OKYO Pharma Ltd (NASDAQ:OKYO) announced that it has been notified that Panette Partners Limited, an entity in which its chairman Gabriele Cerrone has a beneficial interest, has purchased 35,000 shares of the company at $1 each.
The company said the purchase brings Cerrone’s total shareholding to 9.67 million shares, or 28.58% of issued share capital.
OKYO Pharma is developing innovative ocular therapies for the treatment of inflammatory dry eye disease (DED) and anterior ocular segment diseases including neuropathic corneal pain (NCP), an ocular condition associated with pain but without a Food and Drug Administration (FDA)-approved therapy.
The company has plans underway for a Phase 2 trial involving its drug candidate OK-101 in patients with NCP.
OK-101 recently showed statistical significance in multiple endpoints in a Phase 2 trial targeting DED.