OKYO Pharma Ltd (NASDAQ:OKYO), a biopharmaceutical company, disclosed today that its Executive Chairman, Gabriele Cerrone, has increased his stake in the company. The transaction involved the purchase of 50,000 ordinary shares for $1.03 per share through Panetta Partners Limited, an entity with a beneficial interest to Mr. Cerrone.
Following this acquisition, Mr. Cerrone's total shareholding in OKYO Pharma now stands at 9,851,570 shares, representing 29.12% of the company's issued share capital. The purchase was conducted on the NASDAQ stock exchange, as noted in the company's Form 6-K filing with the U.S. Securities and Exchange Commission.
This latest development in OKYO Pharma's corporate structure comes directly from a company statement and is shared in compliance with SEC regulations. The company, listed under the SIC code for Biological Products (except Diagnostic Substances), is headquartered in London and is subject to both U.S. and international financial reporting standards.
The article is based on an 8K filing.
In other recent news, OKYO Pharma's Executive Chairman, Gabriele Cerrone, recently increased his stake in the company, purchasing 80,000 ordinary shares through Panetta Partners Limited, bringing his total ownership to 9,801,570 shares.
This move coincides with OKYO Pharma's preparation for a Phase 2 trial of OK-101, a potential treatment for neuropathic corneal pain (NCP), a condition currently lacking an FDA-approved therapy. OKYO Pharma has also secured crucial U.S. patents for OK-101, bolstering its intellectual property portfolio.
In addition, OKYO Pharma's CEO, Dr. Gary S. Jacob, is set to appear on Bloomberg TV, offering insights into the company's business strategy and ongoing projects. Analysts from H.C. Wainwright have maintained a Buy rating for OKYO Pharma, indicating the potential of OK-101 to become the first FDA-approved therapy for NCP.
InvestingPro Insights
Amidst the latest share purchase by OKYO Pharma Ltd's (NASDAQ:OKYO) Executive Chairman, Gabriele Cerrone, the company's financial health and stock performance metrics provide additional context for investors. According to InvestingPro data, OKYO Pharma has a market capitalization of $34.85 million and a negative P/E ratio, which suggests that the company is not currently profitable. The adjusted P/E ratio for the last twelve months as of Q4 2024 stands at -2.07, reflecting ongoing financial challenges.
InvestingPro Tips highlight several critical points for potential investors: OKYO Pharma's stock has recently taken a significant hit, with a one-week total price return showing a decrease of 10.43%. The company also struggles with weak gross profit margins, as evidenced by a gross profit of -$7.51 million for the same period. Additionally, the company's short-term obligations exceed its liquid assets, which may raise concerns about its financial stability in the near term.
For those considering an investment in OKYO Pharma, these insights suggest caution. The company has not been profitable over the last twelve months and does not pay a dividend to shareholders, which could be significant factors for investors seeking stable returns. For a more comprehensive analysis, including additional InvestingPro Tips, interested parties can visit https://www.investing.com/pro/OKYO.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.