Opus Genetics, Inc. (IRD) Form 10-Q — Aug 6, 2026

$IRDForm 10-QFiled Aug 6, 2026, 4:32 PM ET0001628280-26-054381Original filing

Opus Genetics' Q2 2026 10-Q shows cash and cash equivalents of $88.8 million at June 30, 2026, more than double the $45.1 million at year-end 2025, lifted by $40.0 million in gross proceeds from an Oberland Capital note-and-stock financing, a $25.0 million Series B preferred private placement, and $2.3 million of ATM sales. Management states available cash is sufficient to fund operations for at least the next 12 months. The six-month net loss widened to $73.6 million from $15.6 million a year ago, driven mostly by a $44.2 million non-cash fair-value loss on warrant and note liabilities as the stock rose from $2.01 to $4.11; the Q2 net loss of $8.1 million was roughly flat year over year.

Key figures

Eps: -$0.08 basic / -$0.14 diluted (Q2 2026); -$0.81 (six months 2026)
Revenue: $2.912M (six months ended June 30, 2026); $0.755M (Q2 2026)
Net Income: -$8.098M (Q2 2026); -$73.633M (six months 2026)
Total Debt: $34.932M (Notes at fair value; $35.281M contractual principal incl. PIK interest)
Debt Amount: $35.0M initial tranche funded April 21, 2026; facility of up to $155.0M ($105.0M committed)
Revenue Yoy: -59.8% (six months YoY); -73.8% (Q2 YoY)
Total Assets: $92.968M
Cash Position: $88.8M at June 30, 2026 (vs $45.1M at Dec 31, 2025)
Interest Rate: Term SOFR (3.68% floor) plus Applicable Margin; 50% of interest paid-in-kind for first eight interest payment dates
Maturity Date: April 21, 2033
Shares Outstanding: 83195823
Q2 net loss: -$8.098M
Atm gross q2 2026: $2.3M (1,000,000 shares)
Total liabilities: $105.954M
Accumulated deficit: $262.222M
Warrant liabilities: $62.145M
Stockholders deficit: -$12.986M
Stock price dec 31 2025: $2.01
Stock price jun 30 2026: $4.11
Authorized common shares: 250000000
Rdf effective interest rate: 24.2%
Six month operating cash use: -$24.677M
Purchase and conversion gross: $5.0M (1,116,070 shares at $4.48)
Pre funded warrants outstanding: 16009928
Aggregate notes plus stock gross: $40.0M
Series b private placement gross: $25.0M (7,374,632 shares at $3.39)
Fair value loss on instruments 6m: -$44.190M
Liability classified warrants outstanding: 19616292

Price after filing

1 day: +1.9%7 days: +4.6%30 days: +25.9%

Close on the filing date to close N calendar days later (from $3.71). Historical, not a forecast.

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