OKYO Pharma Today Announces Director Acquires Shares
OKYO Pharma Limited (NASDAQ: OKYO; LSE: OKYO) announced that Panetta Partners Limited, associated with Executive Chairman Gabriele Cerrone, purchased 12,500 American Depositary Shares (ADSs) on NASDAQ for $1.32 each on March 27, 2023. This transaction reflects a significant investment in the company focused on developing OK-101, a treatment for dry eye disease aimed at addressing unmet needs in a multi-billion-dollar market. The purchase indicates the confidence of the Chairman in the company's potential, as it expands its focus on ophthalmology and chronic pain treatments.
- Acquisition of 12,500 ADSs indicates strong insider confidence in the company's future.
- Development of OK-101 targets a significant unmet need in a multi-billion-dollar market.
- None.
LONDON and NEW YORK, March 29, 2023 (GLOBE NEWSWIRE) -- OKYO Pharma Limited (Nasdaq: OKYO; LSE: OKYO) (“OKYO” or the “Company“), an ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease (“DED“) to address the significant unmet need in this multi-billion-dollar market, today announces that it has been notified that Panetta Partners Limited, an entity in which Gabriele Cerrone, the Executive Chairman has a beneficial interest, purchased 12,500 of the Company's ADSs on NASDAQ at a price of US
| 1. | Details of PDMR / person closely associated | |
| a) | Name | Gabriele Cerrone |
| 2. | Reason for the notification | |
| a) | Position / status | Chairman |
| b) | Initial notification /amendment | Initial notification |
| 3. | Details of the issuer | |
| a) | Name | OKYO Pharma Limited |
| b) | LEI | 213800VVN5CB56Y15A05 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument | ADSs representing 65 Ordinary Shares of no par value |
| b) | Identification code of the Financial Instrument | ISIN for OKYO Pharma Limited GG00BD3FV870 |
| c) | Nature of the transaction | Market Purchase |
| d) | Price(s) and volume(s) | |
| f) | Date of the transaction | 27 March 2023 |
| g) | Place of the transaction | NASDAQ |
Enquiries:
| OKYO Pharma Limited | Gary S. Jacob, Chief Executive Officer | +44 (0)20 7495 2379 |
| Investor Relations | Paul Spencer | +44 (0)20 7495 2379 |
| Broker | Robert Emmet, Optiva Securities Limited | +44 (0)20 3981 4173 |
Notes for Editors:
About OKYO
OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO) is a life sciences company admitted to listing on NASDAQ and on the standard segment of the Official List of the UK Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc. OKYO is focusing on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain. For further information, please visit www.okyopharma.com.
About OK-101
OK-101 is a lipid conjugated chemerin peptide antagonist of the ChemR23 G-protein coupled receptor which is typically found on immune cells of the eye responsible for the inflammatory response. OK-101 was developed using a membrane-anchored-peptide (MAP) technology to produce a novel long-acting drug candidate for treating dry eye disease. OK-101 has been shown to produce anti-inflammatory and pain-reducing activities in mouse models of dry eye disease and corneal neuropathic pain; and is designed to combat washout through the inclusion of the lipid ‘anchor’ contained in the candidate drug molecule to enhance the residence time of OK-101 within the ocular environment.
FAQ
What recent transaction occurred involving OKYO on March 27, 2023?
What is the significance of the recent purchase of OKYO shares?
What is OK-101 being developed for?
