OKYO Pharma Raises $20M to Fund Phase III Eye Trial
OKYO Pharma has priced a $20 million equity offering to finance its Phase III clinical trial of its lead ocular therapy for dry eye disease. The capital infusion will underwrite trial expenses, regulatory filings and bolster working capital, extending the company's financial runway through upcoming clinical milestones.
1. Offering Details
OKYO Pharma has priced a public equity offering of $20 million, issuing new shares to institutional investors at market terms to strengthen its balance sheet.
2. Use of Proceeds
Net proceeds will underwrite late-stage clinical expenses, cover regulatory submission costs and support general working capital requirements for the ocular therapy program.
3. Clinical Trial Status
The funding specifically backs OKYO's Phase III trial of its lead ocular treatment for dry eye disease, which is currently enrolling patients ahead of pivotal efficacy analysis.
4. Financial and Strategic Impact
The capital raise extends OKYO's cash runway through key development milestones, though issuance of new shares will increase share count and impact per-share metrics.