OKYO Pharma is a clinical-stage biopharmaceutical company developing non-opioid topical eye drops to treat inflammatory eye diseases and ocular pain. OKYO has no approved products or revenue. Its lead asset is urcosimod (formerly OK-101), a lipidated peptide administered as eye drops that targets ChemR23, a receptor involved in inflammatory and pain signaling in the eye. OKYO's primary focus is neuropathic corneal pain (NCP), a condition of chronic eye pain from corneal nerve damage with no FDA-approved topical treatment. OKYO pivoted to NCP in mid-2024 from dry eye disease (DED), where seven approved drugs already exist. In July 2025, OKYO reported Phase 2 results for urcosimod in NCP: the 0.05% dose achieved a 5.5-point mean pain reduction vs. 2.75 for placebo on a 0-10 scale, though the between-group difference did not reach statistical significance (p=0.07 in the per-protocol population). The FDA granted urcosimod Fast Track designation for NCP in May 2025. OKYO plans to seek an end-of-Phase 2 meeting with the FDA to map a Phase 3 path. A secondary candidate, OK-201, targets NCP through a different mechanism but remains at the preclinical stage. OKYO funds operations through equity raises and holds exclusive worldwide licenses to the underlying IP from Tufts Medical Center and On Target Therapeutics, which carry milestone and royalty obligations.