RESEARCH TRIANGLE PARK, N.C., July 03, 2025 (GLOBE NEWSWIRE) -- Opus Genetics, Inc. (Nasdaq: IRD), a clinical-stage biopharmaceutical company developing gene therapies for the treatment of inherited retinal diseases (IRDs) and small molecule therapies for other ophthalmic disorders (the "Company"), today announced that, on June 30, 2025, it granted equity awards to two new non-executive employees as a material inducement to employment. The equity awards were granted under the Company's 2021 Inducement Plan, as amended, and were approved by the Compensation Committee of the Company's Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4).
The equity awards consisted of stock options to purchase an aggregate of 240,000 shares of the Company's common stock and 150,000 restricted stock units ("RSUs"). The stock options have an exercise price of $0.94, which is equal to the closing price of the Company's common stock on the grant date of June 30, 2025. The options vest over a period of four years, with 25% vesting on the one-year anniversary of the grant date and the remaining 75% vesting in equal quarterly installments at the end of each quarter thereafter. The RSUs vest in four equal installments on the first, second, third and fourth anniversary of the grant date. All equity awards are subject to the employees' continued employment with the Company on the applicable vesting dates.
About Opus Genetics
The Company is a clinical-stage biopharmaceutical company developing gene and small molecule therapies for vision-threatening eye diseases. The Company's pipeline features AAV-based gene therapies targeting inherited retinal diseases including Leber congenital amaurosis (LCA), bestrophinopathy, and retinitis pigmentosa. Its lead candidate, OPGx-LCA5, is in a Phase 1/2 trial for LCA5-related mutations and has shown encouraging early results. Additional programs include OPGx-BEST1, a gene therapy targeting BEST1-related retinal degeneration and a Phase 3-ready small molecule therapy for diabetic retinopathy, developed under a Special Protocol Assessment with the FDA. The Company is also advancing Phentolamine Ophthalmic Solution 0.75%, a partnered therapy currently approved in one indication and is being studied in two Phase 3 programs for presbyopia and dim light vision disturbances. The Company is based in Research Triangle Park, NC. For more information, visit www.opusgtx.com.
Contacts
Investors
Jenny Kobin
Remy Bernarda
IR Advisory Solutions
ir@opusgtx.com
Media
Kimberly Ha
KKH Advisors
917-291-5744
kimberly.ha@kkhadvisors.com
Source: Opus Genetics, Inc.
