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Shares of biotech Okyo Pharma (OKYO) rebounded by as much as a quarter following coverage of the company in the Mail On Sunday regarding the possibility of a new high profile scientist appointment. This made back some of the recent profit taking in the stock on hopes that the new arrival could deliver a fresh blockbuster treatement to the company. Indeed, it remained firm going into the close and the announcement soon after of final results for the year ending March 31 2020. Given the way that losses were revealed to be narrowed to £1.2m from £3.8m and that £1.9m had been used to buy Chemrein-101 license, traders expected that the latest recovery for the stock may continue. Okyo said it “will explore and identify novel BAM8 (OKYO-201) analogs” and that the main use “of the group’s funds was progressing the animal model trials for Chemerin and BAM8.”
https://zakmir.wordpress.com/2020/08/17/stock-market-watch-august-17/
17/08/2020 5:00pm
UK Regulatory (RNS & others)
Okyo Pharma (LSE:OKYO)
Intraday Stock Chart
Monday 17 August 2020
Click Here for more Okyo Pharma Charts.
TIDMOKYO
RNS Number : 3696W
OKYO Pharma Limited
17 August 2020
Final audited results for the year ended 31 March 2020
OKYO Pharma Limited (the "Company") is pleased to announce its final audited results for the year ended 31 March 2020.
Summary of OKYO-0101 studies during the last year
-- Preclinical studies have been performed to ensure the binding of Chem-9 and other related peptides to human primary corneal epithelial cell line (ATCC). The binding assays were developed.
-- This cell line was used to develop an assay for effect of Chem-9 on cytokine production. Cells were exposed to high osmolarity, conditions similar to that of the dysfunctional tear film found in dry eye disease, and cytokines expression was measured with or without Chem-9. This assay is being fine-tuned now and it will be used further preclinical discovery research.
-- This cell line was used to develop a cell line-based receptor binding assay, which would be used for characterization of Chem-9 peptide. Our goal is to determine binding affinity of Chem-9. This assay will also be used to determine sensitivity of Chem-9 to proteolysis with proteases.
-- An HPLC assay was developed which will be used for determination of peptide degradation products following storage at different temperatures and relative humidity (4oC, 250C and 40oC at 50 and 60 RH). This assay will be used for IND-enabling stability studies.
-- Peptide manufacturing process has been scaled up to produce larger quantities of Chem-9 for stability study.
-- A dose ranging study in rabbits was performed to evaluate the effect of Chem-9 on corneal permeability and to assess the local irritation. Chem-9 was found to be effective in reducing corneal permeability and it shown no sign of local irritation. Potency of Chem-9 in reducing corneal permeability was comparable to cyclosporine (Restasis(R); Allergan).
-- Rabbit Ocular tolerance tests using Chem-9 showed no adverse signs such as inflammation, chemosis or hyperemia and no signs of local irritation.
Future strategy of OKYO-201
-- During the coming year, we will explore and identify novel BAM8 (OKYO-201) analogs to strengthen the IP portfolio by synthesising additional peptides. Further, we will explore the use of OKYO-201 analogs for Ocular Pain, Uveitis associated pain and Neuropathic pain associated with dry eye in order to expand our portfolio. To support the future development of this portfolio, the Group established a Scientific Advisory Board in August 2020 which will be led by Dr A. James Khodabakhsh MD.
Financial Highlights
-- Total comprehensive loss of GBP1.2 million (31 March 2019: GBP3.8 million)
-- Cash balance at 31 March 2020 of GBP0.2 million (31 March 2019: GBP0.5 million).
-- Basic and diluted loss per share decr
On 29 May 2020, the Group announced that it had raised £440,000 through the issue of convertible loan notes ("CLNs"). £50,000 of the CLN's were issued to Panetta Partners Ltd, the ultimate parent company. The CLNs carry an interest rate of 20% compounding and have maximum term of 4 years. The CLNs convert into ordinary shares at a price of 0.4p per share and, if converted, the shares will be issued with a warrant attached at an exercise price of 0.4p (with a maximum life of 5 years from the date of issue of the CLN, regardless of the conversion date).
On 28 July 2020, the Group announced that it had raised £3.5m through the issuance of CLN's. The CLNs carry an interest rate of 2.15% compounding and have maximum term of 4 years. The CLNs convert into ordinary shares at a price of 8.5p per share. Conversion will be subject to shareholder approval and no conversions may take place prior to 28 February 2021.
Great price under 20p .
The smart money already here.
I think ackers has a chunk
The BOD have a great PR machine. ......
OKYO Pharma shares took a battering last week but investors might soon be on the receiving end of some welcome news.
Earlier this month, American eye surgeon Dr James Khodabakhsh joined the firm’s scientific advisory board as chairman. He is head of the Cedars-Sinai clinic in Beverly Hills, Los Angeles, which treats Hollywood stars and directors as well as popular singers.
Now City sources say the company - which is developing a treatment for dry eye - might see another high-profile healthcare scientist join in the next few weeks.
The new recruit is said to be the award-winning inventor of two drugs that generated sales of more than $11 billion.
This graph reminds me of TILS
Hefty buys now showing, news afoot?
is dire , my top up from over an hour ago is still not showing disgraceful way to manipulate the markets.
perked up nicely.
Wish I had bought in now! Kept ‘my eye’ on it and was waiting for price to fall back lol. Not now
Yeah if you ask on advfn chat then someone will most likely message you the link. Lse will remove it here, yet won’t remove the trouble makers.
Could I also be added please
Best
I'm trying to get into the telegram chat too. Having, can anyone assist?
Kindly include me in the telegram group. Thanks
Nice bod appointment hoping Gabrielle gets added here too.
Really care for health and shareholders ,if it's like tils expect a good news chain
Dr James Khodabakhsh MD named Chairman of the SAB
This means okyo really serious .
Great appointment to the advisory board.
Dr Kunwar Shailubhai done a podcast with dave gentry .
Sounds good for trials !
Sorry no link
You're happy with tils BOD I assume, and as you'll know Dr. Kunwar Shailubhai is a Non Exec Director in Okyo, do you not trust him ?
Is this stock list in usa?
If in doubt stay out ?
I'm thinking of buying here after tracking since being in TILS, but I'm not totally sure I totally trust the BOD. They do come out with a lot of news and re-spin it....I'm 50/50 at the moment
They're quite keen to continue to raise the bid price , now what does that suggest ;-)
That’s what I like to see, have tucked these away for a few months and will see how they do
After those big delayed buys I am expecting some good movement upwards soon
Travelling so if typo mistakes apologies