Opus Genetics, Inc.
IRDHealthcare|Biotechnology|US
$4.18
+0.17 (+4.37%)
Cash / Share
$0.93
Financials
Financial Snapshot
Market Cap
$347.8M
Enterprise Value
$293.9M
Revenue (TTM)
$9.9M
Net Income (TTM)
-$107.6M
Cash & Investments
$88.8M
Net Cash
$53.9M
Free Cash Flow (TTM)
-$40.7M
Operating CF (TTM)
-$40.7M
Debt/Equity
-2.69
Cash Runway & Burn Rate
Cash on Hand
$88.8M
Quarterly Burn
$10.2M
Monthly Burn
$3.4M
Est. Runway
~8.7 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $1.5M | $16.4M | $24.8M | $42.7M | $50.5M | $30.3M | $45.1M | $88.8M | |
| Operating Cash Flow | -$3.6M | -$6.8M | -$19.4M | $14.3M | -$1.1M | -$25.6M | -$35.3M | -$40.7M | |
| Free Cash Flow | -$3.6M | -$6.8M | -$19.4M | $14.3M | -$1.1M | -$25.6M | -$35.3M | -$40.7M | |
| Capital Expenditure | -$25.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $4.7M | $21.1M | $27.6M | $3.8M | $9.0M | $4.2M | $50.0M | $97.2M |
R&D Spending
R&D (TTM)
$38.6M
R&D Intensity
391.9%
R&D Growth vs Prior
+25.3%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $589.0K | $39.9M | $19.0M | $11.0M | $14.2M | $9.9M | |
| R&D Expense | $2.4M | $6.6M | $15.2M | $14.4M | $17.7M | $26.9M | $30.8M | $38.6M | |
| R&D % of Revenue | — | — | 2576.1% | 36.0% | 92.7% | 244.3% | 217.0% | 391.9% | |
| SG&A | $1.8M | $2.8M | $8.1M | $7.3M | $12.0M | $18.2M | $22.0M | $21.8M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $589.0K | $39.9M | $19.0M | $11.0M | $14.2M | $9.9M | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $13.0K | |
| Gross Profit | $0.00 | $0.00 | $589.0K | $39.9M | $19.0M | $11.0M | $14.2M | $9.8M | |
| R&D | $2.4M | $6.6M | $15.2M | $14.4M | $17.7M | $26.9M | $30.8M | $38.6M | |
| SG&A | $1.8M | $2.8M | $8.1M | $7.3M | $12.0M | $18.2M | $22.0M | $21.8M | |
| Operating Income | -$4.2M | -$20.0M | -$22.7M | $18.2M | -$10.6M | -$62.1M | -$38.6M | -$50.6M | |
| Interest Expense | $1.4M | $6.8M | $2.0K | $9.0K | $1.3M | $0.00 | $1.5M | $2.6M | |
| Pretax Income | -$6.2M | -$24.6M | -$56.7M | $18.2M | -$10.0M | -$57.5M | -$49.6M | -$107.6M | |
| Net Income | -$6.2M | -$24.6M | -$56.7M | $17.9M | -$10.0M | -$57.5M | -$49.6M | -$107.6M | |
| EPS (Diluted) | -0.87 | -5.28 | -3.82 | 0.87 | -0.46 | -2.15 | -0.80 | -1.27 | |
| EBITDA | -$4.8M | -$17.8M | -$56.7M | $18.2M | -$10.0M | -$57.5M | -$48.1M | -$104.9M | |
| Shares Out. (M) | 7.09 | 4.66 | 14.85 | 20.60 | 21.59 | 26.72 | 622.22 | 111.38 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.5M | $16.4M | $24.5M | $42.6M | $50.5M | $30.3M | $45.1M | $88.8M | |
| Short-Term Investments | $0.00 | $0.00 | $219.0K | $49.0K | $15.0K | $2.0K | $0.00 | $0.00 | |
| Total Current Assets | $1.8M | $17.7M | $26.1M | $49.0M | $53.9M | $36.6M | $50.0M | $92.7M | |
| Total Assets | $1.8M | $17.7M | $26.1M | $49.0M | $53.9M | $36.9M | $50.2M | $93.0M | |
| Total Current Liabilities | $9.3M | $3.2M | $3.9M | $2.8M | $4.0M | $11.3M | $7.8M | $7.6M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $34.9M | |
| Total Liabilities | $9.3M | $31.1M | $3.9M | $2.8M | $4.0M | $30.1M | $34.9M | $106.0M | |
| Stockholders' Equity | -$7.6M | -$13.5M | $22.2M | $46.2M | $49.9M | $6.7M | $15.3M | -$13.0M | |
| Retained Earnings | -$8.1M | -$32.7M | -$89.4M | -$71.5M | -$81.5M | -$139.0M | -$188.6M | -$262.2M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.6M | -$6.8M | -$19.4M | $14.3M | -$1.1M | -$25.6M | -$35.3M | -$40.7M | |
| Capital Expenditure | -$25.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$3.6M | -$6.8M | -$19.4M | $14.3M | -$1.1M | -$25.6M | -$35.3M | -$40.7M | |
| Investing Cash Flow | -$25.0K | $539.0K | -$100.0K | $0.00 | $0.00 | $1.2M | $0.00 | $0.00 | |
| Financing Cash Flow | $4.7M | $21.1M | $27.6M | $3.8M | $9.0M | $4.2M | $50.0M | $97.2M | |
| Issuance of Stock | $0.00 | $21.1M | $28.5M | $4.4M | $9.2M | $4.5M | $49.2M | $39.7M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$79.0K | -$152.0K | -$149.0K | |
| Net Debt Issuance | $4.7M | $2.2M | $538.0K | -$538.0K | $0.00 | $0.00 | $1.0M | $35.0M | |
| Stock Based Comp. | $308.0K | $1.5M | $1.9M | $1.8M | $3.5M | $3.4M | $3.4M | $4.5M | |
| Net Change in Cash | $1.1M | $14.9M | $8.1M | $18.1M | $7.9M | -$20.2M | $14.8M | $56.5M |
Dilution Tracker
Shares outstanding grew 13249.2% over 5 years — significant dilution
Shares Outstanding
83M
5-Year Share Growth
+13249.2%
Stock Issuance (TTM)
$39.7M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 7.09 | 4.66 | 14.85 | 20.60 | 21.59 | 26.72 | 622.22 | 111.38 | |
| Change vs Prior % | — | -34.3% | 218.7% | 38.7% | 4.8% | 23.7% | 2229.1% | -82.1% | |
| Stock Issuance | $0.00 | $21.1M | $28.5M | $4.4M | $9.2M | $4.5M | $49.2M | $39.7M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$79.0K | -$152.0K | -$149.0K | |
| Stock Based Comp. | $308.0K | $1.5M | $1.9M | $1.8M | $3.5M | $3.4M | $3.4M | $4.5M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 99.9% | |
| Operating Margin % | — | — | -3854.8% | 45.7% | -55.5% | -564.7% | -271.9% | -513.5% | |
| Net Margin % | — | — | -9625.3% | 44.9% | -52.4% | -523.4% | -349.3% | -1091.8% | |
| EBITDA Margin % | — | — | -9624.3% | 45.7% | -52.3% | -523.3% | -338.6% | -1064.4% | |
| FCF Margin % | — | — | -3288.6% | 35.9% | -5.8% | -232.7% | -248.3% | -412.6% | |
| ROE % | 81.6% | 182.8% | -255.1% | 38.7% | -20.0% | -855.6% | -323.1% | 1147.6% | |
| ROA % | -345.8% | -139.2% | -217.4% | 36.5% | -18.5% | -156.1% | -98.7% | -115.7% | |
| ROIC % | 221.5% | -137.7% | -99.8% | 38.7% | -21.2% | -242.8% | -90.9% | -59.3% | |
| R&D / Revenue % | — | — | 2576.1% | 36.0% | 92.7% | 244.3% | 217.0% | 391.9% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 6665.7% | -52.2% | -42.3% | 29.1% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 6665.7% | -52.2% | -42.3% | 29.1% | |
| Operating Income | 0.0% | -376.2% | -13.7% | 180.3% | -158.0% | -487.7% | 37.8% | |
| Net Income | 0.0% | -299.1% | -130.3% | 131.6% | -155.8% | -476.1% | 13.8% | |
| EPS (Diluted) | 0.0% | -506.9% | 27.7% | 122.8% | -152.9% | -367.4% | 62.8% | |
| Operating Cash Flow | 0.0% | -89.2% | -185.0% | 173.9% | -107.8% | -2200.0% | -37.8% | |
| Free Cash Flow | 0.0% | -87.9% | -185.0% | 173.9% | -107.8% | -2200.0% | -37.8% | |
| R&D Expense | 0.0% | 180.2% | 128.2% | -5.4% | 23.0% | 52.1% | 14.8% | |
| SG&A Expense | 0.0% | 54.8% | 188.2% | -10.5% | 64.5% | 52.3% | 20.7% | |
| Total Assets | 0.0% | 891.1% | 47.5% | 87.9% | 10.1% | -31.7% | 36.3% | |
| Book Value / Share | 0.0% | -171.0% | 151.8% | 55.1% | -0.4% | -89.1% | -90.2% | |
| Debt | 0.0% | -100.0% | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | |
| Diluted Shares | 0.0% | -34.3% | 218.7% | 38.7% | 4.8% | 23.7% | 2229.1% |
Valuation
P/E (TTM)At Loss
P/S35.28
10Y Low / Med / High0.65 / 2.89 / 88.10
P/B-30.73
10Y Low / Med / High0.56 / 0.86 / 81.49
EV/EBITDAAt Loss
10Y Low / Med / High0.09 / 0.58 / 2.27
EV/Revenue29.82
P/FCFAt Loss
Intrinsic Value Models (per share)
Cash / Share
$0.93
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -1.48 | -0.24 | -0.34 | 1.43 | -2.80 | -0.55 | -2.51 | -3.29 | |
| P/S Ratio | 0.00 | 0.00 | 32.53 | 0.65 | 1.46 | 2.89 | 88.10 | 35.28 | |
| P/B Ratio | -1.21 | -0.45 | 0.86 | 0.56 | 0.56 | 4.73 | 81.49 | -30.73 | |
| EV/EBITDA | -2.79 | 0.58 | 0.09 | -0.93 | 2.27 | -0.03 | -25.08 | -2.80 | |
| EV/Revenue | 0.00 | 0.00 | -8.21 | -0.42 | -1.19 | 0.13 | 84.92 | 29.82 |
Analyst Estimates & Quality
Altman Z-Score
-4.50
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $12.2M | $11.9M | $37.5M |
| Net Income | -$502.4M | -$513.2M | -$28.3M |
| EPS | $-1.03 | $-0.70 | $-0.24 |
| # Analysts (EPS) | 13 | 12 | 13 |