Perceptive Advisors (IRD) caps Opus Genetics ownership at 9.99% through large warrant position

Rhea-AI Filing Summary

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.

Key Figures

Beneficially owned shares: 9,233,710 shares Ownership percentage: 9.99% Shares outstanding: 83,195,823 shares +4 more

7 metrics

Beneficially owned shares 9,233,710 shares Shares of Common Stock deemed beneficially owned through warrants as of this amendment

Ownership percentage 9.99% Reported beneficial ownership of Opus Genetics Common Stock for each reporting person

Shares outstanding 83,195,823 shares Opus Genetics Common Stock outstanding as of August 3, 2026

Pre-Funded Warrants size 13,617,584 shares at $0.0001 per share Pre-Funded Warrants held by the Master Fund

Common Warrants size 13,157,895 shares at $0.95 per share Common Warrants held by the Master Fund

Beneficial Ownership Limitation 9.99% Maximum beneficial ownership permitted after warrant exercises under warrant terms

Shared voting and dispositive power 9,233,710 shares Shares over which each reporting person has shared voting and dispositive power

Key Terms

Pre-Funded Warrants, Common Warrants, Beneficial Ownership Limitation, beneficially own, +2 more

6 terms

Pre-Funded Warrants financial

"The Master Fund directly holds (i) pre-funded warrants (the "Pre-Funded Warrants")"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

Common Warrants financial

"and (ii) common warrants (the "Common Warrants" and, together with the Pre-Funded"

A common warrant is a tradable instrument that gives its holder the right to buy a company’s common shares at a fixed price within a set time period, similar to a coupon that can be redeemed later to purchase stock. Investors care because exercising warrants can boost potential gains if the stock rises, but it can also dilute existing shareholders by increasing the number of shares outstanding, which can lower per-share value.

Beneficial Ownership Limitation regulatory

"subject to the Beneficial Ownership Limitation (as defined below), and (ii) common"

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

beneficially own regulatory

"would beneficially own, as determined in accordance with Section 13(d) of the"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Sole Voting Power financial

"5 | Sole Voting Power 0.00 6 | Shared Voting Power 9,233,710.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Shared Dispositive Power financial

"8 | Shared Dispositive Power 9,233,710.00"

FAQ

What ownership stake in Opus Genetics (IRD) is reported by Perceptive Advisors?

Perceptive Advisors, Joseph Edelman and the Master Fund report beneficial ownership of 9,233,710 shares of Opus Genetics Common Stock, representing 9.99% of shares outstanding as of August 3, 2026, based on the company’s Form 10-Q disclosure.

How does Perceptive Advisors’ Opus Genetics (IRD) position reach 9.99%?

The 9.99% interest reflects 9,233,710 shares deemed beneficially owned through warrants. This percentage is calculated against 83,195,823 shares of Common Stock outstanding as of August 3, 2026, as reported in Opus Genetics’ Form 10-Q.

What warrants linked to Opus Genetics (IRD) does Perceptive’s Master Fund hold?

The Master Fund holds Pre-Funded Warrants to buy 13,617,584 shares at $0.0001 per share and Common Warrants to buy 13,157,895 shares at $0.95 per share, all subject to a 9.99% Beneficial Ownership Limitation.

What is the Beneficial Ownership Limitation for Perceptive’s Opus Genetics (IRD) warrants?

The warrants include a Beneficial Ownership Limitation that prevents exercise if, after exercise, the reporting persons would own more than 9.99% of Opus Genetics’ outstanding Common Stock, as determined under Section 13(d) rules.

How many Opus Genetics (IRD) warrant shares can Perceptive currently exercise?

As of this amendment, the Beneficial Ownership Limitation allows the reporting persons to exercise warrants for up to 9,233,710 shares of Opus Genetics Common Stock. This is the amount currently counted as beneficially owned for reporting purposes.

Do Perceptive Advisors and Joseph Edelman directly hold Opus Genetics (IRD) shares?

Perceptive Advisors and Joseph Edelman do not directly hold Opus Genetics Common Stock. The Master Fund directly holds the Pre-Funded Warrants and Common Warrants, with Perceptive Advisors as investment manager and Mr. Edelman as managing member.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 05:20 PM Accepted by SEC EDGAR 08/14/2026 - 05:19 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

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)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 67577R102

1

Names of Reporting Persons

Perceptive Advisors LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,233,710.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,233,710.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,233,710.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 67577R102

1

Names of Reporting Persons

Joseph Edelman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,233,710.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,233,710.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,233,710.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 67577R102

1

Names of Reporting Persons

Perceptive Life Sciences Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,233,710.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,233,710.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,233,710.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Opus Genetics, Inc.
(b)	Address of issuer's principal executive offices: 8 Davis Drive, Suite 220, Durham, NC, 27713
Item 2.
(a)	Name of person filing: The names of the persons filing this report (collectively, the "Reporting Persons") with respect to shares of Common Stock, par value $0.0001 per share (the "Common Stock") of Opus Genetics, Inc. (the "Issuer") are: Perceptive Advisors LLC ("Perceptive Advisors") Joseph Edelman ("Mr. Edelman") Perceptive Life Sciences Master Fund, Ltd. ("Master Fund")
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is: 51 Astor Place, 10th Floor, New York, NY 10003
(c)	Citizenship: Perceptive Advisors is a Delaware limited liability company. Mr. Edelman is a United States citizen. The Master Fund is a Cayman Islands corporation.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 67577R102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover pages to this Schedule 13G. The ownership percentages reported are based on 83,195,823 shares of Common Stock outstanding as of August 3, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 6, 2026, and assume the exercise of Warrants (as defined below) held by the Reporting Persons for 9,233,710 shares of Common Stock. Neither Perceptive Advisors nor Mr. Edelman directly holds any shares of Common Stock. The Master Fund directly holds (i) pre-funded warrants (the "Pre-Funded Warrants") to purchase 13,617,584 shares of Common Stock at an exercise price of $0.0001 per share, subject to the Beneficial Ownership Limitation (as defined below), and (ii) common warrants (the "Common Warrants" and, together with the Pre-Funded Warrants, the "Warrants") to purchase 13,157,895 shares of Common Stock at an exercise price of $0.95 per share, subject to the Beneficial Ownership Limitation. The terms of the Warrants provide that the Warrants may not be exercised if, after such exercise, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, more than 9.99% of the shares of Common Stock then issued and outstanding (the "Beneficial Ownership Limitation"). As of the date hereof, the Beneficial Ownership Limitation permits the Reporting Persons to exercise Warrants for up to 9,233,710 shares of Common Stock. Perceptive Advisors serves as the investment manager of the Master Fund. Mr. Edelman is the managing member of Perceptive Advisors.
(b)	Percent of class: Perceptive Advisors: 9.99% Mr. Edelman: 9.99% Master Fund: 9.99%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0
	(ii) Shared power to vote or to direct the vote: Perceptive Advisors: 9,233,710 Mr. Edelman: 9,233,710 Master Fund: 9,233,710
	(iii) Sole power to dispose or to direct the disposition of: Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0
	(iv) Shared power to dispose or to direct the disposition of: Perceptive Advisors: 9,233,710 Mr. Edelman: 9,233,710 Master Fund: 9,233,710
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

Perceptive Advisors LLC

Signature:	/s/ Joseph Edelman
Name/Title:	Joseph Edelman, Managing Member
Date:	08/14/2026

Joseph Edelman

Signature:	/s/ Joseph Edelman
Name/Title:	Joseph Edelman
Date:	08/14/2026

Perceptive Life Sciences Master Fund, Ltd.

Signature:	/s/ Joseph Edelman
Name/Title:	Joseph Edelman, Managing Member
Date:	08/14/2026