RESEARCH TRIANGLE PARK, N.C. — February 13, 2026 — Leads & Copy — Opus Genetics, Inc. (Nasdaq: IRD), a clinical-stage biopharmaceutical company focused on developing gene therapies for inherited retinal diseases (IRDs), has announced a private placement of its Series B Non-Voting Convertible Preferred Stock, expected to generate $25 million in gross proceeds.
The company has entered into a securities purchase agreement for the private placement of 7,374,632 shares at a price of $3.39 per share. Upon stockholder approval of an increase to the authorized shares of common stock to permit the conversion, each share of Series B Non-Voting Convertible Preferred Stock will automatically convert into one share of common stock for an aggregate of 7,374,632 shares of common stock.
The financing is being led by Adage Capital Management, with participation from Trails Edge Capital Partners and Marshall Wace.
Opus Genetics intends to use the net proceeds to advance its gene therapy clinical programs, as well as for working capital and general corporate purposes. The company anticipates that the proceeds from the private placement, combined with its current operating plans, will fund operations into the first half of 2028. This projection is based on a year-end 2025 pro forma cash balance of $70 million and excludes any potential proceeds from callable warrants or future milestone payments.
The offering is expected to close on February 18, 2026, contingent upon customary closing conditions. Sidley Austin LLP acted as counsel to Opus Genetics for the transaction. The company did not use a placement agent for the offering.
The shares of Series B Non-Voting Convertible Preferred Stock and the underlying common stock have not been registered under the Securities Act of 1933 and may not be offered, pledged, sold, delivered, or transferred in the United States without registration or an applicable exemption. Opus Genetics has agreed to file a registration statement with the SEC to register the resale of the common stock underlying the shares of Series B Non-Voting Convertible Preferred Stock sold in the private placement.
Opus Genetics is developing gene therapies to restore vision and prevent blindness in patients with inherited retinal diseases (IRDs). Its pipeline includes seven AAV-based programs, including OPGx-LCA5 for LCA5-related mutations and OPGx-BEST1 for BEST1-related retinal degeneration, with additional candidates targeting RHO, CNGB1, RDH12, NMNAT1, and MERTK. The company is also advancing Phentolamine Ophthalmic Solution 0.75%, an approved small-molecule therapy for pharmacologically induced mydriasis, with potential indications in presbyopia and low-light visual disturbances following keratorefractive surgery. Opus Genetics is based in Research Triangle Park, NC.
Source: Opus Genetics, Inc.
