OKYO Pharma's CEO and Executive Chairman purchased shares, increasing their stake as the company develops treatments for eye conditions.
Quiver AI Summary
OKYO Pharma Limited, a clinical-stage biopharmaceutical company focused on developing therapies for neuropathic corneal pain and inflammatory dry eye disease, announced that CEO Gary S. Jacob purchased 10,000 shares of the company's stock at $1.04 each, while Panetta Partners Limited, associated with Executive Chairman Gabriele Cerrone, bought 20,000 shares at the same price. Following this acquisition, Cerrone's total shareholding in OKYO increases to 9,871,570 shares, representing 28.96% of the company’s issued share capital. OKYO is engaged in discovering and developing treatments for these conditions, with ongoing clinical trials for its lead product, OK-101.
Potential Positives
- The Chief Executive Officer, Gary S. Jacob, demonstrated confidence in the company's future by purchasing 10,000 ordinary shares, signaling a positive outlook to investors.
- Executive Chairman, Gabriele Cerrone, increased his stake in the company to 28.96% of the issued share capital, indicating strong personal investment and commitment to the company’s growth.
- OKYO Pharma is actively developing therapies for conditions that lack FDA-approved treatments, presenting a significant market opportunity in the multi-billion-dollar dry eye disease market.
- The company is advancing its clinical trials, with completed Phase 2 trials for OK-101 in dry eye disease and ongoing trials for neuropathic corneal pain, reflecting progress in its drug development pipeline.
Potential Negatives
- The share purchase by the CEO and Executive Chairman may signal a lack of confidence from the executives in the company's current market performance, as they feel the need to invest at a relatively low share price of $1.04, which could raise concerns among investors about the company’s future prospects.
- The lack of information on partnerships, funding, or advancements in clinical trials could suggest stagnation in the company’s growth and product development, potentially impacting investor confidence.
- Though the company is involved in promising markets such as neuropathic corneal pain and inflammatory dry eye disease, the ongoing clinical stage may raise concerns about the timeline for profitability and market entry for their therapies, particularly in a competitive landscape.
FAQ
What recent share purchases were made by OKYO Pharma executives?
Gary S. Jacob, CEO, purchased 10,000 shares, while Gabriele Cerrone acquired 20,000 shares at $1.04 each.
What percentage of shares does Gabriele Cerrone hold in OKYO Pharma?
Gabriele Cerrone holds 9,871,570 shares, which is 28.96% of the company's issued share capital.
What conditions are targeted by OKYO Pharma’s therapies?
OKYO Pharma is developing therapies for neuropathic corneal pain (NCP) and inflammatory dry eye disease (DED).
What is the significance of OKYO Pharma's recent share purchases?
The share purchases by executives may signal confidence in the company's future performance and ongoing clinical trials.
What is the status of OKYO Pharma's clinical trials?
OKYO has completed a Phase 2 trial for OK-101 in DED patients and is currently evaluating it for NCP in another Phase 2 trial.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$OKYO Hedge Fund Activity
We have seen 1 institutional investors add shares of $OKYO stock to their portfolio, and 3 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CITADEL ADVISORS LLC added 14,876 shares (+inf%) to their portfolio in Q3 2024, for an estimated $15,173
- HSBC HOLDINGS PLC removed 11,933 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $12,171
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 11,123 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $11,345
- UBS GROUP AG removed 1,379 shares (-72.4%) from their portfolio in Q3 2024, for an estimated $1,406
- BARCLAYS PLC added 0 shares (+0.0%) to their portfolio in Q3 2024, for an estimated $0
- CONTINUUM ADVISORY, LLC added 0 shares (+0.0%) to their portfolio in Q3 2024, for an estimated $0
- GEODE CAPITAL MANAGEMENT, LLC added 0 shares (+0.0%) to their portfolio in Q3 2024, for an estimated $0
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LONDON and NEW YORK, Jan. 31, 2025 (GLOBE NEWSWIRE) -- OKYO Pharma Limited (NASDAQ: OKYO), a clinical-stage biopharmaceutical company developing innovative therapies for the treatment of neuropathic corneal pain (NCP), a severe ocular condition without an FDA approved therapy, and for inflammatory dry eye disease (DED), a multi-billion-dollar market, announced today that it has been notified that the Chief Executive Officer, Gary S. Jacob, has purchased 10,000 of the Company’s ordinary shares on NASDAQ at a price of US$1.04 per share.
We have also been notified that Panetta Partners Limited, an entity in which Gabriele Cerrone, the Executive Chairman, has a beneficial interest, purchased 20,000 of the Company’s ordinary shares on NASDAQ at a price of US$1.04 per share. This brings the total shareholding of Mr. Cerrone to 9,871,570 shares which is 28.96% of issued share capital.
About OKYO
OKYO Pharma Limited (NASDAQ: OKYO) is a clinical stage biopharmaceutical company developing innovative therapies for the treatment of NCP and DED, with ordinary shares listed for trading on the NASDAQ Capital Market. OKYO is focused on the discovery and development of novel molecules to treat NCP and inflammatory DED. In addition to the completed Phase 2 trial of OK-101 to treat DED patients, OKYO is also currently evaluating OK-101 to treat NCP patients in a Phase 2 trial.
Enquiries: | ||
OKYO Pharma Limited | Gary S. Jacob, Chief Executive Officer | U.S. 917-497-7560 |
Business Development & Investor Relations | Paul Spencer |
+44 (0)20 7495 2379
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