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Opus Genetics, Inc. (NASDAQ:IRD), whose stock has surged 18.75% over the past week according to InvestingPro data, announced the results of its annual stockholder meeting held on April 30, 2025, where several critical proposals were voted upon. The meeting saw the election of nine directors to the company’s board, each to serve a one-year term until the next annual meeting in 2026. The directors elected include Sean Ainsworth, Dr. Jean Bennett, Susan K. Benton, Cam Gallagher, Dr. Adrienne Graves, Dr. George Magrath, Dr. James S. Manuso, Richard Rodgers, and Dr. Benjamin Yerxa.
Additionally, stockholders ratified the appointment of Ernst & Young, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The compensation of the company’s named executive officers was also approved on an advisory basis.
A pivotal proposal passed was the approval of the conversion of the company’s Series A Preferred Stock into shares of Common Stock, pursuant to Nasdaq listing rules. With the successful passage of the conversion proposal, a subsequent proposal for adjourning the meeting to solicit additional proxies, if necessary, was rendered moot, although it also received approval.
The press release detailing the results of the meeting, including the number of votes for, against, withheld, and broker non-votes for each proposal, provides a transparent view of the company’s governance and stockholder sentiment. The approved measures are expected to influence the company’s operational and governance structure in the upcoming fiscal year. With earnings scheduled for May 9, 2025, InvestingPro subscribers can access additional insights, including 7 more key tips about Opus Genetics’ financial outlook and market position.
In other recent news, Opus Genetics has reported promising early success in its Phase 1/2 clinical trial for the gene therapy OPGx-LCA5, aimed at treating LCA5-related inherited retinal disease. The initial pediatric patient in the trial showed meaningful improvement in visual function, with no adverse events reported. Additionally, Opus Genetics has closed a $20 million public offering and a $1.5 million private placement, with proceeds earmarked for advancing its gene therapy programs and general corporate purposes. Craig-Hallum has initiated a Buy rating for Opus Genetics with a $6 price target, citing the potential of its gene therapy pipeline. Meanwhile, H.C. Wainwright has maintained its Buy rating and $8 price target, expressing optimism about the company’s upcoming data presentations and regulatory interactions. Opus Genetics is preparing for further development of its OPGx-BEST1 therapy, targeting vision loss due to BEST1 gene mutations. The company has also engaged with the FDA to discuss the design of a potential registrational study for OPGx-LCA5. These developments reflect the company’s ongoing efforts to advance its gene therapy initiatives.
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