OKYO Pharma Announces Public Offering of Ordinary Shares

Company Overview - OKYO Pharma Limited is a clinical-stage biopharmaceutical company focused on developing therapies for neuropathic corneal pain (NCP) and inflammatory eye diseases [5] - The company is listed on the Nasdaq Capital Market and is dedicated to discovering and developing novel molecules for treating ocular diseases [5] Offering Details - The company announced an underwritten public offering of its ordinary shares, with all shares to be sold by the company [1] - The underwriter, Piper Sandler & Co., will have a 30-day option to purchase up to an additional 15% of the shares sold at the public offering price [1][2] - The net proceeds from the offering will primarily be used for clinical development of product candidates, general corporate purposes, and working capital [2] Clinical Development - OKYO recently completed a successful Phase 2 trial of its flagship drug, urcosimod, in patients with NCP [5] - The company plans to initiate a Phase 2b/3 multiple-dose study of urcosimod, targeting approximately 150 subjects in the first half of the year [5] Regulatory Information - The securities are being offered under a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) [3] - A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC and is available on their website [3]