24/7 Market News Snapshot 23 October, 2024 – OKYO Pharma Limited Ordinary Shares (NASDAQ:OKYO)

October 23, 2024

DENVER, Colo., 23 October, 2024 (247marketnews.com) – (NASDAQ:OKYO) are discussed in this article.
OKYO Pharma Limited has recently experienced significant market momentum, with its ordinary shares opening at $1.22 and climbing to $1.24, representing a notable increase of over 20% from the previous closing price of $1.03. With a current trading volume exceeding 500,000 shares, market enthusiasm for the stock indicates strong investor interest and potential for further growth in the biopharmaceutical sector.

In addition to its impressive stock performance, OKYO Pharma has marked a pivotal advancement in its clinical research efforts. The company announced the successful dosing of the first patient in its Phase 2 clinical trial for OK-101, a novel treatment aimed at addressing Neuropathic Corneal Pain (NCP). This trial is particularly significant as it seeks to establish the first FDA-approved therapy for a condition that has long lacked adequate treatment options.

The Phase 2 study, which is structured as a double-masked, randomized, placebo-controlled trial, will involve 48 patients diagnosed with NCP. Through advanced confocal microscopy techniques, these conditions have been properly identified, allowing for a focused evaluation of OK-101’s safety and efficacy. This groundbreaking non-opioid therapeutic candidate is designed specifically to alleviate the severe pain resulting from corneal nerve damage, providing a critical option for patients currently dependent on ineffective and non-targeted pain relief strategies.

Dr. Pedram Hamrah from Tufts Medical Center, a prominent figure in ocular pain research and co-inventor of OK-101, is at the helm of this trial. His expertise bolsters the scientific integrity of the study, which aims to bring relief to those affected by severe ocular pain. Dr. Gary S. Jacob, CEO of OKYO Pharma, expressed optimism about this advancement, emphasizing the company’s commitment to developing innovative therapies for better patient outcomes in ocular health. As patient recruitment for the trial progresses, OKYO remains focused on addressing the significant unmet needs in the treatment of NCP.

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