On March 31, 2025, Opus Genetics, Inc. announced its financial results for the full year ended December 31, 2024. The company reported a net loss of $57.5 million, or ($2.15) per basic and diluted share, a significant increase from a net loss of $10.0 million, or ($0.46) per share, in 2023.
License and collaborations revenue for 2024 was $11.0 million, down from $19.0 million in 2023, primarily due to a $10.0 million milestone payment received in 2023 for the FDA approval of Phentolamine Ophthalmic Solution 0.75%. Research and development expenses increased to $26.9 million in 2024 from $17.7 million in 2023, driven by higher clinical costs for PS trials and IRD programs.
General and administrative expenses also rose to $18.2 million in 2024 from $12.0 million in 2023, attributed to transaction costs from the Opus Acquisition, payroll, and legal fees. As of December 31, 2024, the company held $30.3 million in cash and cash equivalents, which, combined with a recent $21.5 million financing, is projected to fund operations into the second half of 2026.
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