OKYO Pharma switches ATM facility to Leerink Partners

OKYO Pharma Limited (NASDAQ: OKYO) announced it has transitioned its at-the-market equity offering facility to Leerink Partners LLC as the sales agent, replacing its previous arrangement with B. Riley Securities Inc.

The clinical-stage biopharmaceutical company, which develops therapies for neuropathic corneal pain and inflammatory eye diseases, said the ATM facility allows it to sell common shares directly into the market at prevailing prices, subject to market conditions and company discretion.

"Leerink's deep expertise in the biotech sector, proven track record in executing ATM programs, and strong relationships in the investor community make them an ideal partner as we advance our pipeline, including our lead candidate urcosimod for neuropathic corneal pain," said Keeren Shah, Chief Financial Officer of OKYO Pharma.

Under the arrangement, Leerink Partners will serve as the exclusive sales agent and receive a commission equal to 3.0% of gross proceeds from any shares sold. Sales will be made pursuant to a prospectus supplement and accompanying base prospectus filed with the Securities and Exchange Commission.

OKYO Pharma completed a phase 2 trial of urcosimod in patients with neuropathic corneal pain and plans to initiate a phase 2b/3 multiple-dose study with approximately 150 subjects in the first half of this year, according to the company statement.

The company's ordinary shares are listed on the Nasdaq Capital Market.

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