Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Opus Genetics, Inc. reported first quarter ended March 31, 2024 results: revenue $1.7 million, net income $7.1 million, EPS ($0.29).
- Period
- first quarter ended March 31, 2024
- Revenue
- $1.7 million
- Net income
- $7.1 million
- EPS
- ($0.29)
- Result
- reported results
Exact text from the filing
Financial Highlights for the First Quarter Ended March 31, 2024 As of March 31, 2024, Ocuphire had cash and cash equivalents of $47.2 million. Based on current projections, management believes that the cash on hand will be sufficient to fund operations into mid-2025. License and collaborations revenue was $1.7 million for first quarter ending March 31, 2024 compared with $1.7 million in the first quarter of 2023. Revenue during both quarterly periods was derived from the Viatris license agreement largely for the reimbursement of research and development services. During the first quarter of 2024 Ocuphire earned its first royalty payment in the amount of $3,000 stemming from the sale of RYZUMVI by Viatris in late March 2024. General and administrative expenses for the first quarter ended March 31, 2024 were $4.7 million , compared to $2.3 million for first quarter of 2023. The increase period over period was primarily attributable to increases in payroll related costs, stock-based compe
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