Opus Genetics 2025 Q3 Earnings Sustained Losses Amid Pipeline Advancements

Opus Genetics (IRD) reported third-quarter 2025 results on November 13, 2025, showing a net loss of $17.45 million, or $0.25 per share, compared to a $7.53 million loss a year earlier. Revenue declined 20.4% to $3.08 million, in line with estimates. The company emphasized progress in its gene therapy pipeline, including the first patient dosed in the OPGx-BEST1 trial for Best disease and positive data from the OPGx-LCA5 program.

Revenue

License and collaborations revenue totaled $3.08 million in Q3 2025, down from $3.87 million in the prior-year period. The decline was attributed to reduced research and development services under its collaboration with Viatris, Inc. Despite the drop, the company highlighted ongoing partnerships as a key revenue driver.

Earnings/Net Income

The net loss widened by 131.9% to $17.45 million, driven by fair-value adjustments to derivative liabilities and higher general and administrative expenses. While the per-share loss improved slightly from $0.29 to $0.25, the company has reported losses for the past decade in this quarter, underscoring persistent financial challenges.

CEO Commentary

George Magrath, CEO of Opus Genetics, emphasized the company’s focus on advancing its pipeline despite financial headwinds. “We have taken critical steps in advancing our pipeline, including positive data from the OPGx-LCA5 trial and opening recruitment for the OPGx-BEST1 program,” Magrath stated. He reiterated confidence in the long-term potential of its gene therapy platform, noting that recent milestones, such as the FDA RMAT meeting for OPGx-LCA5, could accelerate regulatory pathways.

Guidance

The company expects to continue prioritizing R&D investments, particularly in its lead programs for inherited retinal diseases. While it did not provide explicit revenue targets, Opus Genetics stated that its $50.8 million cash position, bolstered by a recent $23 million equity offering, will fund operations through mid-2027. Management also highlighted the importance of near-term data readouts from the OPGx-BEST1 and OPGx-LCA5 trials in shaping future guidance.

Post-Earnings Price Action Review

Following the earnings release, Opus Genetics’ stock price showed mixed performance. While the shares closed flat on the day, they declined 9.43% over the preceding week and 4.00% month-to-date. Analysts noted that the market’s reaction balanced the company’s clinical progress against its ongoing financial losses. The Zacks Rank for the stock remains at #3 (Hold), reflecting a neutral outlook as investors await further data from clinical trials and regulatory updates.

Additional News

Opus Genetics announced the first patient dosed in its OPGx-BEST1 Phase 1/2 trial for Best disease, marking a significant milestone in its gene therapy portfolio. The company also plans to submit a supplemental New Drug Application for Phentolamine Ophthalmic Solution by year-end 2025. Additionally, it secured $23 million in financing through a registered direct offering, extending its cash runway into 2027. These developments underscore the company’s dual focus on therapeutic innovation and financial stability.

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