RESEARCH TRIANGLE PARK, N.C., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Opus Genetics, Inc. (Nasdaq: IRD), a clinical-stage biopharmaceutical company developing gene therapies for the treatment of inherited retinal diseases (IRDs) and small molecule therapies for other ophthalmic disorders (the “Company”), today announced that the Compensation Committee of its Board of Directors approved equity awards under the Company’s 2021 Inducement Plan, as amended, as a material inducement to employment to James Farrell, the Company’s newly appointed Executive Director of Business Development, as well as to one non-executive employee, in each case, who were not previous employees or directors of the Company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of any equity awards that are not made under a stockholder approved equity plan.
The equity awards for the two employees were granted in the form of options to purchase shares of the Company’s common stock, with 175,000 shares subject to the option granted to Mr. Farrell and 189,448 shares subject to the option granted to the other non-executive employee. The option awards have an exercise price equal to the fair market value of an underlying share of Company common stock as of the date of grant and vest over a period of four years, with 25% vesting on the one-year anniversary of the hire date with respect to the 175,000 shares grant and the one-year anniversary of the grant date with respect to the 189,448 shares grant and the remaining 75% vesting in quarterly installments thereafter, subject to acceleration or forfeiture upon the occurrence of certain events as set forth in each new hire’s award agreements.
About Opus Genetics
Opus Genetics is a clinical-stage biopharmaceutical company developing gene therapies for the treatment of inherited retinal diseases (IRDs) and small molecule therapies for other ophthalmic disorders. The Company’s pipeline features AAV-based gene therapies targeting inherited retinal diseases including Leber congenital amaurosis (LCA), bestrophinopathy, and retinitis pigmentosa. Its lead gene therapy candidates are OPGx-LCA5, which is in an ongoing Phase 1/2 trial for LCA5-related mutations, and OPGx-BEST1, a gene therapy targeting BEST1-related retinal degeneration. Opus Genetics is also advancing Phentolamine Ophthalmic Solution 0.75%, a partnered therapy currently approved in one indication and being studied in two Phase 3 programs for presbyopia and reduced low light vision and nighttime visual disturbances. The Company is based in Research Triangle Park, NC. For more information, please visit www.opusgtx.com.
Contacts
Investors
Jenny Kobin
Remy Bernarda
IR Advisory Solutions
ir@opusgtx.com
Media
Kimberly Ha
KKH Advisors
917-291-5744
kimberly.ha@kkhadvisors.com
