OKYO Pharma executive chairman increases stake

OKYO Pharma Ltd (NASDAQ:OKYO), a biotechnology company specializing in biological products, disclosed in a recent SEC filing that its Executive Chairman, Gabriele Cerrone, has increased his stake in the company. On Wednesday, Cerrone, through Panetta Partners Limited, an entity with his beneficial interest, acquired an additional 35,000 ordinary shares on the NASDAQ for $1.00 per share.

This purchase elevates Cerrone's total holdings to 9,671,570 shares, representing 28.58% of the company's issued share capital. The transaction underscores a significant investment by the chairman in the London-based company, reflecting a vote of confidence in its potential and direction.

The information from the SEC filing, dated August 21, 2024, clarifies that the details provided in Exhibit 99.1 of the report are for informational purposes and are not to be considered "filed" under Section 18 of the Securities Exchange Act of 1934. Furthermore, they should not be deemed incorporated by reference in any subsequent filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as explicitly stated.

This disclosure comes directly from a press release statement.

In other recent news, OKYO Pharma has been making significant strides in its drug development efforts. The biotechnology firm recently secured a key European patent for its chemerin analogs used in treating eye diseases, including dry eye disease (DED) and neuropathic corneal pain (NCP). This development strengthens OKYO Pharma's intellectual property portfolio and supports its research and development activities.

Moreover, the company is preparing to initiate a Phase 2 trial for its drug candidate, OK-101, to treat NCP, a condition currently without an FDA-approved therapy. This follows promising results from an earlier Phase 2 study in DED patients and supportive preclinical data.

Analysts from H.C. Wainwright have maintained a positive outlook on OKYO Pharma, reiterating a Buy rating. This reflects the potential of OK-101 to become the first FDA-approved therapy for NCP.

These recent developments represent a significant step in OKYO Pharma's efforts to bring new solutions to patients with challenging medical conditions.

InvestingPro Insights

In light of the recent share acquisition by OKYO Pharma Ltd's Executive Chairman, Gabriele Cerrone, investors may be interested in key financial metrics and expert analysis provided by InvestingPro. The company currently holds a market capitalization of approximately $34.85 million. However, the financial data suggests some challenges, with a negative price-to-earnings (P/E) ratio of -1.75, which further declined in the last twelve months as of Q4 2024 to -2.07. This indicates that the company is not currently profitable.

InvestingPro Tips highlight that OKYO Pharma suffers from weak gross profit margins and has not been profitable over the last twelve months. Additionally, the stock price has experienced a significant downturn, with a 1-month price total return of -37.95%, and the stock often moves contrary to the market. These factors are crucial for investors to consider when evaluating the company's stock in the context of recent insider buying activity.

For those looking for a more comprehensive analysis, InvestingPro offers additional tips on OKYO Pharma, providing deeper insights into the company's financial health and stock performance. These tips can be a valuable resource for investors making informed decisions.

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