OKYO Pharma (OKYO)

Executive Summary

OKYO Pharma Ltd. is a UK-based, NASDAQ-listed biopharmaceutical company developing novel therapies for ocular surface diseases, with a focus on its lead candidate Urcosimod (formerly OK-101), a first-in-class chemerin receptor agonist. The company has completed a Phase 2 trial of OK-101 for Dry Eye Disease (DED, NCT05759208) and terminated a Phase 2 trial for Neuropathic Corneal Pain (NCP, NCT06637527), signaling a strategic refocus on DED. Given the significant unmet need and multi-billion-dollar market for DED, OKYO is poised to advance Urcosimod into late-stage development. The company's valuation of approximately $84 million reflects its early-stage status, but upcoming data readouts and regulatory interactions could drive significant value.

Upcoming Catalysts (preview)

• Q3 2026Phase 3 trial initiation for Urcosimod in Dry Eye Disease40% success
• Q2 2026FDA end-of-Phase 2 meeting or special protocol assessment50% success
• TBDPartnership or licensing deal for Urcosimod30% success