Opus Genetics, Inc. (IRD)
Opus Genetics, Inc. is a clinical-stage biopharmaceutical company focused on ophthalmology. The company is dedicated to discovering and commercializing innovative therapies to address significant unmet medical needs in patients suffering from refractive and retinal eye disorders. Its portfolio includes Phentolamine Ophthalmic Solution, currently used to reverse pharmacologically induced mydriasis (pupil dilation). This solution is also advancing through Phase III clinical trials for the treatment of presbyopia and impaired vision in dim light or at night. A leading candidate in its retinal pipeline is APX3330, a small-molecule inhibitor targeting the reduction oxidation effector factor-1 protein. APX3330 has successfully completed Phase II clinical trials for diabetic retinopathy. Furthermore, Opus Genetics is developing APX2009 and APX2014, two preclinical product candidates also aimed at various retinal indications. Originally founded in 2018 as Ocuphire Pharma, Inc., the company maintains its headquarters in Farmington Hills, Michigan.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Opus Genetics, Inc.
NASDAQ:IRDHealthcare · Biotechnology
+0.55%$3.67
AH$3.68+0.27%vs close
Mkt Cap$305.33M
Float62.26M
O/S83.2M
Vol
$ Vol
RVOL
Inst Own69.1%
SI21.4%
Earnings
Dilution
Financials Summary
Revenue$14.2M
Net Income-$49.59M
Total Assets$50.24M
Free Cash Flow-$35.25M
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$15.35M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in IRD's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$50.24M
Liabilities$34.9M
Accounts Receivable$3.17M
Accounts Payable$3.29M
Inventory$0
PP&E (Net)$199K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $14.2M | $10.99M | $19.05M | $39.85M | $589K | $0 | $0 |
| YoY Growth | 29.1% | -42.3% | -52.2% | 6665.7% | - | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $14.2M | $10.99M | $19.05M | $39.85M | $589K | $0 | $0 |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | - | - |
| Research and Development | $30.81M | $26.85M | $17.65M | $14.36M | $15.17M | $6.65M | $2.37M |
| Selling, General, and Administrative | $21.98M | $18.21M | $11.96M | $7.27M | $8.12M | $2.82M | $1.82M |
| Other | $0 | $28M | $0 | $0 | $0 | $10.5M | $0 |
| Total Operating Expenses | $52.8M | $73.07M | $29.61M | $21.62M | $23.29M | $19.97M | $4.19M |
| Operating Income (EBIT) | -$38.6M | -$62.07M | -$10.56M | $18.23M | -$22.7M | -$19.97M | -$4.19M |
| Operating Margin | -271.9% | -564.7% | -55.5% | 45.7% | -3854.8% | - | - |
| Interest Expense | $1.47M | $0 | $1.33M | $9K | $2K | $6.85M | $1.41M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$10.99M | $4.54M | $589K | -$23K | -$33.99M | -$4.65M | -$1.98M |
| Income Before Tax (EBT) | -$49.59M | -$57.53M | -$9.97M | $18.2M | -$56.69M | -$24.62M | -$6.17M |
| Income Tax Expense | $0 | $0 | $12K | $315K | $0 | $0 | $0 |
| Net Income | -$49.59M | -$57.53M | -$9.99M | $17.89M | -$56.69M | -$24.62M | -$6.17M |
| Net Income Margin | -349.3% | -523.4% | -52.4% | 44.9% | -9625.3% | - | - |
| Supplementary Data | |||||||
| EPS | -0.80 | -2.15 | -0.46 | 0.90 | -3.82 | -5.28 | -0.87 |
| Diluted EPS | -0.80 | -2.15 | -0.46 | 0.87 | -3.82 | -5.28 | -0.87 |
| Weighted Average OS | 622.22M | 26.72M | 21.59M | 19.93M | 14.85M | 4.66M | 7.09M |
| EBITDA | -$48.07M | -$57.52M | -$9.97M | $18.22M | -$56.69M | -$17.77M | -$4.76M |
| EBITDA Margin | -338.6% | -523.3% | -52.3% | 45.7% | -9624.3% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $45.09M | $30.32M | $50.5M | $42.63M | $24.53M | $16.4M | $1.54M |
| Short-Term Investments | $0 | $2K | $15K | $49K | $219K | $0 | $0 |
| Cash and Short-Term Investments | $45.09M | $30.32M | $50.52M | $42.68M | $24.75M | $16.4M | $1.54M |
| Accounts Receivable | $3.17M | $5.77M | $2.33M | $4.85M | $0 | $0 | $125K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $1.79M | $515K | $102K | $80K | $71K | $26K | $81K |
| Total Current Assets | $50.04M | $36.61M | $53.95M | $48.99M | $26.07M | $17.67M | $1.76M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $199K | $252K | $0 | $6K | $10K | $14K | $22K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $199K | $252K | $0 | $6K | $10K | $14K | $22K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $50.24M | $36.86M | $53.95M | $48.99M | $26.08M | $17.68M | $1.78M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $3.29M | $3.15M | $2.15M | $1.07M | $1.58M | $1.21M | $342K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $538K | $0 | $5.67M |
| Current Income Tax Payable | $0 | $0 | $0 | $315K | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $4.49M | $2K | $74K | $0 | $0 | $0 | $2.71M |
| Total Current Liabilities | $7.78M | $11.29M | $4.04M | $2.75M | $3.85M | $3.19M | $9.34M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $27.11M | $18.84M | $0 | $0 | $0 | $27.96M | $0 |
| Total Long-Term Liabilities | $27.11M | $18.84M | $0 | $0 | $0 | $27.96M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $34.9M | $30.14M | $4.04M | $2.75M | $3.85M | $31.15M | $9.34M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $7K | $3K | $2K | $2K | $2K | $1K | $0 |
| Retained Earnings | -$188.59M | -$139M | -$81.47M | -$71.48M | -$89.37M | -$32.67M | -$8.05M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $203.93M | $145.72M | $131.37M | $117.72M | $111.59M | $19.21M | $495K |
| Total Equity | $15.35M | $6.72M | $49.91M | $46.24M | $22.22M | -$13.47M | -$7.56M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $50.24M | $36.86M | $53.95M | $48.99M | $26.08M | $17.68M | $1.78M |
| Supplementary Data | |||||||
| Total Debt | $0 | $0 | $0 | $0 | $538K | $0 | $5.67M |
| Net Debt | -$45.09M | -$30.32M | -$50.5M | -$42.63M | -$24M | -$16.4M | $4.13M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$49.59M | -$57.53M | -$9.99M | $17.89M | -$56.69M | -$24.62M | -$6.17M |
| Depreciation & Amortization | $53K | $10K | $6K | $4K | $4K | $8K | $3K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $3.4M | $3.36M | $3.51M | $1.81M | $1.91M | $1.51M | $308K |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $2.61M | -$3.44M | $2.52M | -$4.85M | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $7K | $220K | $1.08M | -$515K | $381K | $792K | -$168K |
| Other Working Capital | -$4.77M | $6.31M | $477K | -$190K | -$200K | $354K | $525K |
| Total Working Capital Change | -$2.15M | $3.09M | $4.08M | -$5.55M | $181K | $1.15M | $357K |
| Other Non-Cash Items | $13.04M | $25.49M | $1.28M | $170K | $35.22M | $15.16M | $1.91M |
| Net Cash from Operating | -$35.25M | -$25.58M | -$1.11M | $14.31M | -$19.37M | -$6.8M | -$3.59M |
| Investing Activities | |||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | -$25K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $1.21M | $0 | $0 | -$100K | $539K | $0 |
| Net Cash from Investing | $0 | $1.21M | $0 | $0 | -$100K | $539K | -$25K |
| Financing Activities | |||||||
| Debt Repaid | -$1M | - | - | - | - | -$2.2M | -$4.38M |
| Common Stock Issuance | $49.17M | $4.5M | $9.23M | $4.43M | $28.49M | $21.15M | $0 |
| Common Stock Repurchases | -$152K | -$79K | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$232K | -$248K | -$104K | -$1.42M | -$2.23M | -$2K |
| Net Cash from Financing | $50.02M | $4.19M | $8.98M | $3.79M | $27.61M | $21.12M | $4.7M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $14.77M | -$20.18M | $7.87M | $18.1M | $8.13M | $14.86M | $1.09M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$35.25M | -$25.58M | -$1.11M | $14.31M | -$19.37M | -$6.8M | -$3.59M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | -$25K |
| Free Cash Flow | -$35.25M | -$25.58M | -$1.11M | $14.31M | -$19.37M | -$6.8M | -$3.62M |
| Cash at Beginning | $30.32M | $50.5M | $42.63M | $24.53M | $16.4M | $1.54M | $451K |
| Cash at End | $45.09M | $30.32M | $50.5M | $42.63M | $24.53M | $16.4M | $1.54M |