Opus Genetics (IRD) investor files exit 13D after stake falls under 5%

Rhea-AI Filing Summary

Foundation Fighting Blindness Retinal Degeneration Fund and Foundation Fighting Blindness, Inc. filed Amendment No. 3 to their Schedule 13D for Opus Genetics, Inc. The filing reflects a reduced position of 3,792,171 shares of common stock, representing 4.66% of the company’s outstanding shares.

This change results from selling Opus Genetics common stock on May 18, 2026. Based on 81,395,539 shares outstanding as of May 7, 2026, the reporting persons now hold less than five percent and characterize this amendment as an exit filing ending their Schedule 13D reporting obligations.

Key Figures

Beneficial ownership: 3,792,171 shares Ownership percentage: 4.66% Shares outstanding: 81,395,539 shares +2 more

5 metrics

Beneficial ownership 3,792,171 shares Foundation Fighting Blindness entities’ Opus Genetics common stock

Ownership percentage 4.66% Percent of Opus Genetics common stock class represented

Shares outstanding 81,395,539 shares Opus Genetics common stock outstanding as of May 7, 2026

Event date May 18, 2026 Date of share sale that changed beneficial ownership

Amendment number Amendment No. 3 Latest amendment to Schedule 13D for Opus Genetics

Key Terms

beneficial ownership, Schedule 13D, Agreement and Plan of Merger, Series A Non-Voting Convertible Preferred Stock, +1 more

5 terms

beneficial ownership financial

"This Amendment No. 3 on is being filed to show the change in percentage of beneficial ownership held by the Reporting Persons"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Schedule 13D regulatory

"This Amendment No. 3 on amends the statement on , dated October 29, 2024, which relates to the Common Stock of the Issuer, filed by the Reporting Persons."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

Agreement and Plan of Merger regulatory

"Exhibit 1 - Agreement and Plan of Merger, dated October 22, 2024, by an among Ocuphire Pharma, Inc., Orange Merger Sub I, Inc., Orange Merger Sub II, LLC, and Opus Genetics Inc."

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

Series A Non-Voting Convertible Preferred Stock financial

"Exhibit 2 - Certificate of Designations of the Series A Non-Voting Convertible Preferred Stock"

Series A non-voting convertible preferred stock is an early-round ownership share that gives holders priority over common shareholders for payouts and protections, but does not grant voting control. It can be exchanged later for common shares—like a coupon that can be turned into regular stock—allowing investors to share in upside while limiting immediate influence on company decisions; this affects potential returns, dilution for other shareholders, and the balance of control in future financing or sale events.

Registration Rights Agreement regulatory

"Exhibit 4 - Form of Registration Rights Agreement (included as Exhibit F to the Agreement and Plan of Merger)"

A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Opus Genetics, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

67577R102

(CUSIP Number)

Russell Kelley, Managing Dir.
Foundation Fighting Blindness RD Fund, 223 S. West Street, Suite 900
Raleigh, NC, 27603
(919) 610-2064

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/18/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 67577R102

1

Name of reporting person

Foundation Fighting Blindness Retinal Degeneration Fund

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,792,171.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,792,171.00

11

Aggregate amount beneficially owned by each reporting person

3,792,171.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.66 %

14

Type of Reporting Person (See Instructions)

CO, OO

Comment for Type of Reporting Person:

Percent of class represented in Row (11) is based on 81,395,539 shares of common stock, $0.0001 par value per share (the "Common Stock") of Opus Genetics, Inc., a Delaware corporation (the "Issuer") outstanding as of May 7, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on May 12, 2026.

SCHEDULE 13D

CUSIP Number(s): 67577R102

1

Name of reporting person

Foundation Fighting Blindness, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,792,171.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,792,171.00

11

Aggregate amount beneficially owned by each reporting person

3,792,171.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.66 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Percent of class represented in Row (11) is based on 81,395,539 shares of the Issuer's Common Stock outstanding as of May 7, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 12, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.0001 par value per share
(b)	Name of Issuer: Opus Genetics, Inc.
(c)	Address of Issuer's Principal Executive Offices: 8 Davis Drive, Suite 220, Durham, NORTH CAROLINA , 27713.
Item 1 Comment: This Amendment No. 3 on Schedule 13D amends the statement on Schedule 13D, dated October 29, 2024, which was amended on Schedule 13D/A dated March 6, 2025 and December 11, 2025, which relates to the Common Stock of the Issuer, filed by the Reporting Persons. This Amendment No. 3 on Schedule 13D is being filed to show the change in percentage of beneficial ownership held by the Reporting Persons as a result of selling shares of the Issuer's Common Stock on May 18, 2026. Upon the closing of this transaction contemplated, the Reporting Persons will cease to be the beneficial owner of more than five percent of the Issuer's Common Stock. Accordingly, the Reporting Persons expect that this will be the final amendment to their Schedule 13D and constitutes an "exit filing" to terminate the Reporting Persons' reporting obligations under Section 13(d) of the Exchange Act upon such closing.
Item 5.	Interest in Securities of the Issuer
(a)	3,792,171 - 4.66%
(b)	3,792,171
(c)	Reference is made to the Form 4 filed by the Reporting Persons on May 20, 2026 with the SEC pursuant to Section 16 of the Act and is available on the SEC's website at www.sec.gov. The information reported in the filings are expressly incorporated herein.
(e)	Not Applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 1 - Agreement and Plan of Merger, dated October 22, 2024, by an among Ocuphire Pharma, Inc., Orange Merger Sub I, Inc., Orange Merger Sub II, LLC, and Opus Genetics Inc. (incorporated by reference to Exhibit 2.1 of the Issuer's Current Report on Form 8-K filed with the SEC on October 22, 2024). Exhibit 2 - Certificate of Designations of the Series A Non-Voting Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 of the Issuer's Current Report on Form 8-K filed with the SEC on October 22, 2024). Exhibit 3 - Form of Lock-Up Agreement (included as Exhibit B to the Agreement and Plan of Merger filed as Exhibit 2.1 to the Issuer's current report on Form 8-K as filed with the SEC on October 22, 2024 and incorporated herein by reference). Exhibit 4 - Form of Registration Rights Agreement (included as Exhibit F to the Agreement and Plan of Merger filed as Exhibit 2.1 to the Issuer's current report on Form 8-K as filed with the SEC on October 22, 2024 and incorporated herein by reference). Exhibit 5 - Joint Filing Agreement by and between the Reporting Persons (incorporated by reference to Exhibit 5 to the Reporting Persons' Schedule 13D/A as filed with the SEC on May 6, 2025).

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Foundation Fighting Blindness Retinal Degeneration Fund

Signature:	/s/ Russell Kelley
Name/Title:	Russell Kelley, Managing Director
Date:	05/20/2026

Foundation Fighting Blindness, Inc.

Signature:	/s/ Jason Menzo
Name/Title:	Jason Menzo, Chief Executive Officer
Date:	05/20/2026

FAQ

What does the latest Schedule 13D/A filing reveal about IRD’s Opus Genetics stake?

The filing shows Foundation Fighting Blindness entities now beneficially own 3,792,171 Opus Genetics shares, or 4.66% of outstanding common stock. This follows share sales on May 18, 2026, reducing their holdings below the 5% reporting threshold.

Why is this Schedule 13D/A amendment considered an exit filing for IRD?

It is an exit filing because the reporting persons’ beneficial ownership in Opus Genetics fell below 5%, to 4.66%. Once below this threshold, they no longer have ongoing Schedule 13D reporting obligations for this position, absent future increases above 5%.

How many Opus Genetics shares are outstanding according to the IRD-related filing?

The filing states there are 81,395,539 Opus Genetics common shares outstanding as of May 7, 2026. This figure comes from the company’s Form 10-Q filed on May 12, 2026 and is used to calculate the 4.66% ownership percentage.

Which entities associated with IRD are the reporting persons in this Schedule 13D/A?

The reporting persons are Foundation Fighting Blindness Retinal Degeneration Fund and Foundation Fighting Blindness, Inc. Both report shared voting and dispositive power over 3,792,171 Opus Genetics common shares, reflecting coordinated beneficial ownership of the same block.

What transaction triggered the updated beneficial ownership for IRD in Opus Genetics?

The updated ownership stems from selling Opus Genetics common stock on May 18, 2026. These sales reduced the reporting persons’ holdings to 3,792,171 shares. A related Form 4 filed on May 20, 2026 provides additional transaction details and is incorporated by reference.