OKYO Pharma Limited has priced a public offering of 10.8 million ordinary shares at $1.85 per share, generating approximately $20 million in gross proceeds, with potential proceeds reaching $23 million should underwriters exercise their full option to purchase additional shares. The biopharmaceutical company intends to deploy the capital toward advancing its clinical pipeline, with particular emphasis on accelerating development programs for its lead therapeutic candidate.
The company's primary focus will be funding a Phase 2b/3 clinical trial of urcosimod, its investigational treatment for neuropathic corneal pain—a condition characterized by pain sensation in the cornea without apparent tissue damage. This pivotal-stage trial represents a critical inflection point in the product's development trajectory toward potential commercialization.
Piper Sandler & Co. is serving as sole manager for the offering, which is expected to close on February 17, 2026, subject to customary closing conditions and regulatory approvals. The capital raise provides OKYO Pharma with financial resources to progress its clinical development initiatives and strengthen its operational foundation.