FFB Retinal Degeneration Fund sold 1,700,000 shares (1.70M) of IRD at $4.35; stock now at $4.44, -23.6% from 52-week high.
Foundation Fighting Blindness Retinal Degeneration Fund, a director, divested 1,700,000 shares (1.70M shares) in a $7,395,000.00 sale at $4.35 on 2026-05-18, reducing holdings from 5,492,171 to 3,792,171 shares (-31.0% vs pre-transaction holdings). The sale occurs with the stock trading -23.6% from its 52-week high and having declined -19.9% over the prior 30 days, though it has gained +24.4% over 90 days. IRD is unprofitable, posting a net income of $-65,535,000.00 while generating only $2,157,000.00 in latest quarterly revenue, though annual revenue growth stands at +29.2%. The prior sale by this insider at this ticker (2025-12-09) delivered a 90-day return of +121.9%, a poorly-timed outcome relative to the insider's stated transaction pattern. The scale of this reduction—shedding nearly one-third of the existing position—paired with the company's significant losses and the stock's recent weakness merit investor attention to the timing and any accompanying disclosures around director positioning.