Opus Genetics Q3 net loss $17.5M; cash >$50M; LCA5 gene therapy gains FDA RMAT

Opus Genetics, Inc.

2025-Q3 EPS reported -$0.59 vs consensus -$0.13 ▼ miss (-349.4%)

Q3 net loss of $17.5M ($0.25/sh) vs $7.5M ($0.29/sh) in prior year; revenue $3.1M from Viatris collaboration.
Cash $30.8M at Sep 30; raised $23M post-quarter; total >$50M expected to fund into H2 2027.
Positive LCA5 data: 3-month pediatric and 18-month adult gains in cone-mediated vision; FDA RMAT meeting supports accelerated approval pathway.
BEST1 gene therapy trial recruiting; initial data Q1 2026. Phentolamine sNDA for presbyopia planned by year-end 2025.
Non-dilutive funding: $1.6M from RDH12 Alliance and $2M from Retinal Degeneration Fund for MERTK program.

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