OKYO Pharma appoints Leerink Partners as sales agent for ATM equity offering

OKYO Pharma appoints Leerink Partners as sales agent for ATM equity offering Proactive uses images sourced from Shutterstock

OKYO Pharma Ltd (NASDAQ:OKYO) a clinical-stage biopharmaceutical company focused on therapies for neuropathic corneal pain and inflammatory eye diseases, announced that it has transitioned its At-The-Market (ATM) equity offering facility to Leerink Partners.

Leerink Partners will replace B. Riley Securities as the exclusive sales agent for the program, which allows the company to sell common shares directly into the market at prevailing prices, subject to market conditions and company discretion.

The ATM facility is intended to provide OKYO Pharma with flexibility to raise capital opportunistically while minimizing market disruption.

"Leerink's deep expertise in the biotech sector, proven track record in executing ATM programs, and strong relationships in the investor community make them an ideal partner as we advance our pipeline, including our lead candidate urcosimod for neuropathic corneal pain,” OKYO Pharma chief financial officer Keeren Shah said in a statement.

“This transition enhances our financial flexibility to support ongoing clinical development and corporate objectives without committing to a fixed equity raise."

Sales under the ATM, if executed, will be conducted pursuant to a prospectus supplement and accompanying base prospectus filed with the US Securities and Exchange Commission.

Leerink Partners will receive a commission of 3% of gross proceeds from any shares sold under the program.

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