Opus Genetics Raises $25M via $3.39 Series B Preferred Stock Placement
Opus Genetics will issue 7,374,632 Series B non-voting convertible preferred shares at $3.39 each for $25 million gross proceeds. Pro forma cash of $70 million is expected to fund operations into early 2028 and support clinical-stage gene therapies for inherited retinal diseases.
1. Financing Details
Opus Genetics has agreed to sell 7,374,632 shares of its Series B non-voting convertible preferred stock at $3.39 per share, generating $25 million in gross proceeds before expenses.
2. Cash Runway and Use of Proceeds
The company anticipates holding $70 million in pro forma cash at year-end 2025, which it expects will fund gene therapy clinical programs and general operations through the first half of 2028.
3. Conversion Mechanics
Each preferred share will automatically convert into one common share upon stockholder approval of an increase in authorized common stock, potentially adding 7,374,632 common shares to the float.
4. Investor Participation and Closing
The financing is led by Adage Capital Management with participation from Trails Edge Capital Partners and Marshall Wace, and is slated to close on February 18, 2026, subject to customary closing conditions.