present, along with our investors for their support and commitment,” said Jeffrey S. Hatfield, Chairman of the Board of Directors of miRagen. “We are excited by the potential for VRDN-001 to become a meaningful treatment option for patients living with TED.”miRagen’s lead candidate, VRDN-001 will be studied as a potential treatment for patients with TED. More than 100 oncology patients have previously been treated with the antibody in US and EU studies, under the name AVE-1642, enabling some understanding of its pharmacokinetic and pharmacodynamic profile, as well as its safety and tolerability. Pending feedback from regulatory authorities, miRagen expects to initiate a Phase 2 clinical trial of VRDN-001 in TED in 2021.Worldwide rights to develop and commercialize VRDN-001 for all non-oncology indications that do not use radiopharmaceuticals, including the treatment of TED, were exclusively licensed by Viridian from ImmunoGen, Inc. Under the terms of the agreement, ImmunoGen received an upfront payment, and is eligible for additional developmental milestones and mid-single-digit royalty payments.In parallel with VRDN-001 development, Viridian initiated the VRDN-002 program, which seeks to improve IGF-1R-targeted antibodies by incorporating half-life extension technology to reduce the dose required to achieve full efficacy in TED patients and enhance solubility to achieve the lowest possible injection volume. This program is advancing rapidly and miRagen expects to file an Investigational New Drug application for VRDN-002 in 2021.Contingent Value RightIn connection with the transactions announced today, a non-transferrable contingent value right (“CVR”) is expected to be distributed to holders of miRagen common stock within the next 30 days. Holders of the CVR will be entitled to receive certain payments from proceeds received by miRagen, if any, related to the disposition of its legacy microRNA-based assets for a period of five years following the closing of the transaction. miRagen is actively conducting broad-based outreach to find a partner or to spin-out new enterprises for its legacy microRNA-based programs.Management and OrganizationThe current miRagen management team, including Lee Rauch, Chief Executive Officer, Jason A. Leverone, Chief Financial Officer, and Diana Escolar, MD, FFAN, Chief Medical Officer, will be expanded with the appointment of Jonathan Violin, PhD, CEO of Viridian, to President and Chief Operating Officer of miRagen, and Vahe Bedian, PhD, Chief Scientific Officer of Viridian, to CSO of miRagen.In conjunction with the transaction, miRagen Board members will include Jeffrey Hatfield, Chairman of the Board of Directors, miRagen, Peter Harwin, Managing Member, Fairmount Funds, Tomas Kiselak, Managing Member, Fairmount Funds, and current miRagen Board members Arlene M. Morris, CEO, Willow Advisors, LLC, Lee Rauch, CEO, miRagen, and Joe Turner, Board of Directors Audit Chair, miRagen.About the TransactionsThe acquisition of Viridian was structured as a stock-for-stock transaction whereby all of Viridian’s outstanding equity interests were exchanged for a combination of shares of miRagen common stock and shares of Series A preferred stock. Concurrently with the acquisition of Viridian, miRagen entered into definitive agreements for a PIPE investment with existing and new investors to raise $91 million in which the investors will be issued shares of Series A preferred stock at a price of $465.96 per share (or $0.46596 per share on an as-converted-to-common basis). The PIPE offering is expected to close on October 30, 2020. Subject to stockholder approval, each share of Series A preferred stock will, at the option of the holder, convert into 1,000 shares of common stock, subject to certain beneficial ownership limitations set by each holder. On a pro forma basis and based upon the number of shares of miRagen common stock and preferred stock issued in the acquisition and the concurrent financing, miRagen equity holders immediately prior to the acquisition will own approximately 12% of miRagen on an as-converted basis immediately after these transactions. The acquisition was approved by the Board of Directors of miRagen and the Board of Directors and equity holders of Viridian. The closing of the transactions was not subject to the approval of miRagen stockholders. Ladenburg Thalmann & Co. Inc. is serving as exclusive financial advisor to miRagen and Cooley LLP is serving as legal counsel to miRagen. Wedbush PacGrow is serving as exclusive strategic advisor to Viridian, and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Viridian. Jefferies LLC is acting as lead placement agent for the private placement and JMP Securities LLC is acting as co-placement agent. Wilmer Cutler Pickering Hale and Dorr LLP is serving as legal counsel to the placement agents.After completion of the acquisition and private placement financing, miRagen is expected to have pro forma cash on hand of approximately $140 million and cash runway through 2023.Additional details are available in an updated corporate presentation that can be found online at www.miragen.com.Conference Call and Webcast Details miRagen will host a conference call and webcast on October 28, 2020, at 9 a.m. EDT to discuss the acquisition. To access the call, please dial 877-407-0789 (toll-free) or 201-689-8562 (international) and provide the conference ID 13712504. To access the webcast, please go to http://public.viavid.com/index.php?id=142227For more information on the acquisition, please visit the investor section of miRagen’s website at www.miragen.com.About miRagen TherapeuticsmiRagen Therapeutics is a biotechnology company advancing new treatments for patients with diseases that are underserved by today’s therapies. miRagen’s most advanced program, VRDN-001, is a clinical-stage anti-IGF-1R monoclonal antibody in development for thyroid eye disease (TED). miRagen is headquartered in Boulder, Colo., with research and development operations in Waltham, Mass.Follow miRagen Therapeutics on social media: @miRagenRx and LinkedIn.Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: uses of proceeds; projected cash runways; future product development plans; stockholder approval of the conversion rights of the Series A preferred stock; and any future payouts under the CVR. The use of words such as, but not limited to, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" and similar words expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, our clinical results and other future conditions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption “Risk Factors” in miRagen’s most recent Annual Report on Form 10-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither we, nor our affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.Investor Relations contact:Dan Ferry LifeSci Advisors daniel@lifesciadvisors.com 617.430.7576Media contact:Darby Pearson Verge Scientific Communications dpearson@vergescientific.com 703.587.0831

  • GlobeNewswire

    miRagen Announces Internal Review of Preliminary Topline Data for the Phase 2 SOLAR Clinical Trial of Cobomarsen in Patients with Cutaneous T-Cell Lymphoma (CTCL)

    miRagen decides to discontinue further internal development of cobomarsenBOULDER, Colo., Oct. 05, 2020 (GLOBE NEWSWIRE) -- miRagen Therapeutics, Inc. (NASDAQ: MGEN), a clinical-stage biopharmaceutical company focused on the discovery and development of RNA-targeted therapies, announced today that it has conducted an internal review of preliminary topline data from its Phase 2 SOLAR clinical trial of cobomarsen in patients with Cutaneous T-Cell Lymphoma (CTCL). Based on investigator assessments, these preliminary data in 37 patients suggest that cobomarsen lacks a compelling result for the study's primary endpoint, objective skin response of at least four months duration (ORR4) relative to the vorinostat control arm. Progression free survival (PFS), a secondary endpoint for the study, indicates a treatment effect in favor of cobomarsen. In addition, cobomarsen was well tolerated, with no patient discontinuations due to cobomarsen-related adverse events. The SOLAR study was designed to evaluate the safety and efficacy of cobomarsen given by intravenous infusion in an active control comparison trial for patients with the mycosis fungoides subtype of CTCL. In December 2019, miRagen announced it would halt enrollment in the SOLAR trial well short of the intended 126 CTCL patients in order to reduce the time and resource expenditure to evaluate the drug’s potential. The downsized SOLAR study is not statistically powered for superiority or equivalence.“We have completed this preliminary evaluation and will continue to analyze the final topline data and other secondary SOLAR data as we seek a partner for cobomarsen,” stated Ms. Lee Rauch, President and Chief Executive Officer. “Our research and development strategy remains focused on the advancement of our lead program MRG-229 for Idiopathic Pulmonary Fibrosis (IPF).”In addition, as recently announced, the Board of Directors continues to evaluate strategic alternatives for the Company. Potential strategic alternatives may include, but are not limited to, an acquisition, merger, business combination, in-licensing, or other strategic transactions. There can be no assurance that this process will result in any such transaction. miRagen has not set a timetable for completion of this process and does not intend to comment further on this process unless or until the Board of Directors has approved a definitive agreement.About miRagen TherapeuticsmiRagen Therapeutics, Inc. is a clinical-stage biopharmaceutical company discovering and developing proprietary RNA-targeted therapies with a specific focus on microRNAs and their role in diseases where there is a high unmet medical need. miRagen has three clinical stage product candidates, cobomarsen, remlarsen, and MRG-110. miRagen’s clinical product candidate for the treatment of certain cancers, cobomarsen, is an inhibitor of miR-155, which is found at abnormally high levels in malignant cells of several blood cancers. miRagen’s clinical product candidate for the treatment of pathological fibrosis, remlarsen, is a replacement for miR-29, which is found at abnormally low levels in a number of pathological fibrotic conditions, including cutaneous, cardiac, renal, hepatic, pulmonary and ocular fibrosis, as well as in systemic sclerosis. MRG-110, an inhibitor of miR-92, is miRagen’s product candidate for the treatment of heart failure and other ischemic disease. In addition to these programs, miRagen is developing a pipeline of preclinical product candidates. For more information, please visit www.miragen.com. For information on clinical trials please visit www.clinicaltrials.gov.Note Regarding Forward-Looking StatementsThis press release may contain forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding miRagen’s strategy, anticipated clinical development milestones, future operations, ability to negotiate or complete any future strategic transaction, future financial position, future revenue, projected expenses, prospects, plans and objectives of management or the expected features of or potential indications for miRagen’s product candidates are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict,” “potential,” “opportunity,” “goals,” or “should,” and similar expressions are intended to identify forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation: that miRagen has incurred losses since its inception, and anticipates that it will continue to incur significant losses for the foreseeable future; future financing activities may cause miRagen to restrict its operations or require it to relinquish rights; miRagen may fail to demonstrate safety and efficacy of its product candidates; miRagen’s product candidates are unproven and may never lead to marketable products; miRagen’s product candidates are based on a relatively novel technology, which makes it difficult to predict the time and cost of development and of subsequently obtaining regulatory approval, if at all; miRagen’s product candidates may cause undesirable side effects or have other properties that could delay or prevent the regulatory approval; and the results of miRagen’s clinical trials to date are not sufficient to show safety and efficacy of miRagen’s product candidates and may not be indicative of future clinical trial results.miRagen has based these forward-looking statements largely on its current expectations and projections about future events and trends. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the heading “Risk Factors” in miRagen’s Annual Report on Form 10-K and subsequent periodic and current reports filed with the Securities and Exchange Commission. Moreover, miRagen operates in a very competitive and rapidly changing environment. New risks emerge from time to time.It is not possible for its management to predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements it may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. miRagen undertakes no obligation to revise or publicly release the results of any revision to such forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.Investor Relations Contact: Dan Ferry LifeSci Advisors (617) 430-7576 daniel@lifesciadvisors.com