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Magrath George, the CEO of Opus Genetics, Inc. (NASDAQ:IRD), recently acquired 100,000 shares of the company's common stock. The purchase, valued at approximately $97,600, was executed at a weighted average price of $0.976 per share. The shares were bought in multiple transactions, with prices ranging from $0.97 to $0.98. The timing appears strategic, as the stock has gained over 14% in the past week, now trading at $1.12. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 6.63, while analyst price targets range from $8 to $15. Want deeper insights into IRD's valuation and 8 additional key metrics? Check out InvestingPro for exclusive analysis and real-time updates. Following this transaction, George holds a total of 599,150 shares directly.
In other recent news, Opus Genetics, Inc. has made significant strides in the field of ophthalmic treatments. The company has reached an agreement with the U.S. Food and Drug Administration for a Phase 3 clinical trial of APX3330, a potential treatment for moderate to severe non-proliferative diabetic retinopathy (NPDR). This development follows the recent merger between Opus Genetics and Ocuphire Pharma, forming a new entity focused on inherited retinal diseases.
The company's pipeline includes the promising Phentolamine Ophthalmic Solution 0.75%, currently undergoing Phase 3 trials for presbyopia and reduced dim light vision post-surgery. H.C. Wainwright has assigned a Buy rating to Opus Genetics, citing the potential of the company's inherited retinal disease platform and the 2025 catalysts for ongoing innovation.
Furthermore, Opus Genetics has reported positive results from two pivotal Phase 3 clinical trials for its eye treatment RYZUMVI. The company also initiated the VEGA-3 Phase 3 clinical trial for the treatment of presbyopia and the LYNX-2 Phase 3 trial for decreased visual acuity under low light conditions.
These are among the recent developments at Opus Genetics as it continues to make progress in its mission to advance treatments for eye conditions.
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