OKYO Pharma Ltd. has moved its At‑The‑Market (ATM) equity offering program from B. Riley Securities to Leerink Partners LLC, a healthcare‑focused investment bank. The change makes Leerink the exclusive sales agent for any future ATM transactions and allows the company to sell common shares opportunistically at prevailing market prices.
Under the new arrangement, Leerink will receive a commission equal to 3 % of the gross proceeds from any shares sold under the program. The company said the move is intended to enhance its financial flexibility while minimizing market disruption, a priority as it continues to fund the clinical development of urcosimod for neuropathic corneal pain. CFO Keeren Shah highlighted Leerink’s deep expertise in the biotech sector and its proven track record in executing ATM programs, suggesting the partnership will better support OKYO’s capital‑raising needs.
The transition comes at a critical time for OKYO, which is preparing to launch a Phase 2b/3 multiple‑dose study of urcosimod in the first half of 2026. The company’s fast‑track designation and positive Phase 2 data underscore the urgency of securing additional capital. By switching to a partner with stronger industry relationships, OKYO aims to raise funds more efficiently and maintain the momentum of its pipeline without committing to a large, fixed equity raise.
Prior to the switch, OKYO had been using B. Riley Securities for its ATM facility, but the company did not disclose the amount of capital raised or the performance of that arrangement. The decision to move to Leerink may reflect dissatisfaction with the previous agent’s effectiveness or a strategic shift toward a partner with deeper biotech expertise. The change signals OKYO’s intent to optimize its capital‑raising strategy as it navigates the high‑cost demands of late‑stage clinical development.
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