Opus Genetics, Inc. ownership disclosure: Caligan Partners LP and David Johnson report beneficial ownership of 6,075,028 shares of common stock, representing 8.5% of the class. The percentage is calculated using 71,402,472 shares outstanding as of 03/31/2026, per cited filings.
The Schedule 13G names Caligan as the investment manager to certain funds and Mr. Johnson as Managing Partner; both signed the filing on 05/15/2026.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed by an investment manager and its principal.
Caligan Partners LP and David Johnson together report 6,075,028 shares or 8.5% of outstanding common stock, a holding disclosed on a Schedule 13G. The filing identifies shared voting and dispositive power over these shares.
Such a position can create influence over corporate governance depending on engagement strategy; subsequent filings or 13D/13G amendments would clarify intent or changes in ownership.
Material >5% holder now visible to the market.
The filing cites 71,402,472 shares outstanding as of 03/31/2026 as the basis for the 8.5% figure. The disclosure helps quantify potential shareholder composition and voting dynamics ahead of any corporate actions.
Future updates or disclosures may show whether holdings change; cash‑flow treatment is not detailed in the excerpt.
Key Figures
Beneficial ownership:6,075,028 sharesPercent of class:8.5%Shares outstanding:71,402,472 shares+2 more
5 metrics
Beneficial ownership6,075,028 sharesAmount reported by Caligan Partners/ David Johnson
Percent of class8.5%Calculated using outstanding shares as of 03/31/2026
Shares outstanding71,402,472 sharesOutstanding shares used to compute percentage as of <date>03/31/2026</date>
Cover CUSIP67577R102Opus Genetics common stock CUSIP
Filing signature date05/15/2026Date signatures on Schedule 13G were executed
Key Terms
Schedule 13G, beneficial ownership, shared dispositive power, shared voting power
4 terms
Schedule 13Gregulatory
"This statement is filed by: Caligan Partners LP and David Johnson"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
beneficial ownershipregulatory
"Amount beneficially owned: The information required by Item 4(a)"
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.
shared dispositive powerregulatory
"Shared Dispositive Power 6,075,028.00"
shared voting powerregulatory
"Shared Voting Power 6,075,028.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Opus Genetics, Inc.
(Name of Issuer)
Common Stock, $0.0001 par value per share
(Title of Class of Securities)
67577R102
(CUSIP Number)
03/31/2026
(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
Caligan Partners LP
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
6,075,028.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,075,028.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,075,028.00
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)
8.5 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
67577R102
1
Names of Reporting Persons
JOHNSON DAVID EDWARD
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
6,075,028.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,075,028.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,075,028.00
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)
8.5 %
12
Type of Reporting Person (See Instructions)
HC, IN
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, NORTH CAROLINA, 27713.
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Caligan Partners LP, a Delaware limited partnership ("Caligan"), which serves indirectly as the investment manager to certain funds and accounts (the "Caligan Funds and Accounts"), with respect to the shares of common stock, $0.0001 par value per share ("Common Stock") of Opus Genetics, Inc., a Delaware corporation (the "Company"), held by the Caligan Funds and Accounts; and
(ii) David Johnson, the Managing Partner of Caligan and Managing Member of Caligan Partners GP LLC, the general partner of Caligan ("Mr. Johnson"), with respect to the shares of Common Stock held by the Caligan Funds and Accounts.
Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons."
(b)
Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is 780 Third Avenue, 30th Floor, New York, NY 10017.
(c)
Citizenship:
Caligan is a Delaware limited partnership. Mr. Johnson is a United States citizen.
(d)
Title of class of securities:
Common Stock, $0.0001 par value per share
(e)
CUSIP Number(s):
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 Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentages set forth in this Schedule 13G are calculated based upon an aggregate of 71,402,472 shares of Common Stock outstanding as of March 31, 2026, as reported in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2026, and the Company's Registration Statement on Form S-3 filed with the Securities and Exchange Commission on April 21, 2026.
(b)
Percent of class:
8.5%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
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.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a).
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 acquired and are held in the ordinary course of business and 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.
What stake does Caligan Partners report in Opus Genetics (IRD)?
Caligan Partners and David Johnson report beneficial ownership of 6,075,028 shares, equal to 8.5% of the class. This percentage is calculated using 71,402,472 shares outstanding as of 03/31/2026.
Does the Schedule 13G for IRD indicate voting or dispositive power?
Yes. The filing shows shared voting power and shared dispositive power over the 6,075,028 shares, rather than sole control, as shown on the cover page rows referenced in the filing.
When is the outstanding share count used to compute the 8.5% for IRD?
The percentage is based on an aggregate of 71,402,472 shares outstanding as of 03/31/2026, per the company’s cited Form 8‑K and Form S‑3 referenced in the Schedule 13G filing.
Who filed the Schedule 13G for Opus Genetics (IRD)?
The statement was filed by Caligan Partners LP (as investment manager) and David Johnson (Managing Partner). Both signatures are dated 05/15/2026 on the filing excerpt provided.
Does this Schedule 13G indicate activist intent for IRD?
No intent is stated in the excerpt. The Schedule 13G discloses a beneficial ownership position of 8.5%; further filings (e.g., 13D amendments) would be required to show activist or control intent.
