Opus Genetics Q3 revenue falls and misses analyst estimates

Overview

• U.S. gene therapy developer's Q3 revenue declined and missed analyst expectations

• Net loss widened on higher R&D costs, lower revenue, and fair value changes

• FDA approval of partnered drug triggered milestone payment; cash runway expected into 2029

Outlook

• Opus Genetics expects its cash runway to fund operations into 2029

• Company expects OPGx-BEST1 Cohort 2 topline data in Q1 2027

• Opus Genetics expects to begin dosing in OPGx-LCA5 Phase 3 trial in Q4 2026

Result Drivers

• REVENUE SOURCE - Q3 revenue mainly from R&D service reimbursements under Viatris collaboration

• R&D COSTS - Higher manufacturing and clinical costs for IRD programs drove increased R&D expenses

• FAIR VALUE CHANGES - Net loss increased largely due to higher fair value change in financial instruments

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Opus Genetics Inc is $12.50, about 197.6% above its November 9 closing price of $4.20

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)