Opus Genetics reported a wider-than-expected loss for the third quarter of 2026 as the company ramped up manufacturing and clinical activity for its lead gene therapy candidates. Despite the financial miss, the company achieved key clinical milestones, including full enrollment of its registrational Phase 3 trial for OPGx-LCA5 and completion of dosing in the second cohort of its OPGx-BEST1 program.
Key Highlights
- Research and development expenses surged 126% year-over-year to $14.5 million, primarily driven by clinical and manufacturing costs for the inherited retinal disease (IRD) portfolio.
- The registrational Phase 3 trial for OPGx-LCA5 reached full enrollment with eight participants, with dosing initiation expected in the fourth quarter of 2026.
- Cash and cash equivalents stood at $89.0 million as of September 30, 2026, which the company expects will support operations into 2029.