Opus Genetics Inc. has announced its financial results for the first quarter of 2025, revealing a notable increase in research and development expenses, which rose to $8.0 million from $4.7 million in the same period last year. This increase is primarily attributed to higher clinical and payroll-related costs, despite a reduction in manufacturing expenses due to decreased activity in the VEGA-2 trial. License and collaboration revenue reached $4.4 million, up from $1.7 million in the first quarter of 2024. The company reported cash and cash equivalents totaling $41.8 million as of March 31, 2025, and management anticipates that this will be sufficient to fund operations into the second quarter of 2026. In terms of business operations, Opus Genetics highlighted positive 12-month data from their Phase 1/2 trial of OPGx-LCA5, showing sustained treatment benefits for Leber congenital amaurosis 5 (LCA5). The pediatric cohort study for LCA5 is ongoing, with initial data expected in the third quarter of 2025. The company is also preparing for the IND filing and initiation of a Phase 1/2 clinical trial for OPGx-BEST1, with early data anticipated in the first quarter of 2026. Additionally, pivotal Phase 3 trial results for the Phentolamine Ophthalmic Solution 0.75% are expected in mid-2025 and the first half of 2025, respectively.
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