Core Insights - Alcon's Vision Care business is benefiting from a diverse portfolio of contact lenses and ocular health products, while the Surgical business is expected to enhance top-line growth in upcoming quarters [1][3][4] - The company has faced an 8.4% decline year-to-date, compared to an 11.4% decline in the industry, while the S&P 500 has risen by 13.3% [2] - Alcon's market capitalization stands at $43.49 billion, with earnings surpassing estimates in three of the last four quarters, yielding an average surprise of 4.6% [2] Upsides for Alcon - The Surgical business is experiencing growth due to a diverse product portfolio and innovations, with flagship lenses like Vivity and PanOptix leading in the U.S. and globally [3] - Surgical revenues increased by 2% year-over-year in Q2, driven by a 6% growth in Consumables, particularly in international markets, alongside price increases [4] - Vision Care is returning to growth, with strong sales from contact lenses and ocular health products, including recent innovations like PRECISION7 and TOTAL30 [5] - The ocular health segment is performing well, particularly with the SYSTANE family of artificial tears, and the FDA approval of TRYPTYR 0.003% for Dry Eye Disease is expected to address a significant unmet need in the U.S. market [6][7] Downsides for Alcon - Alcon's operations are vulnerable to macroeconomic pressures, including ongoing conflicts in emerging markets that could disrupt the global supply chain and increase costs [8] - The company incurred $27 million in tariff-related charges in Q2 2025, with an expected full-year impact of approximately $100 million on its cost of sales [9][10] - The ophthalmology industry is highly competitive, with Alcon facing intense competition from both large and small manufacturers, as well as alternative therapies from pharmaceutical companies [11] Financial Estimates - The Zacks Consensus Estimate for Alcon's 2025 earnings per share has decreased by 0.3% to $3.09, while the revenue estimate is projected at $10.35 billion, indicating a 5.3% increase from the previous year [12]

Financial Data and Key Metrics Changes - The company has over $100 million in cash as of the last reporting, with guidance indicating cash availability through 2026, excluding any contributions from potential revenue [43][44] - The financial implications of the AbbVie deal are significant, with a potential upfront payment of $94 million if the option is exercised, plus additional milestones totaling $200 million [39][40] Business Line Data and Key Metrics Changes - The near-term investment thesis focuses on the dry eye disease program, with a PDUFA date set for April 2, 2025, following a resubmission of the NDA [4][15] - The long-term investment thesis includes a broader focus on immunology, targeting conditions such as atopic dermatitis and metabolic inflammation [6][7] Market Data and Key Metrics Changes - The dry eye market is expanding, driven by an aging population, increased screen time, and environmental factors, with approximately 40 million people in the U.S. affected [46][47] - The company is positioned to compete against established products like Restasis, which has seen declining sales due to the introduction of generics [48][49] Company Strategy and Development Direction - The company aims to leverage its partnership with AbbVie, which has extensive experience in the eye care market, to enhance its market presence and accelerate product development [50][51] - Future clinical trials are planned for conditions like retinitis pigmentosa and atopic dermatitis, with a focus on developing a once-daily oral treatment [60][63] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming PDUFA date and the potential for significant financial returns from the AbbVie partnership, contingent on drug approval [15][42] - The company is exploring the relationship between metabolic inflammation and its RASP platform, indicating a strategic pivot towards addressing broader inflammatory conditions [70] Other Important Information - The company has a robust pipeline focused on immunological diseases, with ongoing research into various conditions beyond dry eye, including liver and metabolic diseases [68][69] - The management highlighted the importance of patient-centric outcomes, particularly in addressing symptoms that affect quality of life, such as night blindness in dry AMD patients [56] Q&A Session Summary Question: Can the PDUFA date be moved up? - Management indicated that while they hope for a timely decision, the expectation is that the decision will align closely with the PDUFA date due to the complexities involved in the NDA resubmission [15] Question: How does reproxalap differentiate from other treatments? - The management explained that reproxalap is designed for chronic use, unlike steroids, which have limitations due to toxicity and are only indicated for short-term use [28] Question: What is the current state of the dry eye market? - The management noted that the dry eye market is primarily dominated by generics following the loss of exclusivity for Restasis, but there remains a significant opportunity for new therapies [48][49] Question: What are the next steps for the retinitis pigmentosa program? - The company plans to initiate a pivotal trial for its methotrexate formulation, with hopes of demonstrating efficacy in a patient population that currently lacks effective treatments [60][62] Question: What is the strategy for atopic dermatitis? - The management emphasized the development of a once-daily oral treatment for atopic dermatitis, which could appeal to patients, especially children, who prefer non-injection therapies [63][64]

As filed with the Securities and Exchange Commission on June 2, 2023. Registration Statement No. 333-272005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 1 to Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 OKYO Pharma Limited (Exact name of Registrant as specified in its charter) (I.R.S. Employer Identification Number) OKYO Pharma US, Inc. 420 Lexington Avenue, Suite 1405 New York, NY 10170 (917) 225-9646 (Name, address, including zip code, and telep ...