B. Riley initiated coverage of Okyo Pharma with a Buy rating and $5 price target. The firm says the company is developing urcosimod, an anti-inflammatory, anti-pain approach to treat neuropathic corneal pain, a severe and debilitating eye condition. With no FDA-approved treatments, patients rely on off-label approaches, the analyst tells investors in a research note. Riley says its currently estimated 500,000 diagnosed patient pool could be much closer to 1M patients with improved diagnosis.
