SCHEDULE 13G 0001224962 XXXXXXXX LIVE Common Stock, $0.0001 par value per share 03/24/2025 0001228627 Opus Genetics, Inc. 67577R102 8 Davis Drive Suite 220 Durham NC 27709 Rule 13d-1(c) Perceptive Advisors LLC DE 0 4510501 0 4510501 4510501 N 9.99 IA Joseph Edelman X1 0 4510501 0 4510501 4510501 N 9.99 IN Perceptive Life Sciences Master Fund, Ltd. E9 0 4510501 0 4510501 4510501 N 9.99 CO Opus Genetics, Inc. 8 Davis Drive, Suite 220, Durham, NC 27709 The names of the persons filing this report (collectively, the "Reporting Persons") with respect to shares of Common Stock, par value $0.0001 per share (the "Common Stock") of Opus Genetics, Inc. (the "Issuer") are: Perceptive Advisors LLC ("Perceptive Advisors") Joseph Edelman ("Mr. Edelman") Perceptive Life Sciences Master Fund, Ltd. ("Master Fund") The address of the principal business office of each of the Reporting Persons is: 51 Astor Place, 10th Floor, New York, NY 10003 Perceptive Advisors is a Delaware limited liability company. Mr. Edelman is a United States citizen. The Master Fund is a Cayman Islands corporation. Y The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover pages to this Schedule 13G. The ownership percentages reported are based on an aggregate of 44,964,664 shares of Common Stock outstanding, as reported by the Issuer in its Prospectus Supplement filed pursuant to Rule 424(b)(5) with the Securities and Exchange Commission on March 24, 2025 and assume the exercise of Warrants (as defined below) held by the Reporting Persons for 185,501 shares of Common Stock. Neither Perceptive Advisors nor Mr. Edelman directly holds any shares of Common Stock or Warrants. The Master Fund directly holds 4,325,000 shares of Common Stock, pre-funded warrants (the "Pre-Funded Warrants") exercisable for 8,832,895 shares of Common Stock at an exercise price of $0.001 per share, subject to the Beneficial Ownership Limitation (as defined below), and common warrants (the "Common Warrants," and together with the Pre-Funded Warrants, the "Warrants") exercisable for 13,157,895 shares of Common Stock at an exercise price of $0.95 per share, subject to the Beneficial Ownership Limitation. The terms of the Warrants provide that the Warrants may not be exercised if, after such exercise, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) if the Securities Exchange Act of 1934, as amended, more than 9.99% of the shares of Common Stock then issued and outstanding (the "Beneficial Ownership Limitation"). As of the date hereof, the Beneficial Ownership Limitation permits the Reporting Persons to exercise Warrants for up to 185,501 shares of Common Stock. Perceptive Advisors serves as the investment manager to the Master Fund. Mr. Edelman is the managing member of Perceptive Advisors. Perceptive Advisors: 9.99 % Mr. Edelman: 9.99 % Master Fund: 9.99 Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0 Perceptive Advisors: 4,510,501 Mr. Edelman: 4,510,501 Master Fund: 4,510,501 Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0 Perceptive Advisors: 4,510,501 Mr. Edelman: 4,510,501 Master Fund: 4,510,501 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Perceptive Advisors LLC /s/ Joseph Edelman 03/31/2025 Joseph Edelman /s/ Joseph Edelman 03/31/2025 Perceptive Life Sciences Master Fund, Ltd. /s/ Joseph Edelman 03/31/2025