OKYO Pharma’s lead asset receives USAN designation "urcosimod

OKYO Pharma Ltd (NASDAQ:OKYO), a biotechnology company with a market capitalization of $37 million specializing in the development of biological products, today announced that its principal compound, OK-101, has been granted the official United States Adopted Name (USAN) "urcosimod."

This development marks a significant milestone for the company’s lead asset as it advances through the clinical development process. According to InvestingPro analysis, OKYO’s stock is currently trading near its Fair Value, with analysts setting an ambitious price target of $7.

The assignment of a USAN, such as "urcosimod," is an essential step in the drug development and approval process, providing a unique, standardized name for a pharmaceutical substance. This designation is recognized globally and is used to identify the active ingredients in medications.

The USAN Council, in collaboration with the World Health Organization, health professionals, and scientists, assigns these names based on a set of established guidelines. The adoption of "urcosimod" for OK-101 will facilitate clearer communication among healthcare providers, regulators, and patients regarding this specific compound.

OKYO Pharma’s announcement was made in a formal SEC filing on Wednesday, February 12, 2025, underscoring the company’s commitment to transparency and regulatory compliance.

The information contained in the filing, including the newly assigned USAN, is based on a press release statement and is not considered filed under Section 18 of the Securities Exchange Act of 1934. It will not be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly stated in such filing.

The London-based company, listed under the biological products industry, has not disclosed further details regarding the clinical trials or potential market applications for "urcosimod."

While the naming of the compound indicates progress in its development pipeline, InvestingPro data reveals some financial challenges, including weak gross profit margins and short-term obligations exceeding liquid assets.

With a beta of -3.37, the stock often moves contrary to market trends, making it an interesting consideration for portfolio diversification.

OKYO Pharma’s focus on developing innovative biological products is part of a broader industry trend towards targeted therapies in medicine. As "urcosimod" moves forward in the development process, the company is expected to provide additional information on its clinical trials and potential therapeutic applications.

Investors should note that OKYO’s next earnings report is scheduled for February 26, 2025. For deeper insights into OKYO’s financial health and additional ProTips, consider exploring InvestingPro, which offers comprehensive analysis and real-time updates on biotechnology stocks.

In other recent news, OKYO Pharma Limited continues to make significant strides in its clinical developments, particularly with its Phase 2 trial of OK-101, a potential treatment for neuropathic corneal pain (NCP). H.C. Wainwright recently maintained its Buy rating on the company, setting a price target of $7.00.

The firm’s analyst, Yi Chen, highlighted that patient enrollment for the trial is expected to complete by the end of the second quarter of 2025, with top-line data anticipated in the fourth quarter of the same year.

In addition to these developments, OKYO Pharma insiders have shown their confidence in the company’s prospects by purchasing shares on the NASDAQ. The company’s CEO, Gary S. Jacob, acquired 10,000 shares, while Panetta Partners Limited, linked to Executive Chairman Gabriele Cerrone, bought 20,000 shares.

Furthermore, the company has secured $1.4 million in non-dilutive funding, aimed at bolstering its research and development efforts. This financial support will particularly benefit the company’s lead program, OK-101.

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