Opus Genetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Opus Genetics (Nasdaq: IRD), a clinical-stage biopharmaceutical company focused on gene therapies for inherited retinal diseases, has announced equity inducement grants for its new CFO and five non-executive employees.

The company granted new CFO Rob Gagnon options to purchase 250,000 shares and 200,000 restricted stock units (RSUs). Additionally, five non-executive employees received options to purchase an aggregate of 483,448 shares. The CFO's options and RSUs will begin vesting on September 2, 2026, while the non-executive employee options vest over four years with a one-year cliff.

RESEARCH TRIANGLE PARK, N.C., Sept. 12, 2025 (GLOBE NEWSWIRE) -- Opus Genetics, Inc. (Nasdaq: IRD), a clinical-stage biopharmaceutical company developing gene therapies for the treatment of inherited retinal diseases (IRDs) and small molecule therapies for other ophthalmic disorders (the “Company”), today announced that the Compensation Committee of its Board of Directors approved equity awards under the Company’s 2021 Inducement Plan, as amended, as a material inducement to employment to Rob Gagnon the Company’s newly appointed Chief Financial Officer, as well as to five non-executive employees, in each case, who were not previous employees or directors of the Company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of any equity awards that are not made under a stockholder approved equity plan.

The equity awards for Mr. Gagnon were granted in the form of options to purchase 250,000 shares of the Company’s common stock and restricted stock units (“RSUs”) with respect to 200,000 shares of the Company’s common stock. The option award has an exercise price equal to the fair market value of an underlying share of Company common stock as of the date of grant. The awards will vest with respect to 25% on September 2, 2026, with the remaining shares vesting in equal monthly installments on the last day of each full month over the next thirty-six (36) months, subject to acceleration or forfeiture upon the occurrence of certain events as set forth in the award agreements.

The equity awards for the five non-executive employees were granted in the form of options to purchase an aggregate of 483,448 shares of the Company’s common stock. The option awards have an exercise price equal to the fair market value of an underlying share of Company common stock as of the date of grant and vest over a period of four years, with 25% vesting on the one-year anniversary of the grant date and the remaining 75% vesting in quarterly installments thereafter, subject to acceleration or forfeiture upon the occurrence of certain events as set forth in each new hire’s award agreements. The RSUs vest in equal annual installments on each of the first four anniversaries of the grant date, subject to acceleration or forfeiture upon the occurrence of certain events as set forth in each new hire’s award agreements.

About Opus Genetics

Opus Genetics is a clinical-stage biopharmaceutical company developing gene therapies for the treatment of inherited retinal diseases (IRDs) and small molecule therapies for other ophthalmic disorders. The Company’s pipeline features AAV-based gene therapies targeting inherited retinal diseases including Leber congenital amaurosis (LCA), bestrophinopathy, and retinitis pigmentosa. Its lead gene therapy candidates are OPGx-LCA5, which is in an ongoing Phase 1/2 trial for LCA5-related mutations, and OPGx-BEST1, a gene therapy targeting BEST1-related retinal degeneration. Opus Genetics is also advancing Phentolamine Ophthalmic Solution 0.75%, a partnered therapy currently approved in one indication and being studied in two Phase 3 programs for presbyopia and reduced low light vision and nighttime visual disturbances. The Company is based in Research Triangle Park, NC. For more information, please visit www.opusgtx.com.

Contacts

Investors
Jenny Kobin
Remy Bernarda
IR Advisory Solutions
ir@opusgtx.com

Media
Kimberly Ha
KKH Advisors
917-291-5744
kimberly.ha@kkhadvisors.com

FAQ

What equity awards did Opus Genetics (IRD) grant to its new CFO Rob Gagnon?

Opus Genetics granted Rob Gagnon options to purchase 250,000 shares of common stock and 200,000 restricted stock units (RSUs).

What is the vesting schedule for Opus Genetics (IRD) CFO's equity awards?

The awards will vest 25% on September 2, 2026, with remaining shares vesting in equal monthly installments over the next 36 months.

How many non-executive employees received equity awards from Opus Genetics (IRD)?

Five non-executive employees received options to purchase an aggregate of 483,448 shares of company common stock.

What is the vesting schedule for Opus Genetics (IRD) non-executive employee options?

The options vest over four years, with 25% vesting after one year and the remaining 75% vesting in quarterly installments thereafter.