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Opus Genetics, Inc. (the Company, Opus, we, us, or our ) is a clinical-stage biopharmaceutical company developing gene therapies to restore vision and prevent blindness in patients with inherited retinal diseases ( IRDs ), and other types of therapies for additional ophthalmic disorders. Opus was founded in February 2018 as Ocuphire Pharma, Inc. and has since undergone the following transaction…
The business is unprofitable at the operating level (-271.90% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 29.1% YoY with margins expanding 292.8pp.
ROIC dropped from -173.19% to -262.86%, capital efficiency is deteriorating. Negative free cash flow of -$35M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$12M
▲ +29.1% YoY
Net Income (TTM)
-$107M
▲ +13.8% YoY
Op. Margin
-359.13%
▲ +292.8pp YoY
ROIC
-314.91%
▼ -89.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$39M
▼ -37.8% YoY
Op. Cash Flow (TTM)
-$39M
▼ -37.8% YoY
Net Debt
-$59M
Net Cash Position
Cash & Equiv.
$60M
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