OKYO Pharma Ltd (NASDAQ:OKYO) disclosed today that Executive Chairman Gabriele Cerrone has increased his stake in the company through a purchase of additional shares. Panetta Partners Limited, where Cerrone has a beneficial interest, acquired 50,000 ordinary shares at a price of $1.05 per share on the NASDAQ.
Following this transaction, Cerrone's total shareholding in OKYO Pharma has risen to 9,721,570 shares, representing 28.73% of the company's issued share capital.
The purchase by Panetta Partners Limited demonstrates a significant investment by Cerrone in the biopharmaceutical company, which specializes in biological products.
The information provided in this report is based on the latest Form 6-K filed with the U.S. Securities and Exchange Commission (SEC) by OKYO Pharma. The filing, dated today, includes the details of the share acquisition as well as the new total percentage of ownership held by Cerrone.
The Form 6-K is a report of foreign private issuers required by the SEC, which OKYO Pharma submits in compliance with U.S. securities laws. The filing is a standard procedure for foreign companies like OKYO Pharma, which is headquartered in London, to update the SEC and the public on significant corporate events.
The company's business address is listed as 55 Park Lane, London, W1K 1NA, with a business phone number of 44 (0) 207 495 2379. OKYO Pharma's principal executive office is located at 9th Floor, 107 Cheapside, London, EC2V 6DN.
InvestingPro Insights
OKYO Pharma Ltd (NASDAQ:OKYO) has been in the spotlight recently with Executive Chairman Gabriele Cerrone increasing his stake in the company. To provide further context to investors considering OKYO's prospects, here are some insights based on real-time data and InvestingPro Tips.
InvestingPro Data highlights that OKYO Pharma has a market capitalization of $35.19 million, indicating the size of the company in the financial markets. Despite the recent insider buying, it's important to note that the company has a negative price-to-earnings (P/E) ratio of -1.83, and this figure has further declined to -2.09 when adjusted for the last twelve months as of Q4 2024. This suggests that the company is not currently profitable. Additionally, the gross profit for the same period stands at -$7.51 million, reflecting challenges in generating positive earnings.
InvestingPro Tips for OKYO reveal that the company suffers from weak gross profit margins and has not been profitable over the last twelve months. These factors are crucial for potential investors to consider as they assess the company's financial health and future potential. Moreover, the stock price often moves in the opposite direction of the market, which could imply higher volatility or a decoupling from broader market trends.
Furthermore, the company does not pay a dividend, which might be a consideration for income-focused investors. For those interested in a deeper dive into OKYO's financials and future outlook, additional InvestingPro Tips can be found at https://www.investing.com/pro/OKYO. There, investors can access a comprehensive list of tips to aid in their evaluation of the company's investment potential.
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