OKYO Stock Forecast & Price Target

OKYO Pharma is viewed favorably because urcosimod is progressing in a high-unmet-need market with no FDA-approved treatment for neuropathic corneal pain, and the Phase 3 NEPTUNE trial has already begun enrolling patients after a positive Type D meeting with the FDA. The program’s de-risking is strengthened by Fast Track designation, the possibility of a single-trial registration strategy, and supportive Phase 2a data showing a 2.75-point pain improvement delta versus placebo after 12 weeks, alongside better quality-of-life outcomes in March 2026. With the company’s capital expected to support the pivotal program through topline data and an exploratory OK-201 pain candidate broadening the pipeline, the fundamental story is anchored in clinical validation, regulatory progress, and disciplined execution within one focused R&D segment.

OKYO Pharma is viewed negatively because its valuation depends almost entirely on a single clinical-stage asset, urcosimod, while explicitly excluding the cash position and assuming a highly speculative $300M DCF-based asset value. The thesis is further weakened by low assigned probabilities of approval across indications, ranging from 5% to 20%, alongside material risks of clinical failure, U.S. regulatory rejection, weak commercial penetration, and competition. Dilution is also a major concern, with share count assumptions rising from 43M at the end of March 2026 to 62.5M at the end of 2Q27, which can pressure per-share value even if development progresses.