Opus Genetics Inc
opusgtx.comWhat Do They Do?
Develops gene therapies for inherited retinal diseases and other treatments for ophthalmic disorders for patients with vision conditions.
10-K for FY2025, filed Mar 12, 2026
How Do They Make Money?
Partners pay for licenses to drug rights and research and development work; license fees can be upfront, service revenue follows the work, milestone payments depend on specified achievements, and royalties are tied to related product sales.
10-K for FY2025, filed Mar 12, 2026 8-K, filed Aug 6, 2026Licenses of intellectual property and research and development services: If the license to the Company’s intellectual property is…View ↗
Milestone payments: At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are…View ↗
Royalties: For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license…View ↗
Revenue: License and collaborations revenue totaled $0.8 million for the quarter ended June 30, 2026, compared to $2.9 million for the same…View ↗
$14.2M
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10-K for FY2025, filed Mar 12, 2026
$14.2M ↗
Who Are Their Customers?
Viatris is Opus's license and collaboration partner for phentolamine: it reimburses Opus for research and development services and is responsible for commercializing approved indications.
10-K for FY2025, filed Mar 12, 2026 8-K, filed Aug 6, 2026In November 2022, we entered into the Viatris License Agreement for the development and commercialization of all PS indications in the U.S.…View ↗
Revenue: License and collaborations revenue totaled $0.8 million for the quarter ended June 30, 2026, compared to $2.9 million for the same…View ↗
Do Revenues Turn Into Profits?
No. It lost $49.6M in FY2025.
10-K for FY2025, filed Mar 12, 2026
How Are They Changing?
Growing. Revenue grew 24.1x in 4 years, from $589K in FY2021 to $14.2M in FY2025, about 122% a year.
Gene therapy focus
Earlier reports focused on ophthalmic drug candidates for refractive and retinal disorders; the latest emphasizes gene therapies for inherited retinal diseases, while retaining phentolamine for other eye conditions.
10-K for FY2022, filed Mar 30, 2023 10-K for FY2025, filed Mar 12, 2026
Who Do They Compete With?
Competes with MeiraGTX, Octant Bio, Lenz Therapeutics, AbbVie, TenPoint Therapeutics, and Sandoz
10-K for FY2025, filed Mar 12, 2026While we are not currently aware of any direct competitors for our OPGx-LCA5 or OPGx-BEST1 gene therapy program, there are various…View ↗
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