OKYO Pharma Limited announces – GuruFocus.com
LONDON, May 19, 2022 (GLOBE NEWSWIRE) — OKYO Pharma Limited (OKYO, LSE: OKYO) (“OKYO Pharma” or the “Company”), a life sciences company focused on the discovery and development of novel molecules to treat inflammatory infections dry eye disease and eye pain, today announced the closing of its underwritten public offering of 625,000 American Depository Shares (the “ADSs”) at a public offering price of $4.00 per share, for gross proceeds of $2.5 million, before underwriting discounts and offering expenses.
OKYO intends to use the net proceeds of this offering: (i) to advance OK-101 to the filing of an IND to process the DED; (ii) fund the initial Phase 2 clinical trial of OK-101 in DED patients; and (iii) for working capital and other general business purposes.
ThinkEquity acted as sole bookkeeping manager for the offering.
A registration statement on Form F-1 (File No. 333-263326) relating to the shares has been filed with the Securities and Exchange Commission (“SEC”) effective May 16, 2022. This offering is made only through a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected]
This press release does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification. under the securities laws of such state or territory.
About OKYO Pharma Limited
OKYO Pharma Limited (OKYO, LSE: OKYO) is a life sciences company developing next-generation therapies to improve the lives of patients suffering from inflammatory eye diseases and eye pain. OKYO’s research program is focused on a novel G-protein-coupled receptor, or GPCR, which OKYO believes plays a key role in the pathology of these inflammatory eye diseases that present an unmet medical need. OKYO’s therapeutic approach focuses on targeting the inflammation and pain modulating pathways underlying these conditions. The Company is currently developing OK-101, its lead preclinical product candidate, for the treatment of dry eye disease “DED”. The Company also plans to evaluate its potential for the benefit of patients suffering from ocular neuropathic pain, uveitis and allergic conjunctivitis.
Certain statements made in this announcement are forward-looking statements, including with respect to the creation of a trading market for ADSs representing common stock in the United States. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections regarding its industry; his beliefs; and assumptions. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the Company’s control, are difficult to predict and could cause actual results differ materially from those expressed or anticipated. in forward-looking statements, including market conditions. We therefore advise you not to rely on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement or other litigation brought against us; competition from other suppliers and products; our ability to develop and market products and services; changes in government regulations; our ability to complete capital raising transactions; and other factors relating to our industry, operations and results of operations. . The Company cautions securityholders and potential securityholders not to place undue reliance on these forward-looking statements, which reflect the Company’s views only as of the date of this announcement. Forward-looking statements made in this announcement relate only to events as of the date the statements are made. The Company undertakes no obligation to publicly release revisions or updates to these forward-looking statements to reflect unforeseen events, circumstances or developments occurring after the date of this announcement, except as required by law or any applicable regulatory authority. ‘required.
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