Opus Genetics reports strong financial results, progresses with gene therapy candidates

From GlobeNewswire: 2025-03-31 08:20:00

Opus Genetics, Inc. reports strong financial results with a $21.5 million financing boost to supplement a $30.3 million year-end balance. The company is focused on advancing key milestones for its lead gene therapy candidates, OPGx-LCA5 and OPGx-BEST1, to treat inherited retinal diseases. Exciting progress is expected in 2025.

The acquisition of Opus Genetics Inc. in October 2024 has expanded Opus Genetics, Inc.’s pipeline with seven gene therapy assets targeting inherited retinal diseases. The company raised $20 million in a recent public offering led by Perceptive Advisors and Nantahala Capital, increasing total cash resources to approximately $50.7 million. Up to $21.4 million in further proceeds may be realized.

Opus Genetics’ most advanced gene therapy candidate, OPGx-LCA5, has shown positive clinical proof-of-concept in adult patients with Leber congenital amaurosis 5 (LCA5). Promising one-year data supports visual improvement. A Phase 1/2 trial is ongoing, with enrollment of the first pediatric patient in 2025. Plans are underway for a Phase 1/2 trial of OPGx-BEST1 for best disease-associated IRDs.

The LYNX-2 pivotal Phase 3 trial for Phentolamine Ophthalmic Solution 0.75% has completed enrollment for treating decreased vision under low light conditions following keratorefractive surgery. Fast Track designation from the FDA has been granted for this treatment. Topline data from the VEGA-3 trial for presbyopia are expected in the first half of 2025. Further details can be found in Opus Genetics, Inc.’s financial report for the full year ended December 31, 2024.



Read more at GlobeNewswire:: Opus Genetics Announces Financial Results for Full Year