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Okyo Pharma (OKYO) stock jumps after positive dry eye trials

By David Burrows

10:13, 13 December 2021

Dry eye disease sufferer. Photo: Alamy
Dry eye disease sufferer. Photo: Alamy

London-listed Okyo Pharma saw its stock price jump in morning trading after providing a positive update on its drug candidate OK-101, proving pain and inflammation relief for dry eye disease (DED).

The stock was up 10% shortly after opening before – falling back to 7.14% to 7.5p late-morning.

Dr Pedram Hamrah, interim chair of ophthalmology, cornea specialist and clinician-scientist at Tufts Medical Center, Boston, who has collaborated on the project said: "Ocular pain, which can exhibit as a severe, chronic or debilitating condition in patients suffering from a host of ophthalmic conditions, is presently treated by various topical and systemic treatments in an off-label fashion."

No commercial treatments

He added: "However, there are no approved commercial treatments currently available for this condition, and we are excited about these positive results with OK-101 in our neuropathic corneal pain model of this disease."

GME

14.81 Price
-2.140% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.13

TSLA

240.30 Price
+0.200% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.10

COIN

134.91 Price
-3.860% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.17

NVDA

456.19 Price
-2.240% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.22

Raj Patil, PhD, chief scientific officer at Okyo said: "The pain-relieving potential of a dry eye drug is very important because a considerable number of dry eye patients with chronic inflammation suffer from ocular pain, and a burning and gritty sensation.

"The discovery of the pain reducing feature of OK-101, in addition to its known anti-inflammatory activity, offers the opportunity that our drug could potentially provide pain relief in addition to reducing ocular inflammation in the millions of patients suffering from DED."

Earlier this month, Okyo said it expected to start human studies with a Phase 2 clinical trial in DED patients in the fourth quarter of 2022.  

Read more: Oxford Biomedica (OXB) signs agreement with cancer group  

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The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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