Biotech company OKYO Pharma closes US$2.5 million IPO
biotechnology company OKYO Pharma Limited (Nasdaq: OKYO) closed its IPO on the Nasdaq Capital Market on Thursday. The company was able to raise around US$2.5 million in its debut on the big board.
The offering consisted of 625,000 US Depository Shares at US$4.00 per share. The company’s shares trade under the symbol “OKYO”.
Proceeds from the offering are intended to advance the Company’s OK-101 drug candidate for Investigational New Drug (IND) filing, funding for the drug’s Phase 2 clinical trial, as well as working capital and other general corporate purposes.
ThinkEquity acted as sole bookrunner for said offering.
The London-based life sciences company focuses on treating patients with inflammatory eye disease and eye pain. It is currently developing its lead preclinical product candidate OK-101 to treat dry eye disease.
OKYO Pharma last traded at US$3.00 on the Nasdaq.
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