OKYO Pharma Switches ATM Equity Facility to Leerink Partners with 3% Commission
OKYO Pharma has replaced B. Riley Securities with Leerink Partners LLC as sales agent for its at-the-market equity offering facility, securing access to capital markets for opportunistic share sales. The new program carries a 3.0% commission on gross proceeds and bolsters funding flexibility for ongoing clinical development of urcosimod.
1. ATM Facility Transition Details
OKYO Pharma transitioned its at-the-market equity offering facility to Leerink Partners LLC, replacing its previous arrangement with B. Riley Securities. This change designates Leerink as the exclusive sales agent for direct market share issuances at prevailing prices, subject to market conditions and company discretion.
2. Leerink Partners’ Role
Leerink Partners brings deep biotech sector expertise, a proven track record in ATM program execution and extensive investor relationships. Under the agreement, Leerink will receive a 3.0% commission on all gross proceeds from any shares sold under the facility.
3. Enhanced Financial Flexibility
The revised ATM program enables OKYO Pharma to raise capital opportunistically without committing to a fixed equity offering. This structure supports funding for the Phase 2b/3 multiple-dose study of urcosimod for neuropathic corneal pain and other ongoing corporate objectives.