London, United Kingdom, and New York, NY | July 20, 2026
OKYO Pharma Limited announced the filing of its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (SEC) while highlighting a strengthened financial position that will support the company’s planned global Phase 3 clinical program for urcosimod, its lead investigational therapy for neuropathic corneal pain (NCP). During the fiscal year ended March 31, 2026, the company raised approximately $25 million, including a successful public offering backed by leading institutional investors and investment funds. With cash and cash equivalents of approximately $20.6 million, OKYO stated that it is fully funded through completion of the NEPTUNE Phase 3 pivotal trial, positioning the company to advance toward potential regulatory registration for its first-in-class ophthalmology therapy while strengthening long-term shareholder value.
Financial Growth Supports Global Phase 3 Development
The company’s improved financial position follows a February 2026 public offering that generated approximately $22 million in gross proceeds, including overallotment participation from institutional investors. According to company executives, the strengthened balance sheet provides sufficient capital to execute the next stage of clinical development without immediate financing needs. Management emphasized that the additional funding enables OKYO Pharma to focus on completing its planned registrational study while maintaining operational flexibility as it advances its clinical pipeline. The company believes this financial stability significantly reduces development risk and supports key regulatory milestones expected over the coming years.
NEPTUNE Trial Advances Toward Potential Registration
OKYO Pharma is preparing to initiate the NEPTUNE (Neuropathic Eye Pain Treatment with Urcosimod & Nerve Evaluation) study during the second half of 2026. The global Phase 3 pivotal trial will enroll approximately 111 patients across the United States and Europe, with participants randomized in a 2:1 ratio to receive either 0.05% urcosimod or placebo using a single-dose treatment regimen. The study design follows positive feedback received from the U.S. Food and Drug Administration (FDA) during a Type D meeting, supporting the potential for a single registrational trial that could form the basis for future regulatory approval. If successful, the NEPTUNE study could accelerate the development timeline for urcosimod in an area with significant unmet medical need.
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Urcosimod Targets an Unmet Need in Neuropathic Corneal Pain
Urcosimod is a first-in-class lipid-conjugated chemerin peptide agonist targeting the ChemR23 G-protein-coupled receptor, which is expressed on immune cells involved in ocular inflammation as well as neurons associated with pain signaling. The investigational therapy has demonstrated both ocular analgesic and anti-inflammatory activity, providing a dual mechanism of action designed to address the underlying causes of neuropathic corneal pain, a debilitating eye condition with limited treatment options. With a strengthened cash position, regulatory alignment from the FDA, and a fully funded global Phase 3 program, OKYO Pharma is advancing urcosimod toward potential registration as it seeks to deliver a novel treatment option for patients suffering from chronic neuropathic eye pain.
Source: OKYO Pharma press release
