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LONDON and NEW YORK - OKYO Pharma Limited (NASDAQ: OKYO), a biopharmaceutical company specializing in the development of treatments for ocular conditions and currently valued at $37 million, has announced the official naming of its lead drug candidate, OK-101, as "urcosimod". According to InvestingPro data, while the company is pre-revenue and not yet profitable, analysts have set an ambitious price target of $7, suggesting significant upside potential if development milestones are met. The United States Adopted Name (USAN) Council has granted the name, signaling a key development in the drug’s advancement through clinical trials.
Urcosimod is designed to modulate inflammatory and neuropathic pathways, which are crucial in treating neuropathic corneal pain (NCP) and dry eye disease (DED). The USAN Council, responsible for the standardization of drug nomenclature, is a collaborative effort of the American Medical (TASE:PMCN) Association (AMA), the United States Pharmacopeial Convention (USP), and the American Pharmacists Association (APhA).
Gary S. Jacob, Ph.D., CEO of Okyo Pharma, expressed enthusiasm about the designation, emphasizing the importance of urcosimod in addressing the severe and chronic pain associated with NCP, a condition currently lacking FDA-approved treatments. Jacob highlighted the drug’s potential, citing its dual anti-inflammatory and analgesic properties that could address both symptoms and underlying causes of NCP.
Okyo Pharma’s innovative approach involves a lipid-conjugated small molecule platform that targets ocular G-protein coupled receptors (GPCRs), aiming to reduce inflammation and pain at the source. This strategy differentiates urcosimod from traditional ocular disease treatments.
The drug is currently undergoing a Phase 2 clinical trial for NCP, initiated in October 2024, with top-line results expected in Q4 2025. Previous Phase 2 trials for DED have shown promising results, demonstrating significant pain reduction and a favorable safety profile. With a beta of -3.37, OKYO’s stock tends to move independently of broader market trends, as noted in InvestingPro’s analysis (which includes 6 additional key insights for subscribers).
Urcosimod, formerly OK-101, is a lipid conjugated chemerin peptide agonist targeting the ChemR23 G-protein coupled receptor found on immune and neuronal cells. Developed to enhance ocular residence time and combat washout, urcosimod has shown efficacy in mouse models of dry eye disease and corneal neuropathic pain.
As a clinical stage biopharmaceutical company, OKYO Pharma continues its commitment to developing therapies for NCP and inflammatory DED. The company’s focus remains on addressing the unmet medical needs of patients with sight-threatening and quality-of-life-impacting conditions. Financial metrics from InvestingPro indicate some near-term challenges, with a current ratio of 0.28 suggesting tight liquidity, though the company maintains zero debt on its balance sheet. This news is based on a press release statement from OKYO Pharma Limited.
In other recent news, OKYO Pharma Limited’s principal compound, OK-101, has received the official United States Adopted Name (USAN) "urcosimod," marking a significant step in its clinical development process. The assignment of a USAN is a globally recognized designation, essential for the drug development and approval process. In analyst news, H.C. Wainwright has maintained its Buy rating on OKYO Pharma, citing the company’s ongoing clinical developments as a key factor.
In insider activity, OKYO Pharma’s CEO, Gary S. Jacob, and Executive Chairman Gabriele Cerrone, linked to Panetta Partners Limited, have recently acquired additional company shares. This insider activity may signal confidence in the company’s ongoing clinical programs and its future prospects. This development comes as OKYO Pharma advances in its clinical trial for OK-101, a drug candidate for neuropathic corneal pain (NCP) and dry eye disease (DED).
The company expects to complete patient enrollment for its Phase 2a trial by the end of the second quarter of 2025 and aims to release top-line data in the fourth quarter of the same year. These are recent developments that highlight OKYO Pharma’s progress in its clinical trials and its commitment to developing novel treatments for ocular conditions.
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