Opus Genetics Announces Pricing of Public Offering and Concurrent Private Placement with Proceeds of Over $20 Million
Opus Genetics (Nasdaq: IRD) has announced the pricing of a combined financing round totaling over $20 million, consisting of a $20 million public offering and a $1.5 million concurrent private placement. The public offering includes 21,052,631 shares and warrants at $0.95 per unit, while the private placement comprises 1,176,471 shares and warrants at $1.275 per unit.
The financing round was led by Perceptive Advisors and Nantahala Capital, with participation from new institutional biotech investors. Company CEO George Magrath and board chairman Cam Gallagher participated in the private placement. An additional $21.4 million could be raised through warrant exercises following the release of OPGx-BEST1 DUO-1001 Cohort 1 data.
The proceeds will fund clinical development of lead gene therapy programs OPGx-LCA5 and OPGx-BEST1, along with general corporate purposes. The offerings are expected to close around March 24, 2025, with Craig-Hallum acting as sole managing underwriter for the public offering.
Opus Genetics (Nasdaq: IRD) ha annunciato il prezzo di un round di finanziamento combinato che supera i 20 milioni di dollari, composto da un'offerta pubblica di 20 milioni di dollari e da un collocamento privato concomitante di 1,5 milioni di dollari. L'offerta pubblica include 21.052.631 azioni e warrant a 0,95 dollari per unità, mentre il collocamento privato comprende 1.176.471 azioni e warrant a 1,275 dollari per unità.
Il round di finanziamento è stato guidato da Perceptive Advisors e Nantahala Capital, con la partecipazione di nuovi investitori istituzionali nel settore biotech. Il CEO dell'azienda, George Magrath, e il presidente del consiglio, Cam Gallagher, hanno partecipato al collocamento privato. Ulteriori 21,4 milioni di dollari potrebbero essere raccolti attraverso l'esercizio dei warrant dopo il rilascio dei dati del Coorte 1 di OPGx-BEST1 DUO-1001.
I proventi finanzieranno lo sviluppo clinico dei principali programmi di terapia genica OPGx-LCA5 e OPGx-BEST1, insieme a scopi aziendali generali. Si prevede che le offerte si chiudano intorno al 24 marzo 2025, con Craig-Hallum che agirà come unico sottoscrittore gestore per l'offerta pubblica.
Opus Genetics (Nasdaq: IRD) ha anunciado el precio de una ronda de financiamiento combinada que supera los 20 millones de dólares, compuesta por una oferta pública de 20 millones de dólares y una colocación privada concurrente de 1,5 millones de dólares. La oferta pública incluye 21.052.631 acciones y warrants a 0,95 dólares por unidad, mientras que la colocación privada comprende 1.176.471 acciones y warrants a 1,275 dólares por unidad.
La ronda de financiamiento fue liderada por Perceptive Advisors y Nantahala Capital, con la participación de nuevos inversores institucionales en biotecnología. El CEO de la empresa, George Magrath, y el presidente de la junta, Cam Gallagher, participaron en la colocación privada. Se podrían recaudar 21,4 millones de dólares adicionales a través del ejercicio de warrants tras la publicación de los datos de la Cohorte 1 de OPGx-BEST1 DUO-1001.
Los ingresos financiarán el desarrollo clínico de los principales programas de terapia génica OPGx-LCA5 y OPGx-BEST1, junto con fines corporativos generales. Se espera que las ofertas cierren alrededor del 24 de marzo de 2025, con Craig-Hallum actuando como único suscriptor gerente para la oferta pública.
Opus Genetics (Nasdaq: IRD)는 2천만 달러 이상의 결합 자금 조달 라운드 가격을 발표했습니다. 이 라운드는 2천만 달러의 공모와 150만 달러의 동시 사모로 구성됩니다. 공모는 단위당 0.95달러에 21,052,631주와 워런트를 포함하고 있으며, 사모는 단위당 1.275달러에 1,176,471주와 워런트를 포함합니다.
이번 자금 조달 라운드는 Perceptive Advisors와 Nantahala Capital가 주도하였으며, 새로운 기관 생명공학 투자자들이 참여했습니다. 회사의 CEO인 George Magrath와 이사회 의장인 Cam Gallagher는 사모에 참여했습니다. OPGx-BEST1 DUO-1001의 1차 데이터 발표 후 워런트 행사로 추가로 2,140만 달러를 모금할 수 있습니다.
모금된 자금은 주요 유전자 치료 프로그램인 OPGx-LCA5와 OPGx-BEST1의 임상 개발과 일반 기업 목적에 사용될 것입니다. 공모는 2025년 3월 24일경에 마감될 예정이며, Craig-Hallum이 공모의 단독 관리 인수자로 활동할 것입니다.
Opus Genetics (Nasdaq: IRD) a annoncé le prix d'un tour de financement combiné totalisant plus de 20 millions de dollars, composé d'une offre publique de 20 millions de dollars et d'un placement privé concomitant de 1,5 million de dollars. L'offre publique comprend 21 052 631 actions et bons de souscription à 0,95 dollar par unité, tandis que le placement privé comprend 1 176 471 actions et bons de souscription à 1,275 dollar par unité.
Le tour de financement a été dirigé par Perceptive Advisors et Nantahala Capital, avec la participation de nouveaux investisseurs institutionnels dans le secteur des biotechnologies. Le PDG de l'entreprise, George Magrath, et le président du conseil, Cam Gallagher, ont participé au placement privé. Un montant supplémentaire de 21,4 millions de dollars pourrait être levé par l'exercice des bons de souscription après la publication des données de la cohorte 1 d'OPGx-BEST1 DUO-1001.
Les produits financeront le développement clinique des principaux programmes de thérapie génique OPGx-LCA5 et OPGx-BEST1, ainsi que des fins d'entreprise générales. Les offres devraient se clôturer aux alentours du 24 mars 2025, avec Craig-Hallum agissant en tant que seul souscripteur gestionnaire pour l'offre publique.
Opus Genetics (Nasdaq: IRD) hat die Preisgestaltung einer kombinierten Finanzierungsrunde von über 20 Millionen Dollar bekannt gegeben, die aus einem öffentlichen Angebot von 20 Millionen Dollar und einer gleichzeitigen Privatplatzierung von 1,5 Millionen Dollar besteht. Das öffentliche Angebot umfasst 21.052.631 Aktien und Warrants zu 0,95 Dollar pro Einheit, während die Privatplatzierung 1.176.471 Aktien und Warrants zu 1,275 Dollar pro Einheit umfasst.
Die Finanzierungsrunde wurde von Perceptive Advisors und Nantahala Capital geleitet, mit der Beteiligung neuer institutioneller Biotech-Investoren. Der CEO des Unternehmens, George Magrath, und der Vorsitzende des Vorstands, Cam Gallagher, haben an der Privatplatzierung teilgenommen. Weitere 21,4 Millionen Dollar könnten durch die Ausübung von Warrants nach der Veröffentlichung der Daten der Kohorte 1 von OPGx-BEST1 DUO-1001 gesammelt werden.
Die Einnahmen werden die klinische Entwicklung der führenden Gentherapie-Programme OPGx-LCA5 und OPGx-BEST1 sowie allgemeine Unternehmenszwecke finanzieren. Die Angebote sollen voraussichtlich um den 24. März 2025 geschlossen werden, wobei Craig-Hallum als alleiniger Managing Underwriter für das öffentliche Angebot fungiert.
- Secured $21.5M in immediate funding through combined public and private offerings
- Potential for additional $21.4M through warrant exercises
- Strong institutional investor backing from Perceptive Advisors and Nantahala Capital
- Management participation in private placement shows insider confidence
- Funds secured for advancement of two lead gene therapy programs
- Significant dilution with over 22 million new shares being issued
- Low offering price of $0.95 per share in public offering
- Additional dilution possible through warrant exercises
- Warrant exercise contingent on clinical trial data success
Insights
Opus Genetics' $21.5 million financing package ($20M public offering + $1.5M private placement) represents a significant capital infusion for this $37.6M market cap clinical-stage biotech, with potential to reach $43 million in total proceeds if warrants are fully exercised. The funding attracted institutional investors like Perceptive Advisors and Nantahala Capital, with insider participation from CEO George Magrath and board chairman Cam Gallagher in the private placement—a positive signal of management confidence.
The financing structure includes an interesting milestone-based component with $21.4 million in potential additional proceeds tied to the release of clinical data from their OPGx-BEST1 DUO-1001 Cohort 1 study. This creates a clear catalyst event while aligning investor and company interests around this critical clinical readout.
While dilutive (public offering priced at $0.95 versus $1.15 current share price), this capital infusion substantially strengthens Opus's financial position to advance its inherited retinal disease gene therapy pipeline. The warrant structure, with premium-priced call provisions ($1.43 for public offering warrants and $1.725 for private placement warrants), provides upside potential that partially offsets dilution concerns while creating a path to additional capital if clinical progress justifies it.
For a clinical-stage biotech developing therapies for rare eye disorders, this financing package provides crucial runway to reach value-inflecting clinical milestones while demonstrating institutional investor confidence in the company's scientific approach.
This financing package strategically positions Opus Genetics to advance its gene therapy pipeline for inherited retinal diseases (IRDs). The $21.5 million immediate funding, with potential to reach $43 million total, provides critical capital for the two lead programs: OPGx-LCA5 and OPGx-BEST1.
The funding structure reveals important insights about the company's clinical development timeline. The presence of warrants contingent on OPGx-BEST1 DUO-1001 Cohort 1 data suggests this readout represents a crucial near-term catalyst. The premium-priced call provisions ($1.43 and $1.725 thresholds) indicate investor expectations for positive data-driven valuation inflection.
For rare genetic ophthalmology indications like these, development costs are typically more manageable than broader indications due to smaller trial sizes, making this funding package proportionally substantial. The ability to secure institutional backing for these orphan indication programs demonstrates confidence in the company's scientific platform and clinical trial designs.
The participation of specialized biotech investors like Perceptive Advisors is particularly noteworthy, as they have deep expertise in assessing gene therapy platforms and clinical development risks. This transaction structure creates clear alignment around the upcoming BEST1 data readout while providing Opus with flexibility to potentially accelerate development timelines across multiple programs rather than sequentially advancing candidates based on capital constraints.
Additional approximately
RESEARCH TRIANGLE PARK, N.C., March 21, 2025 (GLOBE NEWSWIRE) -- Opus Genetics, Inc. (“Opus” or the “Company”) (Nasdaq: IRD), a clinical-stage ophthalmic biotechnology company developing gene therapies for the treatment of inherited retinal diseases (IRDs) and therapies for other ophthalmic disorders, today announced the pricing of an underwritten public offering with gross proceeds of
The public offering was led by Perceptive Advisors and Nantahala Capital, with participation from other new institutional biotech investors. Company CEO George Magrath and board chairman Cam Gallagher participated in the concurrent private placement.
Opus intends to use the net proceeds to fund clinical development of its lead gene therapy programs, OPGx-LCA5 and OPGx-BEST1, as well as for general corporate purposes and working capital. The offerings are expected to close on or about March 24, 2025, subject to the satisfaction of customary closing conditions.
Warrants to be issued as part of the public offering and concurrent private placement could bring in up to
The public offering is comprised of 21,052,631 shares of common stock, or common stock equivalents, and 21,052,631 warrants to purchase shares of common stock, at a public offering price of
The concurrent private placement is comprised of 1,176,471 shares of common stock and 1,176,471 warrants to purchase shares of common stock, at an offering price of
Craig-Hallum is acting as sole managing underwriter for the public offering.
The shares of common stock and warrants in the public offering described above are being offered by Opus pursuant to a shelf registration statement on Form S-3 (File No. 333-276462), including a base prospectus, that was filed with the Securities and Exchange Commission (SEC) and declared effective on January 23, 2024. The public offering is being made only by means of a prospectus supplement and accompanying prospectus which form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the public offering was filed with the SEC on March 20, 2025. The final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and available on the SEC’s website at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at prospectus@chlm.com.
The shares of common stock and warrants being issued in the private placement, along with the securities underlying such warrants, are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the shares of common stock, warrants and securities underlying such warrants may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Opus Genetics
Opus Genetics is a clinical-stage ophthalmic biotechnology company developing gene therapies to treat patients with inherited retinal diseases (IRDs) and other treatments for ophthalmic disorders. The pipeline includes adeno-associated virus (AAV)-based investigational gene therapies that address mutations in genes that cause different forms of bestrophinopathy, Leber congenital amaurosis (LCA) and retinitis pigmentosa. Our most advanced investigational gene therapy program is designed to address mutations in the LCA5 gene, which encodes the lebercilin protein and is currently being evaluated in a Phase 1/2 open-label, dose-escalation trial, with encouraging early data. BEST1 investigational gene therapy is designed to address mutations in the BEST1 gene, which is associated with retinal degeneration; we expect that a Phase 1/2 study will be initiated in 2025. The pipeline also includes Phentolamine Ophthalmic Solution
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning the completion of the public offering and concurrent private placement, the satisfaction of customary closing conditions related to the public offering and concurrent private placement and the intended use of proceeds therefrom, data from and future enrollment for our clinical trials and our pipeline of additional indications.
These forward-looking statements relate to us, our business prospects and our results of operations and are subject to certain risks and uncertainties posed by many factors and events that could cause our actual business, prospects and results of operations to differ materially from those anticipated by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those described under the heading “Risk Factors” included in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 and in our other filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “aim,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. We undertake no obligation to revise any forward-looking statements in order to reflect events or circumstances that might subsequently arise.
These forward-looking statements are based upon our current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation:
- Our ability to successfully integrate the business of former Opus Genetics Inc. and manage our expanded combined product pipeline;
- Our ability to develop and obtain regulatory approval for newly acquired gene therapies to treat inherited retinal diseases;
- Our ability to obtain and maintain orphan drug designation or rare pediatric disease designation for our current and future product candidates;
- The success and timing of regulatory submissions and pre-clinical and clinical trials, including enrollment and data readouts;
- Regulatory requirements or developments;
- Changes to or unanticipated events in connection with clinical trial designs and regulatory pathways;
- Delays or difficulties in the enrollment of patients in clinical trials;
- Substantial competition, including from generic versions of our product candidates;
- Rapid technological change;
- Our development of sales and marketing infrastructure;
- Future revenue losses and profitability;
- Changes in capital resource requirements;
- Risks related to our inability to obtain sufficient additional capital to continue to advance our product candidates and our preclinical programs;
- Domestic and worldwide legislative, regulatory, political and economic developments;
- Our dependency on key personnel;
- Changes in market opportunities and acceptance;
- Reliance on third parties to conduct our clinical trials and supply and manufacture drug supplies;
- Future, potential product liability and securities litigation;
- System failures, unplanned events, or cyber incidents;
- The substantial number of shares subject to potential issuance associated with our equity line of credit arrangement;
- Risks that our licensing or partnership arrangements may not facilitate the commercialization or market acceptance of our product candidates;
- Future fluctuations in the market price of our common stock;
- Actions by activist stockholders;
- The success and timing of commercialization of any of our product candidates;
- Obtaining and maintaining our intellectual property rights; and
- The success of mergers and acquisitions.
The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive. Readers are urged to carefully review and consider the various disclosures made by us in this report and in our other reports filed with the Securities and Exchange Commission that advise interested parties of the risks and factors that may affect our business. All forward-looking statements contained in this press release speak only as of the date on which they were made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contacts
| Corporate | Investor Relations |
| Nirav Jhaveri CFO ir@opusgtx.com | Corey Davis, Ph.D. LifeSci Advisors cdavis@lifesciadvisors.com |
FAQ
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