Opus Genetics raises $23 million in registered direct offering

Opus Genetics Inc. (NASDAQ: IRD) announced it has entered into a securities purchase agreement for a registered direct offering that will generate gross proceeds of approximately $23 million before deducting offering expenses.

The financing was led by Perceptive Advisors and Balyasny Asset Management, with participation from Nantahala Capital. The offering includes both new and existing institutional investors.

The company is selling 3,827,751 shares of common stock at $2.09 per share and pre-funded warrants to purchase up to 7,177,033 shares at $2.0899 per warrant. The pre-funded warrants have an exercise price of $0.0001 per share, are immediately exercisable, and may be exercised until fully exercised.

Opus Genetics plans to use the net proceeds to advance its LCA5 and BEST-1 gene therapy clinical programs, as well as for working capital and general corporate purposes. The company expects its cash resources, including proceeds from this offering, will fund operations into the second half of 2027 based on current operating plans.

"Following the successful outcome of our U.S. Food and Drug Administration (FDA) meeting for OPGx-LCA5, this financing positions us to advance our LCA5 and BEST-1 programs with the ultimate goal of restoring vision and preventing blindness in patients with inherited retinal diseases," said George Magrath, Chief Executive Officer.

The offering is expected to close on November 7, 2025, subject to customary closing conditions. The company did not use a placement agent for the transaction.

Opus Genetics is a clinical-stage biopharmaceutical company developing gene therapies for inherited retinal diseases and small molecule therapies for other ophthalmic disorders. The company is based in Research Triangle Park, North Carolina.

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