OKYO Pharma Ltd (NASDAQ:OKYO) announced that the first patient has been dosed in the Phase 2 trial of its investigational therapeutic topical OK-101 to treat neuropathic corneal pain (NCP).
Shares of OKYO Pharma surged on the update, adding 20.4% at $1.24 in the early afternoon on Wednesday.
NCP, which is believed to be caused by nerve damage to the cornea combined with inflammation, causes pain and sensitivity of the eyes, face or head.
It lacks a Food and Drug Administration (FDA)-approved treatment, currently treated by various topical and systemic treatments in an off-label fashion.
OKYO Pharma's trial, the first of its kind targeting NCP, involves 48 patients and is a 12-week, randomized, placebo-controlled study
The research is being led by ocular pain expert and OK-101 co-inventor Dr Pedram Hamrah of the Tufts Medical Center.
“Enrolling the first patient in this clinical trial is an important first step towards our goal of determining the safety and efficacy of OK-101 for the treatment of NCP,” Dr Hamrah said.
“There is a significant, unmet need for an approved therapy to help mitigate eye pain in patients with NCP around the world. We look forward to continuing to advance recruitment in the coming weeks and months, and to rigorously evaluate this experimental therapy in this patient population.”
Dr Gary Jacob, OKYO Pharma CEO, also welcomed the milestone.
“This is a key step forward in our mission to provide relief for patients suffering from neuropathic corneal pain, a chronic condition for which no FDA-approved treatments exist today,” Dr Jacob said.
“OK-101 represents a potential breakthrough in the treatment of this condition, and we remain committed to advancing its development with the goal of delivering a novel therapeutic option to patients in need.”
- Updated with share price movement -