Opus Genetics, Inc. (NASDAQ: IRD) shares lost some momentum Monday, as the company, a clinical-stage ophthalmic biopharmaceutical company developing important new therapies for the treatment of inherited retinal diseases (IRDs) and other ophthalmic disorders, today announced financial results for the full year ended December 31, 2024, and provided a corporate update.
“2024 marked a year of significant progress and change for the Company,” said CEO George Magrath, “We began the year with an uncertain future, with a lead asset that had failed to meet its primary endpoints in Phase 2 and another asset that had been fully out-licensed for commercialization. Given this portfolio, we took decisive action to position the Company to build additional value. Our transformative acquisition of privately held Opus Genetics in October strengthens our pipeline with a promising portfolio of gene therapy assets.”
“2025 is shaping up to be another exciting year,” Dr. Magrath continued. “We recently completed a public offering and concurrent private placement, raising $21.5 million in capital primarily from leading institutional healthcare investors who share our confidence in our strategic direction. This financing strengthens our balance sheet and provides the resources necessary to achieve key milestones in our IRD programs.”
IRD shares gave back four cents, or 4%, to 97 cents.
