LONDON and NEW YORK - OKYO Pharma Limited (NASDAQ:OKYO), a biopharmaceutical company in the clinical stage, has been granted a key U.S. patent for its dry eye disease (DED) treatment, the firm announced on Tuesday. The patent, U.S. Patent No. 12,053,501, issued on August 6, covers the use of OK-101, the company's investigational therapy, for treating symptoms such as irritation, burning, and blurred vision in patients with DED.
The new patent is expected to bolster OKYO Pharma's intellectual property portfolio and support its ongoing efforts to address the substantial unmet medical needs in the treatment of DED and anterior ocular segment diseases, including neuropathic corneal pain (NCP), for which there is currently no FDA-approved therapy.
OK-101 is a lipid conjugated chemerin peptide agonist targeting the ChemR23 G-protein coupled receptor, which plays a role in the inflammatory response in the eye. Designed to resist washout and enhance ocular residence time, OK-101 has demonstrated anti-inflammatory and pain-reducing efficacy in mouse models. The drug recently achieved statistical significance in multiple endpoints in a Phase 2, multi-center, double-blind, placebo-controlled trial for the treatment of DED.
The company's CEO, Dr. Gary S. Jacob, expressed his delight at the patent issuance, stating it underscores the innovative potential of OK-101 to treat DED. He also mentioned that OKYO Pharma is actively seeking strategic partnerships and collaborations to expedite the development and commercialization of its pipeline candidates.
In addition to the Phase 2 trial for DED, OKYO Pharma is preparing for a Phase 2 trial of OK-101 to treat NCP. The company's focus remains on the discovery and development of novel molecules to treat inflammatory DED and ocular pain.
This news comes as part of OKYO Pharma's ongoing efforts to innovate in the ocular therapy space and to provide new options for patients with DED and NCP. The information provided is based on a press release statement from OKYO Pharma.
In other recent news, OKYO Pharma has been making significant strides in securing patents and developing treatments for ocular diseases. The company recently announced the grant of a key U.S. patent for its leading drug candidate, OK-101, aimed at treating symptoms of Dry Eye Disease (DED). This development bolsters OKYO Pharma's intellectual property portfolio in the competitive landscape of DED treatments.
The company also secured a key European patent for its chemerin analogs used in treating eye diseases, further strengthening its intellectual property holdings. In addition, OKYO Pharma is preparing to initiate a Phase 2 trial for OK-101, targeting Neuropathic Corneal Pain (NCP), a condition currently lacking an FDA-approved therapy.
In the corporate realm, Gabriele Cerrone, the company's Executive Chairman, has significantly increased his stake in OKYO Pharma, demonstrating confidence in the company's direction. 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. Lastly, the company's CEO, Dr. Gary S. Jacob, is scheduled to appear on Bloomberg TV, providing insights into the company's business strategy and ongoing projects.
InvestingPro Insights
Amidst the promising developments with its dry eye disease treatment, OKYO Pharma Limited (NASDAQ:OKYO) faces a challenging financial landscape. According to recent metrics from InvestingPro, OKYO has a market capitalization of $32.15 million and has been experiencing significant volatility in its stock price. Notably, the stock has seen a sharp decline over the past month, with a 30.19% drop in its price total return.
The company's financial health shows signs of strain, as highlighted by a negative P/E ratio of -1.68, indicating that OKYO is not currently profitable. This is further emphasized by the company's gross profit over the last twelve months as of Q4 2024, which stands at a negative $7.51 million. Additionally, the stock's price is at 30.94% of its 52-week high, with a previous close at $0.95, reflecting investor concerns and the company's ongoing challenges in the market.
InvestingPro Tips further reveal that OKYO suffers from weak gross profit margins and that its short-term obligations exceed its liquid assets. These factors, combined with the company's lack of profitability over the last twelve months and its decision not to pay dividends, may contribute to the stock's tendency to move in the opposite direction of the market. Investors interested in a deeper analysis can find more InvestingPro Tips on the company's profile at https://www.investing.com/pro/OKYO, which lists additional insights to consider.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.