OKYO Pharma Appoints Industry Veteran Robert J. Dempsey as Chief Executive Officer
Rhea-AI Summary
OKYO Pharma (NASDAQ: OKYO) appointed industry veteran Robert J. Dempsey as Chief Executive Officer effective January 5, 2026, with Gary S. Jacob, Ph.D., transitioning to Chief Development Officer and remaining on the Board.
Dempsey brings 20+ years of global ophthalmology experience, led commercialization of Xiidra (sale: $3.4B upfront, up to $1.9B milestones), and oversaw Restasis commercial activities. The Board unanimously approved the leadership change aimed at advancing lead asset urcosimod for neuropathic corneal pain and inflammatory eye disorders.
Positive
- CEO with 20+ years of global ophthalmology experience
- Led commercialization of Xiidra sold for $3.4B upfront
- Direct management oversight experience with Restasis
- Board unanimously approved transition; Gary Jacob remains CDO and board member
Negative
- No near-term commercial timelines or regulatory milestones for urcosimod were disclosed
News Market Reaction 6 Alerts
On the day this news was published, OKYO gained 7.62%, reflecting a notable positive market reaction. Argus tracked a peak move of +6.5% during that session. Argus tracked a trough of -2.9% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $6M to the company's valuation, bringing the market cap to $85M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers show mixed moves: IRD (-5.78%), STRO (-4.7%), ATRA (-3.16%), OVID (+6.67%), XBIT (+0.42%). OKYO’s +7.73% gain appears more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 19 | Corporate ceremony | Positive | +8.6% | Nasdaq Opening Bell event highlighting urcosimod progress and positive Phase 2 results. |
| Dec 15 | Insider share purchase | Positive | -8.3% | Executive Chairman-linked entity acquired 24,551 shares, increasing total holdings above 10.5M. |
| Dec 11 | Clinical data update | Positive | +6.9% | Phase 2 NCP data showed exploratory favorable corneal nerve outcomes with urcosimod vs placebo. |
| Dec 03 | Insider share purchase | Positive | -5.8% | Chairman-linked entity bought 27,051 shares, raising stake to 10,491,746 shares. |
| Nov 21 | Insider share purchase | Positive | +11.0% | Chairman-linked entity acquired 82,018 shares, increasing holding to 10,464,695 shares. |
Recent news skews positive (clinical progress and insider buying), but price reactions are mixed, with both gains and selloffs following favorable developments, suggesting inconsistent alignment between news tone and short-term price moves.
Over the last few months, OKYO highlighted progress around lead candidate urcosimod and visible corporate activity. A Dec 19, 2025 Nasdaq Opening Bell event followed positive Phase 2 data and saw a +8.56% move. Multiple insider share purchases in November and December were disclosed, with price reactions of +10.99%, -5.77%, and -8.25%, indicating mixed market responses. Clinical data on neuropathic corneal pain released on Dec 11, 2025 produced a +6.93% reaction. Today’s CEO appointment fits into an ongoing narrative of clinical advancement and corporate positioning around urcosimod.
Market Pulse Summary
The stock moved +7.6% in the session following this news. A strong positive reaction aligns with the stock’s history of sizable moves on corporate and clinical milestones, such as prior urcosimod updates showing gains above 6%. The CEO appointment brings a track record that includes the Xiidra transaction with $3.4 billion upfront and $1.9 billion in milestones. However, past insider-buying news saw both rallies and selloffs, suggesting leadership-driven strength could still face volatility if expectations reset.
Key Terms
ophthalmic medical
ophthalmology medical
fda regulatory
AI-generated analysis. Not financial advice.
- Accomplished industry leader Robert J. Dempsey brings extensive commercialization and ophthalmic expertise
- Gary S. Jacob, Ph.D., will transition to Chief Development Officer and continue to serve on the Board
LONDON and NEW YORK, Jan. 05, 2026 (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 eye diseases, announces that, effective immediately, Robert J. Dempsey will assume the role of Chief Executive Officer. Gary S. Jacob, Ph.D. will transition to Chief Development Officer and continue to serve as a member of the Board of Directors.
Robert J. Dempsey will join OKYO Pharma immediately as Chief Executive Officer and an executive Board member bringing more than two decades of global ophthalmology experience, including drug development, commercialization, and value-creating strategic transactions. Mr. Dempsey previously served as Group Vice President and Head of Global Ophthalmology at Shire, prior to its acquisition by Takeda, where he led the divestiture of Xiidra® (lifitegrast ophthalmic solution)
This transition ensures continuity in OKYO's strategic direction while positioning the company for its next phase of growth, particularly in advancing its lead asset, urcosimod for the treatment of neuropathic corneal pain and other ocular inflammatory disorders.
“We are immensely grateful for Gary’s leadership over the past four years in shaping OKYO’s clinical strategy and establishing a strong foundation that positions the company at the forefront of ophthalmology innovation,” said Gabriele Cerrone, Founder and Chairman of the Board of Directors, OKYO Pharma. “Robert has been directly involved in the commercialization of two of the most successful blockbuster dry eye therapies, Xiidra® and Restasis®, including leading the introduction of Xiidra®, and now brings that same execution and commercial discipline to advancing urcosimod toward becoming the first therapeutic for neuropathic corneal pain.”
“I am honored to lead OKYO Pharma and advance the foundation that Gary and the team have built,” said Robert J. Dempsey, Chief Executive Officer, OKYO Pharma. “The company’s scientific foundation and focus on addressing significant unmet needs in neuropathic corneal pain and inflammatory eye diseases represent meaningful opportunities to impact the lives of patients. I look forward to leveraging my experience driving global ophthalmology programs and leading organizations through major growth and value inflection points to accelerate urcosimod, execute with discipline, and broaden the company’s strategic potential.”
Dr. Jacob added, “It has been an honor to lead OKYO through this transformative period. I am proud of what our team has accomplished, and I look forward to supporting OKYO as the Chief Development Officer and continuing as a Board member. Robert’s appointment as CEO is a seminal event for our company. His extraordinary record of success in the ophthalmic field, and broad experience in all facets of drug development and commercialization will be invaluable as we move forward with further development of urcosimod to treat NCP and other potential indications.”
The Board of Directors has unanimously approved the transition, which is effective immediately.
About Robert J. Dempsey
Mr. Dempsey brings more than two decades of domestic and global experience in the ophthalmic space driving successful drug development, business transactions, and commercialization. Robert’s CEO and Board Director experience spans extensive transactions and portfolio expertise across venture capital, investment banking, and strategics to successfully secure funding and advance M&A opportunities for multiple companies. His professional network in the eye care community is broad and well-established, serving as an Independent Director on multiple ophthalmic boards.
His philanthropic leadership as a Board Member and Co-Founder of the Holland Foundation for Sight Restoration, alongside world-renowned corneal surgeon Edward J. Holland, M.D., is dedicated to transforming the lives of individuals affected by severe ocular surface disease, including limbal stem cell deficiency (LSCD), a rare and devastating condition that can result in chronic pain, profound vision loss, and blindness.
Robert formerly served as the Group Vice President and Head of Global Ophthalmology at Shire, which was acquired by Takeda, where he swiftly established a highly regarded reputation for Shire as a new company in the Ophthalmology and Optometry markets. He built the ophthalmic franchise and led the Xiidra® commercialization strategy that resulted in an industry leading launch, while overseeing the acquisition of four companies contributing to the franchise pipeline of innovative candidates aimed at improving vision-related quality. He is a seasoned ophthalmology executive who successfully launched two category-defining dry eye therapies, Xiidra® and Restasis®. Robert has previously held CEO roles across ophthalmic companies, where he progressed clinical-stage programs, led capital formation efforts, and consistently delivered value inflection points.
Robert holds a Master's and Bachelor of Science in Business Administration from Northeastern University in Boston, Massachusetts.
About Neuropathic Corneal Pain (NCP)
NCP is a condition that causes severe pain and sensitivity of the eyes, face, or head. The exact cause of NCP is unknown but is thought to result from nerve damage to the cornea combined with inflammation. NCP, which can exhibit as a severe, chronic, debilitating condition in patients suffering from a host of ophthalmic conditions, is presently treated, with limited success, by various topical and systemic treatments in an off-label fashion.
About Urcosimod (formerly called OK-101)
Urcosimod is a lipid conjugated chemerin peptide agonist of the ChemR23 G-protein coupled receptor which is typically found on immune cells of the eye responsible for the inflammatory response, as well as on neurons and glial cells in the dorsal root ganglion. Urcosimod has been shown to produce anti-inflammatory and pain-reducing activities in a mouse model of dry eye disease and in a corneal neuropathic pain mouse model, respectively. Urcosimod showed clear statistical significance in multiple endpoints in an earlier 240-patient Phase 2, multi-center, double-masked, placebo-controlled trial to treat dry eye disease, and OKYO recently announced positive data on NCP pain reduction in a randomized, placebo-controlled, double-masked Phase 2 trial involving 18 neuropathic corneal pain patients.
About OKYO
OKYO Pharma Limited (NASDAQ: OKYO) is a clinical-stage biopharmaceutical company developing innovative therapies for the treatment of neuropathic corneal pain (NCP) and inflammatory eye diseases, with ordinary shares listed for trading on the NASDAQ Capital Market. OKYO is focused on the discovery and development of novel molecules to treat neuropathic corneal pain and other ocular diseases. OKYO recently completed a successful phase 2 trial of its flagship drug urcosimod in patients with NCP and is currently planning a second larger, multicenter trial of urcosimod in NCP patients that is planned to start in Q1 2026.
For further information, please visit www.okyopharma.com.
For further inquiries:
OKYO Pharma Ltd
Paul Spencer, Business Development, and Investor Relations
+44 (0) 207 495 2379
Email: info@okyopharma.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/24209bfe-85c2-4d55-b06d-547e5840ff78
FAQ
Who is the new CEO of OKYO Pharma (OKYO) and when did the appointment take effect?
What experience does Robert J. Dempsey bring to OKYO Pharma (OKYO)?
What change occurred to Gary S. Jacob's role at OKYO Pharma (OKYO)?
How does Robert Dempsey’s Xiidra deal experience relate to OKYO Pharma’s strategy (OKYO)?
Will the CEO change affect development of urcosimod at OKYO Pharma (OKYO)?
