OKYO Pharma Limited Announces Withdrawal of Public Offering
31 July 2023 - 4:18PM
OKYO Pharma Limited Announces Withdrawal of Public Offering
OKYO Pharma Limited (Nasdaq: OKYO) (“OKYO” or the “Company”), an
ophthalmology-focused bio-pharmaceutical company which is
developing OK-101 to treat dry eye disease (DED) to address the
significant unmet need in this multi-billion-dollar market, today
announced the withdrawal of its proposed public offering of
ordinary shares. The decision was made in response to changing
market conditions and the Company's commitment to prioritizing the
best interests of its shareholders and stakeholders.
OKYO Pharma's management, including CEO Gary
Jacob, carefully evaluated the current financial landscape and
concluded that it is in the best interest of the Company and its
shareholders to withdraw the public offering at this time.
Gary Jacob, CEO of OKYO Pharma Limited,
commented on the decision, saying, "After thorough consideration
and in-depth analysis of market conditions, we have made the
difficult but necessary decision to withdraw our public offering.
Our primary focus remains on advancing our research and development
initiatives to bring novel treatments to patients in need. We
appreciate the continued support of our investors and stakeholders
as we work towards achieving our mission of improving global
healthcare."
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About OKYO PharmaOKYO Pharma Limited (Nasdaq:
OKYO) is a life sciences company, focusing on the discovery and
development of novel molecules to treat inflammatory dry eye
diseases and chronic pain. For further information, please
visit www.okyopharma.com.
Forward-Looking
StatementsCertain statements made in this announcement are
forward-looking statements. These forward-looking statements are
not historical facts but rather are based on the Company's current
expectations, estimates, and projections about its industry; its
beliefs; and assumptions. Words such as 'anticipates,' 'expects,'
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements.
These statements are not guarantees of future performance and are
subject to known and unknown risks, uncertainties, and other
factors, some of which are beyond the Company's control, are
difficult to predict, and could cause actual results to differ
materially from those expressed or forecasted in the
forward-looking statements. The Company cautions security holders
and prospective security holders not to place undue reliance on
these forward-looking statements, which reflect the view of the
Company only as of the date of this announcement. The
forward-looking statements made in this announcement relate only to
events as of the date on which the statements are made. The Company
will not undertake any obligation to release publicly any revisions
or updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of
this announcement except as required by law or by any appropriate
regulatory authority.
Enquiries:
OKYO Pharma
Limited |
Gary S. Jacob, Chief Executive
Officer |
+44 (0)20 7495 2379 |
Investor
Relations |
Paul Spencer |
+44 (0)20 7495 2379 |
Okyo Pharma (LSE:OKYO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Okyo Pharma (LSE:OKYO)
Historical Stock Chart
From Apr 2023 to Apr 2024