OKYO Pharma Announces Chairman and CEO Acquire Shares

Rhea-AI Summary

OKYO Pharma (NASDAQ: OKYO), a clinical-stage biopharmaceutical company focused on neuropathic corneal pain (NCP) and inflammatory dry eye disease (DED) treatments, has announced significant insider share purchases. CEO Gary S. Jacob acquired 10,000 ordinary shares at US$1.04 per share on NASDAQ. Additionally, Panetta Partners , connected to Executive Chairman Gabriele Cerrone, purchased 20,000 ordinary shares at the same price. Following these transactions, Cerrone's total shareholding has reached 9,871,570 shares, representing 28.96% of the company's issued share capital.

Positive

• Strong insider confidence demonstrated through significant share purchases by CEO and Chairman
• Executive Chairman increases substantial ownership position to 28.96% of the company
• Insider purchases made at market price, showing genuine confidence in company value

Negative

• None.

Insights

Investment Analyst

The coordinated share purchases by OKYO Pharma's top executives warrant careful analysis. While the absolute purchase amounts are modest ($10,400 by CEO and $20,800 by Chairman's entity), the symbolic value and timing are noteworthy given OKYO's clinical-stage status in the competitive neuropathic corneal pain and dry eye disease markets.

The Executive Chairman's accumulated 28.96% ownership position is particularly significant, representing approximately $11.3 million at current market value. This substantial stake creates strong alignment with minority shareholders and suggests high conviction in OKYO's clinical programs and market opportunity.

These purchases come as OKYO advances its pipeline targeting the multi-billion dollar dry eye disease market and seeks to develop the first FDA-approved therapy for neuropathic corneal pain. The timing may indicate management's optimism about upcoming clinical milestones or the company's competitive positioning.

While insider buying is generally considered a positive signal, investors should note that executives may have various motivations for purchases beyond just perceived undervaluation. The relatively small size of these specific transactions somewhat tempers their significance as a standalone indicator, though the Chairman's large overall position provides meaningful validation of the long-term investment thesis.

LONDON and NEW YORK, Jan. 31, 2025 (GLOBE NEWSWIRE) -- OKYO Pharma Limited (NASDAQ: OKYO), a clinical-stage biopharmaceutical company developing innovative therapies for the treatment of neuropathic corneal pain (NCP), a severe ocular condition without an FDA approved therapy, and for inflammatory dry eye disease (DED), a multi-billion-dollar market, announced today that it has been notified that the Chief Executive Officer, Gary S. Jacob, has purchased 10,000 of the Company’s ordinary shares on NASDAQ at a price of US$1.04 per share.

We have also been notified that Panetta Partners Limited, an entity in which Gabriele Cerrone, the Executive Chairman, has a beneficial interest, purchased 20,000 of the Company’s ordinary shares on NASDAQ at a price of US$1.04 per share. This brings the total shareholding of Mr. Cerrone to 9,871,570 shares which is 28.96% of issued share capital.

About OKYO

OKYO Pharma Limited (NASDAQ: OKYO) is a clinical stage biopharmaceutical company developing innovative therapies for the treatment of NCP and DED, with ordinary shares listed for trading on the NASDAQ Capital Market. OKYO is focused on the discovery and development of novel molecules to treat NCP and inflammatory DED. In addition to the completed Phase 2 trial of OK-101 to treat DED patients, OKYO is also currently evaluating OK-101 to treat NCP patients in a Phase 2 trial.

Enquiries:
OKYO Pharma Limited	Gary S. Jacob, Chief Executive Officer	U.S. 917-497-7560
Business Development & Investor Relations	Paul Spencer	+44 (0)20 7495 2379

FAQ

How many shares did OKYO Pharma's CEO Gary S. Jacob purchase in January 2024?

OKYO Pharma's CEO Gary S. Jacob purchased 10,000 ordinary shares at US$1.04 per share on NASDAQ.

What is the current ownership percentage of Gabriele Cerrone in OKYO Pharma?

Following the recent purchase, Gabriele Cerrone's total shareholding reached 9,871,570 shares, representing 28.96% of OKYO's issued share capital.

What was the purchase price per share for the insider transactions at OKYO in January 2024?

Both insider purchases were made at US$1.04 per share on NASDAQ.

How many shares did Panetta Partners purchase in OKYO Pharma?

Panetta Partners purchased 20,000 ordinary shares of OKYO Pharma.