Opus Genetics, Inc.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 12, 2026
IRD$4.23+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| For the Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net loss | $(49,591) | $(57,532) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 3,399 | 3,362 |
| Depreciation | 53 | 10 |
| Fair value change in warrant and other derivative liabilities | 11,515 | (72) |
| Warrant Financing costs | 1,337 | — |
| Non-cash interest | 129 | — |
| Non-cash share issuances | 57 | — |
| Unrealized loss from short-term investments | 2 | 13 |
| Acquired in-process research and development | — | 28,000 |
| Gain in connection with asset acquisition | — | (2,447) |
| Change in assets and liabilities: | ||
| Accounts receivable | 1,568 | (2,637) |
| Contract assets and unbilled receivables | 1,039 | (802) |
| Prepaid expenses and other assets | (1,273) | 634 |
| Accounts payable | 7 | 220 |
| Accrued expenses and other liabilities | (3,495) | 5,675 |
| Net cash used in operating activities | (35,253) | (25,576) |
| Investing activities | ||
| Cash received in connection with asset acquisition | — | 1,210 |
| Net cash provided by investing activities | — | 1,210 |
| Financing activities | ||
| Proceeds from issuance of common stock and pre-funded warrants in connection with the registered direct offering | 22,999 | — |
| Proceeds from issuance of common stock and pre-funded warrants in connection with the March 2025 offering and March 2025 private placement | 5,980 | — |
| Proceeds from issuance of warrants in connection with the March 2025 offering and March 2025 private placement | 15,520 | — |
| Proceeds from issuance of common stock in connection with the at-the-market program, private placement and purchase agreement | 5,805 | 4,497 |
| Issuance costs attributed to equity instruments | (2,301) | (232) |
| Proceeds from funding agreement, related party | 1,000 | — |
| Share repurchases for the payment of employee taxes | (152) | (79) |
| Exercise of warrants | 820 | — |
| Exercise of stock options | 352 | — |
| Net cash provided by financing activities | 50,023 | 4,186 |
| Net increase (decrease) in cash and cash equivalents | 14,770 | (20,180) |
| Cash and cash equivalents at beginning of period | 30,321 | 50,501 |
| Cash and cash equivalents at end of period | $45,091 | $30,321 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | $— | $— |
| Cash paid for interest | $— | $— |
| Supplemental non-cash investing and financing transactions: | ||
| Common stock and Series A preferred stock issued in connection with the asset acquisition | $— | $25,808 |
| Net liabilities assumed in connection with asset acquisition | $— | $955 |
| Conversion of Series A preferred stock into common stock | $18,843 | $— |
| Reclass of warrant liabilities to equity upon exercise | $1,052 | $— |
| Change in unpaid issuance costs | $24 | $163 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.