(IRD) Opus Genetics - NASDAQ
Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 335m USD | Total Return: 328.4% in 12m
Avg Turnover: 3.28M
Warnings
Negative Equity with losses - insolvent profile
Share dilution 2464.3% YoY
Interest Coverage Ratio -48.7 is critical
Altman Z'' -15.00 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
Rs Leader, Idiosyncratic Leader
Opus Genetics, Inc. (NASDAQ: IRD) is a clinical-stage biopharmaceutical company focused on developing gene therapies and small-molecule treatments for inherited retinal diseases (IRDs) and other ophthalmic disorders. The company’s pipeline includes OPGx-LCA5, currently in Phase 1/2 clinical trials for LCA5-associated retinal degeneration, alongside multiple pre-clinical programs targeting RHO, BEST1, and RDH12 mutations. Beyond gene augmentation, the firm is developing phentolamine ophthalmic solutions for presbyopia and mydriasis reversal, as well as oral inhibitors for diabetic retinopathy.
The company operates within the specialized gene therapy sector, which utilizes adeno-associated virus (AAV) vectors to deliver functional genetic material directly to retinal cells. This business model focuses on orphan indications, targeting rare genetic mutations that currently lack approved pharmacological treatments. Investors should examine ValueRays data to better understand the risk profile of clinical-stage biotech assets. Opus Genetics is headquartered in Durham, North Carolina, and recently rebranded from Ocuphire Pharma to reflect its expanded focus on precision genetic medicine.
- Phase 1/2 clinical trial data for OPGx-LCA5 influences investor valuation
- FDA approval progress for Phentolamine Ophthalmic Solution drives near-term revenue
- Research and development expenses for preclinical IRD programs impact cash runway
- Strategic pivot from Ocuphire Pharma increases focus on high-risk gene therapies
- Clinical success of APX3330 for diabetic retinopathy determines long-term market expansion
| Net Income: -106.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -1.54 > 0.02 and ΔFCF/TA -39.29 > 1.0 |
| NWC/Revenue: 477.9% < 20% (prev 173.4%; Δ 304.4% < -1%) |
| CFO/TA -0.58 > 3% & CFO -39.0m > Net Income -106.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 7.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (868.9m) vs 12m ago 2.46k% < -2% |
| Gross Margin: 49.42% > 18% (prev 99.93%; Δ -50.51% > 0.5%) |
| Asset Turnover: 20.85% > 50% (prev 28.34%; Δ -7.49% > 0%) |
| Interest Coverage Ratio: -48.69 > 6 (EBIT TTM -104.8m / Interest Expense TTM 2.15m) |
| A: 0.86 (Total Current Assets 66.6m - Total Current Liabilities 9.34m) / Total Assets 66.8m |
| B: -3.80 (Retained Earnings -254.1m / Total Assets 66.8m) |
| C: -1.82 (EBIT TTM -104.8m / Avg Total Assets 57.5m) |
| D: -0.41 (Book Value of Equity -45.8m / Total Liabilities 112.6m) |
| Altman-Z'' = -19.46 = D |
As of June 20, 2026, the stock is trading at USD 4.07 with a total of 1,056,500 shares traded.
Over the past week, the price has changed by +4.09%,
over one month by -4.46%,
over three months by -11.14% and
over the past year by +328.42%.
Opus Genetics has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy IRD.
- StrongBuy: 2
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 10.5 | 157.2% |
P/E Forward = 12.0048
P/S = 27.9744
P/B = 23.8194
Revenue TTM = 12.0m USD
EBIT TTM = -104.8m USD
EBITDA TTM = -104.7m USD
Long Term Debt = 1.20m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 25.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -34.0m USD (calculated: Debt 25.9m - CCE 60.0m)
Enterprise Value = 301.2m USD (335.2m + Debt 25.9m - CCE 60.0m)
Interest Coverage Ratio = -48.69 (Ebit TTM -104.8m / Interest Expense TTM 2.15m)
EV/FCF = -2.93x (Enterprise Value 301.2m / FCF TTM -102.9m)
FCF Yield = -34.17% (FCF TTM -102.9m / Enterprise Value 301.2m)
FCF Margin = -859.0% (FCF TTM -102.9m / Revenue TTM 12.0m)
Net Margin = -892.4% (Net Income TTM -106.9m / Revenue TTM 12.0m)
Gross Margin = 49.42% ((Revenue TTM 12.0m - Cost of Revenue TTM 6.06m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 4.51 (Enterprise Value 301.2m / Total Assets 66.8m)
Interest Expense / Debt = 8.30% (Interest Expense 2.15m / Debt 25.9m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -82.8m (EBIT -104.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.84 (Total Current Assets 66.6m / Total Current Liabilities 13.8m)
Debt / Equity = -0.57 (negative equity) (Debt 25.9m / totalStockholderEquity, last quarter -45.8m)
Debt / EBITDA = 0.32 (negative EBITDA) (Net Debt -34.0m / EBITDA -104.7m)
Debt / FCF = 0.33 (negative FCF - burning cash) (Net Debt -34.0m / FCF TTM -102.9m)
Total Stockholder Equity = -1.76m (last 4 quarters mean from totalStockholderEquity)
RoA = -186.0% (out of range, set to none)
RoE = 6.07k% (out of range, set to none) (Net Income TTM -106.9m / Total Stockholder Equity -1.76m)
RoCE = 18.6k% (out of range, set to none) (EBIT -104.8m / Capital Employed (Equity -1.76m + L.T.Debt 1.20m))
RoIC = -145.6% (out of range, set to none) (NOPAT -82.8m / Invested Capital 56.8m)
WACC = 11.61% (E(335.2m)/V(361.2m) * Re(12.0%) + D(25.9m)/V(361.2m) * Rd(8.30%) * (1-Tc(0.21)))
Discount Rate = 12.0% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 412.4%
[DCF] Fair Price = unknown (Cash Flow -102.9m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.52 | # QB: -1
Revenue Correlation: -69.09 | Revenue CAGR: -34.69% | SUE: -0.19 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.17 | Chg30d=+1.94% | Revisions=-20% | Analysts=9
EPS next Quarter (2026-09-30): EPS=-0.16 | Chg30d=-2.94% | Revisions=-20% | Analysts=9
EPS current Year (2026-12-31): EPS=-0.97 | Chg30d=-7.44% | Revisions=N/A | GrowthEPS=-20.9% | GrowthRev=+7.1%
EPS next Year (2027-12-31): EPS=-0.70 | Chg30d=-2.86% | Revisions=-20% | GrowthEPS=+27.4% | GrowthRev=+1.2%
[Analyst] Revisions Ratio: -20%