Viridian Therapeutics, Inc.\DEVRDN
Viridian Therapeutics, Inc.\DE Commitments Disclosure
COMMITMENTS AND CONTINGENCIES
Lease Obligations
Waltham, Massachusetts
In October 2020, the Company assumed a multi-year, non-cancelable lease agreement of office space in Waltham, Massachusetts for its corporate headquarters, (as subsequently amended in July 2021, April 2022, July 2022, April 2024, September 2024 and September 2025, the “Massachusetts Lease”). Fixed and in-substance fixed lease payments under the Massachusetts Lease are recognized on a straight-line basis over the lease term.
In April 2024, the Company entered into a fourth amendment of the Massachusetts Lease (the “Fourth Amendment”). The Fourth Amendment makes certain modifications to the Massachusetts Lease, including (i) securing 10,427 square feet of office space in a new building suite (the “New Premises”), (ii) the termination of the 10,956 square feet of leased space under the existing Massachusetts Lease (the “Original Premises”), and (iii) the extension of the expiration date of the leased space to five years from the delivery of the New Premises. The Company is also obligated to pay the landlord certain costs, taxes and operating expenses. Under the Fourth Amendment, the Massachusetts Lease will expire in July 2029. The Company has the option to extend the lease term for an additional period of three years upon notice to the landlord. The option to extend is not included in the lease term assessment as it is not reasonably certain the Company will exercise the option. The Company recorded a new right-of-use asset of $1.6 million and corresponding lease liability of $1.9 million for the New Premises and simultaneously derecognized the right-of-use asset of $1.1 million and corresponding lease liability of $1.2 million for the Original Premises.
In September 2024, the Company entered into a fifth amendment of the Massachusetts Lease (the “Fifth Amendment”) to lease an additional 2,788 square feet of office space in the same building. The Fifth Amendment provides for additional annual base rent of approximately $0.1 million for the additional office space. The Fifth Amendment was treated as a lease modification accounted for as a separate contract and the Company recorded a new right-of-use asset and corresponding lease liability of approximately $0.5 million.
In September 2025, the Company entered into a sixth amendment of the Massachusetts Lease (the “Sixth Amendment”) to lease an additional 5,240 square feet of office space in the same building. The Sixth Amendment provides for additional annual base rent of approximately $0.2 million for the additional office space. The Sixth Amendment was treated as a lease modification accounted for as a separate contract and the Company recorded a new right-of-use asset and corresponding lease liability of approximately $0.7 million.
Boulder, Colorado
The Company has a multi-year, non-cancelable lease agreement for its Colorado-based office and lab space (the “Colorado Lease”) with a lease maturity date of December 2024.
In September 2024, the Company entered into a new, multi-year lease agreement for its Colorado-based office and lab space (the “New Colorado Lease”). Under ASC 842, the New Colorado Lease was treated as a lease modification representing an extension of the lease term to December 2026 for a reduced portion of the space currently in use under the existing Colorado Lease. As of the effective date, the Company recorded a $0.3 million increase in the right-of-use asset and corresponding lease liability. The remaining space under the Colorado Lease terminated in December 2024. The Company is obligated to pay the landlord certain costs, taxes, and operating expenses. The Company has the option to extend the lease term for an additional period of five years upon notice to the landlord. The option to extend is not included in the lease term as it is not reasonably certain the Company will exercise the option.
Future lease payments under noncancellable leases as of December 31, 2025 are as follows (in thousands):
| Year Ending December 31, | ||||||||
| 2026 | $ | 965 | ||||||
| 2027 | 836 | |||||||
| 2028 | 854 | |||||||
| 2029 | 504 | |||||||
| Total undiscounted lease liabilities | 3,159 | |||||||
| Less: imputed interest | (447) | |||||||
| Total discounted lease liabilities | $ | 2,712 | ||||||
As of December 31, 2025, the Company’s operating lease obligations were reflected as short-term operating lease liabilities of $0.8 million within and $1.9 million of long-term lease obligations within in the Company’s consolidated balance sheets. As of December 31, 2025 and 2024, the weighted average remaining lease term was 3.5 years and 4.3 years, respectively, and the weighted average incremental borrowing rate used to determine the operating lease liability was 9.2% and 9.3%, respectively.
Amortization of the operating lease right-of-use assets, and corresponding reduction of operating lease liabilities, amounted to $0.7 million, $0.7 million and $0.8 million for the years ended December 31, 2025, 2024 and 2023, respectively, which was included in operating expense in the consolidated statements of operations and comprehensive loss.
The Company is also required to pay certain variable operating costs, taxes, and operating expenses related to the leased space, which were $0.1 million, $0.4 million and $0.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Mar 9, 2023 | |
| 2021 | Mar 11, 2022 | |
| 2020 | Mar 26, 2021 | |
| 2019 | Mar 13, 2020 | |
| 2018 | Mar 14, 2019 | |
| 2017 | Mar 15, 2018 | |
| 2016 | Mar 24, 2017 | |
| 2015 | Mar 21, 2016 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.