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LONDON - OKYO Pharma Limited (NASDAQ: OKYO), a biopharmaceutical firm engaged in developing treatments for ocular conditions, has announced the purchase of additional shares by Gabriele Cerrone, the company's Executive Chairman. On a recent trading day, Cerrone acquired 35,000 ordinary shares at $1.00 each through Panetta Partners Limited, a connected entity. This transaction increases Cerrone's total holdings to 9,671,570 shares, representing 28.58% of OKYO's issued share capital.
The company is currently advancing its clinical-stage pipeline, including its lead candidate OK-101, aimed at addressing inflammatory dry eye disease (DED) and neuropathic corneal pain (NCP), conditions that currently have limited therapeutic options. OK-101 is a lipid conjugated chemerin peptide agonist targeting the ChemR23 receptor, which plays a role in ocular inflammation. The drug's design integrates a lipid anchor to enhance retention within the eye, potentially offering sustained relief from inflammation and pain.
OKYO recently reported positive results from a Phase 2, double-blind, placebo-controlled trial evaluating OK-101 for the treatment of DED. The study met multiple endpoints, suggesting the drug's potential efficacy. Building on these findings, OKYO plans to initiate a Phase 2 trial for OK-101 in patients suffering from NCP, a condition without an FDA-approved therapy.
As a clinical-stage entity, OKYO Pharma is focused on the discovery and development of novel molecules to treat ocular diseases, particularly those involving inflammation and pain. The company's efforts are part of a broader push within the biopharmaceutical industry to address unmet medical needs in the multi-billion-dollar market of eye care.
The recent share acquisition by Cerrone underscores confidence in the company's strategic direction and its pipeline's potential. The information regarding this transaction is based on a press release statement issued by OKYO Pharma Limited. Investors and interested parties can find further details about the company's ongoing research and development activities on their official website.
In other recent news, OKYO Pharma Ltd has been making noteworthy strides in its operations. Executive Chairman, Gabriele Cerrone, has significantly increased his stake in the company, acquiring an additional 35,000 ordinary shares, bringing his total holdings to 9,671,570 shares. This investment underscores the chairman's confidence in OKYO Pharma's direction and potential.
In terms of research and development, OKYO Pharma has 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 strategic move enhances the company's intellectual property portfolio and supports its ongoing research activities. OKYO Pharma is also gearing up to initiate a Phase 2 trial for its drug candidate, OK-101, which aims to treat NCP, a condition currently lacking an FDA-approved therapy.
H.C. Wainwright analysts have maintained a positive outlook on OKYO Pharma, reiterating a Buy rating. This rating reflects the potential of OK-101 to become the first FDA-approved therapy for NCP. Furthermore, the company has identified conjunctival staining and ocular pain as potential primary endpoints for future trials, a decision guided by a comprehensive review of Phase 2 trial data.
In addition, OKYO Pharma has announced its participation in the upcoming H.C. Wainwright 4th Annual Ophthalmology Virtual Conference, signifying its ongoing efforts to communicate with investors and industry professionals about its latest research and development activities. These developments underscore OKYO Pharma's commitment to advancing its pipeline of therapeutics and addressing unmet medical needs in ophthalmology.
InvestingPro Insights
Amidst the recent developments at OKYO Pharma Limited, including the purchase of additional shares by Executive Chairman Gabriele Cerrone, investors may find the following data from InvestingPro to be of interest. The company's market capitalization currently stands at approximately $34.85 million, which can offer an insight into the company's size and market value in the biopharmaceutical landscape.
InvestingPro Tips highlight that OKYO Pharma has been grappling with challenges, including weak gross profit margins, as evidenced by a gross profit of -$7.51 million over the last twelve months as of Q4 2024. This financial metric is crucial for investors to consider as it reflects the company's efficiency in managing its production costs and could impact its long-term profitability. Additionally, the stock's performance has shown significant volatility, with a 1-month price total return of -37.95%, which may indicate a level of risk for short-term investors.
Further scrutiny of the company's financial health reveals that it has not been profitable over the last twelve months, with a negative P/E ratio of -1.75 and an adjusted P/E ratio of -2.07 during the same period. These figures suggest that investors are dealing with a company that is yet to reach profitability, which is not uncommon in the clinical-stage biopharmaceutical sector where upfront costs for research and development can be substantial before any revenues from product sales are realized.
For individuals interested in a deeper analysis of OKYO Pharma's financials and strategic outlook, InvestingPro offers additional tips on their platform, providing a comprehensive tool for those looking to make informed investment decisions.
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