OKYO Pharma Ltd (NASDAQ:OKYO) has announced it expects to see an increase in the number of patients enrolling on its dry eye disease clinical trial this summer.
Having announced the testing of drug OK-101 to treat the disease in May, OKYO chief executive Gary Jacob said in a Tuesday results statement that a “considerable enrolment” in the trial was expected.
He added that the group was on track to release top-line data from the trial in the fourth quarter of this year.
Jacob also proved optimistic about the drug’s potential for treating neuropathic corneal pain.
“There is presently no Food and Drug Administration-approved drug to treat neuropathic corneal pain,” he continued.
“We were pleased to recently announce our plan to open a small trial of OK-101 to treat patients with NCP at Tufts Medical Center in Boston.”
New York-listed OKYO reported a US$13.7 million loss for the year, down on 2022’s results, after higher research and development expenses.
The company ended the year with US$4 million in cash meanwhile, up from US$2.7 million a year earlier.
“We remain steadfast in our dedication to advancing ground-breaking ocular solutions that have the potential to transform patients' lives,” Jacob said.