On February 7, 2025, Mina Sooch, founder of Ocuphire Pharma, Inc., now known as Opus Genetics, Inc., announced the nomination of a 'Restore Value Slate' of seven director candidates for election to the company's Board of Directors. The slate collectively owns approximately 4.1% of the outstanding shares.
Sooch criticized the current Board's strategic, management, and capital allocation failures, which she claims have led to an 80% stock decline over the last 22 months. She specifically highlighted the shift to capital-intensive gene therapy assets while undervaluing the legacy small molecule portfolio.
The Restore Value Slate is committed to restoring shareholder trust, implementing strong corporate governance, and ensuring transparent communication. The Annual Meeting is scheduled for April 30, 2025, setting the stage for a pivotal election regarding the company's future direction.
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