OKYO PHARMA LTD Stock Price, News & Analysis

OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO) has announced the activation of its first clinical trial site in the U.S. for a phase 2 study of its ophthalmic solution, OK-101, aimed at treating dry eye disease. The trial is a multi-center, randomized, double-blinded, placebo-controlled study designed to evaluate the efficacy and safety of OK-101. The first patient visit is anticipated within two weeks. CEO Gary S. Jacob emphasized the company's commitment to advancing OK-101’s development, noting that dry eye disease affects approximately 700 million people globally. OK-101 is a novel long-acting drug candidate developed to alleviate inflammation and pain associated with dry eye conditions.

OKYO Pharma Ltd. (NASDAQ:OKYO) is advancing towards its first phase 2 trial of the drug OK-101, with plans to release efficacy data by year-end 2023. To facilitate this, the company announced a private stock placement aimed at raising $5.7 million through the issuance of over 12 million shares (American Depositary Shares and Ordinary Shares). Notably, senior management has opted to take shares as compensation for deferred wages, showcasing their confidence in the company’s future. The phase 2 trial, set to commence in Q2 2023, focuses on treating chronic dry eye disease, a significant market valued at over $5 billion in 2019. The company collaborates with contract research organizations for efficient research execution.

OKYO Pharma Limited (Nasdaq: OKYO) has announced the posting of a shareholder circular detailing the proposed cancellation of its ordinary shares from the Official List of the Financial Conduct Authority and the main market of the London Stock Exchange. The General Meeting is scheduled for May 3, 2023, where shareholders will vote on consolidating every 65 existing ordinary shares into one new share. This move aligns with the company's aim to enhance its share structure in light of its ongoing development of OK-101 for treating dry eye disease.

OKYO Pharma Limited (Nasdaq: OKYO; LSE: OKYO) has announced a voluntary delisting of its Ordinary Shares from the London Stock Exchange due to negligible trading volumes and associated costs. The delisting is expected to become effective on May 12, 2023. The company will consolidate 65 existing Ordinary Shares into one new ordinary share, aligning with its current American Depositary Shares (ADS) ratio. Following the delisting, current ADS holders will automatically receive the new ordinary shares without needing to take action. Further details will be provided in a circular to shareholders prior to the delisting.

OKYO Pharma Limited (NASDAQ: OKYO; LSE: OKYO) announced that Panetta Partners Limited, associated with Executive Chairman Gabriele Cerrone, purchased 12,500 American Depositary Shares (ADSs) on NASDAQ for $1.32 each on March 27, 2023. This transaction reflects a significant investment in the company focused on developing OK-101, a treatment for dry eye disease aimed at addressing unmet needs in a multi-billion-dollar market. The purchase indicates the confidence of the Chairman in the company's potential, as it expands its focus on ophthalmology and chronic pain treatments.

OKYO Pharma Limited (Nasdaq: OKYO; LSE: OKYO) announced a purchase of 10,000 American Depositary Shares (ADSs) at $1.40 each by Panetta Partners Limited, associated with Executive Chairman Gabriele Cerrone. This transaction, valued at $14,000, is significant in the context of OKYO's development of OK-101, a treatment for dry eye disease in a burgeoning market. The purchase reflects confidence in OKYO’s strategy amidst the pressing need for innovative solutions in ophthalmology. The transaction took place on March 23, 2023, on the NASDAQ.

OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO), an ophthalmology-focused bio-pharmaceutical company, announced the posting of its planned clinical trial for OK-101 to treat dry eye disease (DED) on ClinicalTrials.gov (Identifier: NCT05759208). The company is activating clinical sites and preparing the trial drug for shipment, anticipating the first-patient visit in early Q2 2023, with top-line data expected in Q4 2023. CEO Gary S. Jacob expressed optimism about OK-101 providing a new treatment option for DED patients who lack effective therapies.