Opus Genetics, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 10, 2026, reporting financial results for both the three and nine months ended September 30, 2026.

Key Highlights

  • Net loss of $120.128 million for the nine months ended September 30, 2026, compared to $33.068 million for the same period in 2025, according to the filing.
  • Third-quarter net loss of $46.495 million on license and collaborations revenue of $1.137 million for the three months ended September 30, 2026.
  • Cash and cash equivalents of $88.974 million as of September 30, 2026, up from $45.091 million at December 31, 2025.
  • Total assets of $95.295 million as of September 30, 2026, against total liabilities of $56.864 million, leaving total stockholders' equity of $38.431 million.
  • Common shares outstanding increased to 95,799,574 at September 30, 2026, from 69,894,507 at December 31, 2025, reflecting warrant exercises and other issuances during the period.
  • Long-term debt of $34.530 million appeared on the balance sheet as of September 30, 2026, compared to zero at December 31, 2025.
  • Fair value change in instruments measured at fair value contributed a loss of $72.800 million for the nine months ended September 30, 2026, per the filing.

Opus Genetics Financial Results: Nine Months Ended September 30, 2026

According to the filing, Opus Genetics reported license and collaborations revenue of $4.049 million for the nine months ended September 30, 2026, down from $10.331 million in the comparable prior-year period. Total operating expenses rose to $54.140 million for the nine-month period, compared to $37.477 million in 2025, with research and development expenses of $36.278 million and general and administrative expenses of $17.862 million. Loss from operations for the nine months was $(50.091) million.

The filing disclosed that a fair value change in instruments measured at fair value amounted to a loss of $(72.800) million for the nine months ended September 30, 2026, a significant increase from the $(5.803) million recorded in the same period of 2025. Other income, net, was $3.876 million for the nine-month period. The company reported no income tax benefit or provision for either period. Basic and diluted net loss per share was $(1.27) for the nine months ended September 30, 2026, compared to $(0.59) for the nine months ended September 30, 2025, based on weighted-average shares of 94,793,509 and 56,100,689, respectively.

On the balance sheet, the company disclosed warrant liabilities of $11.151 million as of September 30, 2026, down from $25.985 million at December 31, 2025. The accumulated deficit reached $308.717 million at September 30, 2026, versus $188.589 million at year-end 2025. The filing noted that as of November 6, 2026, there were 96,654,336 shares of common stock outstanding. Opus Genetics trades on The Nasdaq Stock Market LLC under the symbol NASDAQ:IRD.

What Was Disclosed

Opus Genetics filed its quarterly report covering the period ended September 30, 2026, disclosing a nine-month net loss of $120.128 million, increased operating expenses, a rise in cash to $88.974 million, and the addition of $34.530 million in long-term debt not present at year-end 2025.