Ray Therapeutics

Executive Summary

Ray Therapeutics is a clinical-stage biotechnology company pioneering optogenetic gene therapies to restore vision in patients with degenerative retinal diseases. Its lead program targets retinitis pigmentosa, a leading cause of inherited blindness, with additional programs for Stargardt's disease and geographic atrophy. By reprogramming surviving retinal neurons to become light-sensitive, the company's approach aims to restore functional vision regardless of the underlying genetic mutation. Ray Therapeutics has advanced to Phase 2/3 clinical trials, reflecting significant progress in a field with high unmet medical need and no approved disease-modifying treatments for many patients. The company's technology platform holds potential for broad applicability across multiple retinal disorders, positioning it as a key player in the optogenetics space.

Upcoming Catalysts (preview)

• Q3 2026Phase 2 Interim Data for Retinitis Pigmentosa Program60% success
• Q4 2026FDA Orphan Drug Designation for Stargardt's Disease Program80% success
• H2 2026Series C Financing Round70% success