Opus Genetics, Inc. SEC Filings

Opus Genetics, Inc. received an updated ownership report from Perceptive Advisors LLC, Joseph Edelman and Perceptive Life Sciences Master Fund, Ltd., stating beneficial ownership of 9,233,710 shares of Common Stock, representing 9.99% of the company’s Common Stock outstanding as of August 3, 2026.

The stake is held entirely through warrants. The Master Fund holds Pre-Funded Warrants to purchase 13,617,584 shares at $0.0001 per share and Common Warrants to purchase 13,157,895 shares at $0.95 per share. A Beneficial Ownership Limitation of 9.99% restricts warrant exercises so that, as of this amendment, only 9,233,710 underlying shares are treated as beneficially owned under Section 13(d). Perceptive Advisors acts as investment manager to the Master Fund, and Mr. Edelman is the managing member of Perceptive Advisors.

Caligan Partners LP and David Johnson report beneficial ownership of Opus Genetics, Inc. common stock on a passive Schedule 13G/A basis. They collectively report 6,077,084 shares of common stock, representing 7.3% of the class.

The ownership percentage is based on 83,195,823 shares of Opus Genetics common stock outstanding as of August 3, 2026, as reported by the company for the quarter ended June 30, 2026. All reported shares are held with shared voting and dispositive power through Caligan-managed funds and accounts.

Balyasny Asset Management and affiliates reported a significant ownership position in Opus Genetics Inc. common stock. Through Atlas Diversified Master Fund, Ltd., they beneficially own 5,480,210 shares, including 3,087,866 shares and 2,392,344 shares issuable upon exercise of Warrants, representing approximately 6.64% of the outstanding common stock, based on 82,565,835 shares outstanding as of May 31, 2026. Each reporting entity and Dmitry Balyasny are deemed to have sole voting and dispositive power over these shares, while Atlas Diversified Master Fund has the right to receive dividends and sale proceeds. The Warrants are subject to a 9.99% Beneficial Ownership Limitation blocker, restricting exercises that would push beneficial ownership above that threshold.

Opus Genetics, Inc. is registering a mixed "shelf" offering of up to $300,000,000 of common stock, preferred stock, debt securities, warrants and units, plus up to 34,449,749 shares of common stock issuable upon exercise of outstanding warrants and pre-funded warrants. A concurrent at-the-market program allows sales of up to $125,000,000 of common stock through Leerink Partners and Cantor Fitzgerald. As of June 30, 2026, 82,647,946 common shares were outstanding, with substantial additional shares reserved under options, warrants, pre-funded warrants and convertible notes. Net proceeds are intended for working capital and general corporate purposes, including research and development of its gene therapy pipeline for inherited retinal diseases and other ophthalmic disorders.

Opus Genetics, Inc. reported a net loss of $73,633 thousand for the six months ended June 30, 2026, compared with $15,614 thousand a year earlier, as license and collaboration revenue declined to $2,912 thousand from $7,252 thousand and operating expenses increased, led by research and development of $21,784 thousand and general and administrative of $11,972 thousand. Results were further affected by a $44,190 thousand loss from fair value changes in warrants and new notes, partially offset by other income of $2,514 thousand.

Cash and cash equivalents rose to $88,812 thousand at June 30, 2026, with total assets of $92,968 thousand, but stockholders’ equity shifted to a deficit of $12,986 thousand, driven by warrant liabilities of $62,145 thousand, fair-value debt of $34,932 thousand and an accumulated deficit of $262,222 thousand. The company strengthened liquidity through a $25.0 million Series B preferred financing (now converted to common stock), a $35.0 million initial tranche under a secured note purchase agreement that permits up to $155.0 million of funding, a $5.0 million common stock purchase tied to that facility, at-the-market share sales and warrant and option exercises. Management states that existing cash resources are expected to fund operations for at least 12 months while it advances AAV-based gene therapy programs and ophthalmic collaborations, including ongoing revenue from the Viatris license.

Opus Genetics reported second-quarter 2026 license and collaborations revenue of $0.8 million, down from $2.9 million a year earlier. Research and development expenses rose to $11.2 million and general and administrative expenses were $6.0 million, leading to a loss from operations of $16.5 million. After a $7.2 million fair value gain on instruments and $1.7 million of other income, net loss was $8.1 million, or ($0.08) basic and ($0.14) diluted per share.

As of June 30, 2026, cash and cash equivalents were $88.8 million, compared with $45.1 million at year-end 2025. With this balance and potential future fundings under its Oberland Capital note purchase agreement, the company expects its cash resources to fund operations into 2029. Total liabilities were $106.0 million, including $34.9 million of long-term debt and $62.1 million of warrant liabilities, contributing to stockholders’ equity of $(13.0) million.

Clinically, Opus completed enrollment in Cohort 1 of its OPGx-BEST1 Phase 1/2 trial, with 3‑month topline data targeted for the second week of September 2026. Enrollment is also complete in the registrational OPGx-LCA5 Phase 3 trial, with dosing expected in the fourth quarter of 2026 and topline data anticipated by the end of 2027. Additional gene therapy programs targeting RDH12, MERTK and RHO are expected to enter clinical testing between late 2026 and the second half of 2027.

Opus Genetics, Inc. director and President Benjamin R. Yerxa reported an automatic sale of 7,429 shares of Common Stock on July 23, 2026 at $2.97 per share. The shares were automatically sold on his behalf, as required by the company, to satisfy tax withholding from a restricted stock unit vesting and settlement event, and the sale is described as not representing a discretionary trade. After this transaction, he directly holds 704,106 shares of Common Stock.

Opus Genetics, Inc. reported that its Chief Operating Officer, Joseph K. Schachle, had 4,644 shares of common stock sold on July 23, 2026 at $2.94 per share. The shares were sold automatically to satisfy tax withholding obligations from a restricted stock unit vesting and were not a discretionary trade. Following this transaction, Schachle directly held 291,440 shares of Opus Genetics common stock.

Opus Genetics, Inc. Chief Executive Officer George Magrath reported an automatic sale of 9,475 shares of common stock on July 23, 2026 to satisfy tax withholding obligations arising from a restricted stock unit vesting. The shares were sold at a weighted average price of $2.9473, within a $2.9009–$3.025 range, leaving 1,731,869 directly held shares after the transaction. The sale did not represent a discretionary trade by the reporting person, and the Rule 10b5‑1 trading plan checkbox for the filing was not selected.