OKYO Pharma chairman increases stake with 82,018 share purchase

OKYO Pharma Limited (NASDAQ: OKYO) announced that Panetta Partners Limited, an entity controlled by Executive Chairman Gabriele Cerrone, purchased 82,018 ordinary shares on NASDAQ. The acquisition brings Cerrone's total shareholding to 10,464,695 shares.

The London and New York-based biopharmaceutical company focuses on developing treatments for neuropathic corneal pain and dry eye disease. OKYO's primary drug candidate, urcosimod, targets neuropathic corneal pain, a condition that lacks FDA-approved therapy options.

Urcosimod is a lipid conjugated chemerin peptide agonist designed to treat ocular diseases using membrane-anchored-peptide technology. The company reports the drug candidate demonstrated statistical significance across multiple endpoints in a completed 240-patient Phase 2 trial for dry eye disease treatment.

OKYO recently completed a randomized, placebo-controlled, double-masked Phase 2 trial evaluating urcosimod for neuropathic corneal pain treatment. The drug candidate showed anti-inflammatory and pain-reducing activities in mouse models for both dry eye disease and corneal neuropathic pain.

The company's shares trade on the NASDAQ Capital Market. OKYO develops treatments for ocular conditions, with urcosimod incorporating a lipid anchor designed to enhance drug efficacy within the eye environment and combat washout effects.

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