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Viridian Therapeutics (Viridian Therapeutics) Beneish M-Score

: -2.16 (As of Today)
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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Viridian Therapeutics's Beneish M-Score or its related term are showing as below:

VRDN' s Beneish M-Score Range Over the Past 10 Years
Min: -10.6   Med: -3.59   Max: -0.89
Current: -2.16

During the past 12 years, the highest Beneish M-Score of Viridian Therapeutics was -0.89. The lowest was -10.60. And the median was -3.59.


Viridian Therapeutics Beneish M-Score Historical Data

The historical data trend for Viridian Therapeutics's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Viridian Therapeutics Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -5.69 - -0.89 -4.43 -2.16

Viridian Therapeutics Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.43 -4.17 -3.42 -5.42 -2.16

Competitive Comparison

For the Biotechnology subindustry, Viridian Therapeutics's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Viridian Therapeutics Beneish M-Score Distribution

For the Biotechnology industry and Healthcare sector, Viridian Therapeutics's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Viridian Therapeutics's Beneish M-Score falls into.



Viridian Therapeutics Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Viridian Therapeutics for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 5.6433+0.528 * 1+0.404 * 0.5459+0.892 * 0.1772+0.115 * 0.5915
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 15.2382+4.679 * -0.10922-0.327 * 1.0937
=-2.16

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was $0.10 Mil.
Revenue was 0.072 + 0.072 + 0.072 + 0.098 = $0.31 Mil.
Gross Profit was 0.072 + 0.072 + 0.072 + 0.098 = $0.31 Mil.
Total Current Assets was $486.48 Mil.
Total Assets was $490.42 Mil.
Property, Plant and Equipment(Net PPE) was $3.34 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.52 Mil.
Selling, General, & Admin. Expense(SGA) was $95.00 Mil.
Total Current Liabilities was $26.64 Mil.
Long-Term Debt & Capital Lease Obligation was $20.21 Mil.
Net Income was -66.86 + -47.66 + -55.063 + -68.151 = $-237.73 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -38 + -38.983 + -45.214 + -61.973 = $-184.17 Mil.
Total Receivables was $0.10 Mil.
Revenue was 0.105 + 1.195 + 0.256 + 0.216 = $1.77 Mil.
Gross Profit was 0.105 + 1.195 + 0.256 + 0.216 = $1.77 Mil.
Total Current Assets was $431.17 Mil.
Total Assets was $435.09 Mil.
Property, Plant and Equipment(Net PPE) was $2.94 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.26 Mil.
Selling, General, & Admin. Expense(SGA) was $35.18 Mil.
Total Current Liabilities was $33.35 Mil.
Long-Term Debt & Capital Lease Obligation was $4.65 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(0.102 / 0.314) / (0.102 / 1.772)
=0.324841 / 0.057562
=5.6433

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(1.772 / 1.772) / (0.314 / 0.314)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (486.478 + 3.342) / 490.424) / (1 - (431.173 + 2.936) / 435.091)
=0.001232 / 0.002257
=0.5459

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=0.314 / 1.772
=0.1772

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0.255 / (0.255 + 2.936)) / (0.522 / (0.522 + 3.342))
=0.079912 / 0.135093
=0.5915

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(94.999 / 0.314) / (35.182 / 1.772)
=302.544586 / 19.854402
=15.2382

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((20.205 + 26.635) / 490.424) / ((4.645 + 33.349) / 435.091)
=0.095509 / 0.087324
=1.0937

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-237.734 - 0 - -184.17) / 490.424
=-0.10922

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Viridian Therapeutics has a M-score of -2.16 suggests that the company is unlikely to be a manipulator.


Viridian Therapeutics Beneish M-Score Related Terms

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Viridian Therapeutics (Viridian Therapeutics) Business Description

Traded in Other Exchanges
Address
221 Crescent Street, Suite 401, Waltham, MA, USA, 02453
Viridian Therapeutics Inc is a clinical-stage biopharmaceutical company that engages in developing multiple product candidates to treat patients who suffer from thyroid eye disease. Its product candidate VRDN-001 is an insulin-like growth factor-1 receptor (IGF-1R) monoclonal antibody (mAb) being developed for the potential treatment for patients with thyroid eye disease.
Executives
Stephen F. Mahoney director, officer: President and CEO C/O KINIKSA PHARMACEUTICALS, LTD., CLARENDON HOUSE, 2 CHURCH STREET, HAMILTON D0 HM11
Thomas W. Beetham officer: Chief Operating Officer C/O KINIKSA PHARMACEUTICALS, LTD., CLARENDON HOUSE, 2 CHURCH STREET, HAMILTON D0 HM11
Sarah Gheuens director C/O AGIOS PHARMACEUTICALS, INC., 88 SIDNEY STREET, CAMBRIDGE MA 02139
Seth Harmon officer: See Remarks C/O VIRIDIAN THERAPEUTICS, INC., 221 CRESCENT STREET, SUITE 401, WALTHAM MA 02453
Lara Meisner officer: General Counsel and Secretary C/O VIRIDIAN THERAPEUTICS, INC., 203 CRESCENT STREET, BLDG. 17, SUITE 102, WALTHAM MA 02453
Scott Dunseth Myers director, officer: Chief Executive Officer C/O CASCADIAN THERAPEUTICS, INC., 3101 WESTERN AVE., SUITE 600, SEATTLE WA 98121
Jonathan Violin officer: President and COO 955 CHESTERBROOK BOULEVARD, SUITE 200, CHESTERBROOK PA 19087
Barrett Katz officer: Chief Medical Officer 6200 LOOKOUT ROAD, C/O MIRAGEN THERAPEUTICS, INC., BOULDER CO 80301
Fairmount Healthcare Fund Gp Llc director, other: See Remarks 2001 MARKET STREET, SUITE 2500, PHILADELPHIA PA 19103
Carrie Melvin officer: COO C/O VIRIDIAN THERAPEUTICS, INC., 203 CRESCENT STREET, BLDG 17, SUITE 102B, WALTHAM MA 02453
Frazier Life Sciences Public Fund, L.p. 10 percent owner TWO UNION SQUARE, 601 UNION ST., SUITE 3200, SEATTLE WA 98101
L.p. Fhmlsp, 10 percent owner C/O FRAZIER HEALTHCARE PARTNERS, 601 UNION STREET, SUITE 3200, SEATTLE WA 98101
Fhmlsp, L.l.c. 10 percent owner C/O FRAZIER HEALTHCARE PARTNERS, 601 UNION STREET, SUITE 3200, SEATTLE WA 98101
Kristian Humer officer: CFO and CBO C/O VIRIDIAN THERAPEUTICS, INC., 6200 LOOKOUT ROAD, BOULDER CO 80301
Jennifer K. Moses director 79 TW ALEXANDER DRIVE, 4501 RESEARCH COMMONS, SUITE 100, RESEARCH TRIANGLE PARK NC 27709