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Opus Genetics, Inc. (NASDAQ:IRD) announced Wednesday that Chief Financial Officer Nirav Jhaveri has departed the company following a termination without cause. According to a press release statement based on a filing with the Securities and Exchange Commission, the company reported that Jhaveri’s departure was not related to any disagreement with management or the company’s independent auditors regarding accounting principles, financial statement disclosure, or internal controls.
In connection with his separation, Jhaveri will be entitled to severance benefits as outlined in his employment agreement, contingent upon his execution and non-revocation of the company’s standard separation and release agreement. Details of his employment agreement were previously described in the company’s Definitive Proxy Statement filed on April 2, 2025.
Opus Genetics stated it has begun the process of appointing a permanent successor. In the interim, Amy Rabourn, the company’s Senior Vice President of Finance, will serve as principal financial officer and principal accounting officer. Rabourn, age 45, was promoted to her current role in January 2023 after serving as Vice President of Finance since November 2020. She has over 20 years of finance and accounting experience, including public company roles in the life sciences sector. Her previous experience includes serving as Director of Finance at Gemphire Therapeutics, Inc., and financial roles at Pfizer Inc. (NYSE:PFE) and PricewaterhouseCoopers, LLP.
Opus Genetics, a Delaware-based pharmaceutical company, is listed on The Nasdaq Stock Market under the ticker IRD. The information in this article is based on a press release statement and the company’s recent SEC filing.
In other recent news, Opus Genetics reported positive results from its Phase 3 LYNX-2 clinical trial for Phentolamine Ophthalmic Solution 0.75%, which aims to treat chronic night driving impairment. The trial met its primary endpoint, with 17.3% of treated patients achieving a gain of 15 letters or more in visual acuity compared to 9.2% in the placebo group. The FDA granted Opus Genetics RMAT status for their investigational gene therapy, OPGx-LCA5, designed to treat Leber Congenital Amaurosis due to genetic variations in the LCA5 gene. This designation facilitates expedited development and review, highlighting the promising preliminary clinical data. Additionally, Lucid (NASDAQ:LCID) Capital Markets initiated coverage of Opus Genetics with a buy rating and a $5.00 price target, citing promising developments in the company’s gene therapy pipeline. Craig-Hallum also set a $6 price target for Opus Genetics, rating it a Buy based on the potential of its AAV gene therapies. At the company’s recent annual stockholder meeting, several key proposals were approved, including the election of nine directors and the ratification of Ernst & Young, LLP as the independent registered public accounting firm. Opus Genetics continues to advance its pipeline, with future data catalysts anticipated throughout 2025.
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