Opus Genetics (IRD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Opus Genetics

NasdaqCM•Healthcare•Biotechnology

$4.34-0.33(-0.07%)Pre-market

Market Cap

$516.56M

P/S

52.4x

Opus Genetics, Inc., a clinical-stage biopharmaceutical company, develops gene therapies to restore vision and prevent blindness in patients with inherited retinal diseases (IRDs) and other types of therapies for additional ophthalmic disorders. It develops OPGx-LCA5, an early-onset retinal degeneration that is in Phase 1/2 clinical trial for the treatment of LCA5-associated IRD; and OPGx-BEST1 to treat BEST1-associated retinal disease. The company also develops various pre-clinical IRD programs, including OPGx-RHO, a gene therapy that targets autosomal dominant retinitis pigmentosa caused by RHO mutations; OPGx-RDH12 that is designed to restore protein expression and halt functional deterioration in patients with retinal dystrophy caused by mutations in the retinal dehydrogenase gene; OPGx-MERTK, an AAV vector for the treatment of MERTK IRD; OPGx-NMNAT1, a gene augmentation therapy designed to halt functional deterioration in pediatric patients with retinal degenerative disease caused by mutations in the nicotinamide mononucleotide adenylyltransferase 1 gene; and OPGx-CNGB1, an AAV gene therapy for retinitis pigmentosa due to mutations in the CNGB1 gene. In addition, it develops Phentolamine Ophthalmic Solution for reversal of mydriasis, as well as for the treatment of presbyopia and dim light or night vision disturbances and APX3330, a small-molecule inhibitor of Ref-1 for the treatment of diabetic retinopathy. Opus Genetics, Inc. was formerly known as Ocuphire Pharma, Inc. and changed its name to Opus Genetics, Inc. in November 2020. The company was founded in 2018 and is headquartered in Durham, North Carolina.

How this company scores

WeakMetricSide Score: 27/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Balance Sheet & Red Flags (11/25); weakest: Cash & Earnings Quality (4/25).

Profitability8/25

Growth4/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality4/25

Strengths

Long cash runwayNet cash position

Grade capped at D

Negative equity — the balance sheet is insolvent.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 2.5x5y range 2.5x – 4.6x

Currently below its 4-quarter median.

P/S · 52.4x5y range 1.3x – 146.3x

Currently above its 19-quarter median.

P/B · 7.9x5y range 1.0x – 21.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $516.56M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $9.86M
Q. Revenue: $755,000
TTM EBITDA: $-50.53M
TTM Op. Income: $-50.61M
Q. Op. Income: $-16.48M
TTM Net Income: $-107.61M
Q. Net Income: $-8.10M
EPS: $-0.08
Shares Out.: $95.48M

$9.86M in TTM revenue declined 36.1% YoY, reaching $755,000 last quarter. TTM EBITDA of $-50.53M and TTM operating income of $-50.61M show growth is flowing through to the bottom line. However, net income is negative at $107.61M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 4 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -2180.9%
Op. Margin: -2182.8%
Net Margin: -1072.6%

Op. margin of -2182.8% is down 1873.8% YoY — costs are rising relative to revenue. Net margin at -1072.6% Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 52.4x
P/B Ratio: N/A

P/S of 52.4x and P/B of 0.0x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $92.97M
Cash: $88.81M
Long-Term Debt: $35.28M
Book Value: $-12.99M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-11.95M
TTM Free Cash Flow: $-40.67M
FCF Margin: -412.6%
FCF / Net Income: 0.4

TTM FCF of $-40.67M on $-11.95M in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 7 consecutive quarters — a weakening trend.