OKYO Pharma Ltd confirmed the timeline for a phase II study of its lead asset OK-101, which is being developed to treat dry eye disease.
In commentary alongside its interim results, the group said the clinical evaluation is expected to get underway in the fourth quarter of this year, once the investigational new drug filing is approved.
It will be overseen by trial specialist Ora Inc, which will help recruit 100 dry eye disease sufferers, and will take six to eight months to complete.
OKYO has found that OK-101 has a dual mode of action that tackles both inflammation and pain.
In the update, which showed the group had £3.8mln of cash as at September 30 and assets of £4.2mln, the company said it was postponing for the ‘time being’ work on its other asset, OK-201, to focus solely on OK-101.
The total operating loss for the period was £1.9mln as OKYO invested heavily investing in research and development activities.