SCHEDULE 13G/A 0001224962 XXXXXXXX LIVE 1 Common Stock, $0.0001 par value per share 12/31/2025 0001228627 Opus Genetics, Inc. 67577R102 8 Davis Drive Suite 220 Durham NC 27709 Rule 13d-1(c) Perceptive Advisors LLC b DE 0 7174154 0 7174154 7174154 N 9.99 IA Joseph Edelman b X1 0 7174154 0 7174154 7174154 N 9.99 IN Perceptive Life Sciences Master Fund, Ltd. b E9 0 7174154 0 7174154 7174154 N 9.99 CO Opus Genetics, Inc. 8 Davis Drive, Suite 220, Durham, NC, 27713 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 68,964,208 outstanding shares of Common Stock as of November 10, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2025, and assume the exercise of Warrants (as defined below) held by the Reporting Persons for 2,849,154 shares of Common Stock. Neither Perceptive Advisors nor Mr. Edelman directly holds any Common Stock. The Master Fund directly holds (i) 4,325,000 shares of Common Stock, (ii) pre-funded warrants (the "Pre-Funded Warrants") to purchase 13,617,584 shares of Common Stock at an exercise price of $0.0001 per share, subject to the Beneficial Ownership Limitation (as defined below), and (iii) common warrants (the "Common Warrants," and together with the Pre-Funded Warrants, the "Warrants") to purchase 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) of 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 2,849,154 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: 7,174,154 Mr. Edelman: 7,174,154 Master Fund: 7,174,154 Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0 Perceptive Advisors: 7,174,154 Mr. Edelman: 7,174,154 Master Fund: 7,174,154 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 02/17/2026 Joseph Edelman /s/ Joseph Edelman 02/17/2026 Perceptive Life Sciences Master Fund, Ltd. /s/ Joseph Edelman 02/17/2026