Opus Genetics (IRD) reports inducement awards

Opus Genetics, Inc. (Nasdaq: IRD), a clinical-stage ophthalmic biopharmaceutical company developing important new therapies for the treatment of inherited retinal diseases (IRDs) and other ophthalmic disorders, today announced that the independent members of its Board of Directors approved equity awards under the Company’s 2021 Inducement Plan, as amended, as a material inducement to two new employees in connection with the commencement of their employment with the Company effective March 13, 2025. The equity awards were approved in accordance with Nasdaq Listing rule 635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

The equity awards were granted in the form of options to purchase an aggregate of 205,742 shares of the Company’s common stock. The option awards each have an exercise price of $0.93 per share, the closing price of the Company’s common stock on the grant date of March 13, 2025. The options vest over a period of four years, with 25% vesting on the one-year anniversary of the grant date and the remaining 75% vesting either in equal monthly or quarterly installments thereafter, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in each new hire’s award agreements.

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