Opus Genetics, Inc. (NASDAQ: IRD) disclosed a non-discretionary stock sale by its Chief Scientific & Development Officer, Jayagopal Ashwath, in a Form 4 filed with the Securities and Exchange Commission. The filing shows Ashwath sold 3,719 shares of common stock on March 16, 2026, at a weighted average price of $5.1213 per share, resulting in proceeds of $19,046. The per-share prices in the transaction ranged from $5.11 to $5.1301.
Following the sale, Ashwath continues to directly hold 516,775 shares of Opus Genetics common stock. The filing specifies that the disposition was executed to cover tax withholding obligations associated with vested restricted stock units and was not a discretionary trade by the executive.
Company program updates
Opus Genetics provided a string of operational updates alongside the insider transaction disclosure. Early data from the company’s Phase 1/2 trial of the OPGx-BEST1 gene therapy for BEST1-related retinal diseases showed that the trial’s first participant experienced no ocular inflammation or treatment-related adverse events at the three-month post-treatment check.
Regulatory activity also advanced: the U.S. Food and Drug Administration accepted Opus Genetics’ supplemental New Drug Application for a presbyopia treatment and set a target review decision date of October 17, 2026.
On the financing front, Opus Genetics raised $25 million in a private placement of Series B Non-Voting Convertible Preferred Stock, with substantial participation from Adage Capital Management. The company indicated the proceeds are intended to support its ongoing gene therapy initiatives.
Operational plans include initiating a clinical trial in Abu Dhabi to assess a gene therapy for MERTK-related retinitis pigmentosa.
Analyst view
Craig-Hallum reiterated a Buy rating on Opus Genetics and maintained a $9.00 price target, citing potential upside tied to the company’s progressing gene therapy programs.
Each of the updates above was disclosed by the company in public filings and statements. The insider sale was explicitly described as a tax-withholding related disposition rather than a discretionary sale by the officer.