Sign up Australia
Proactive Investors - Run By Investors For Investors

Paradigm Biopharmaceuticals’ leaping share price attracts ASX speeding ticket

Estimated size of the osteoarthritis treatment market is US$5 billion per annum.
rising share price chart
Positive osteoarthritis trial results revealed last month

Paradigm Biopharmaceuticals Ltd (ASX:PAR) has attracted a speed and volume ticket from the ASX following an increase in its share price from a low of 72.5 cents to an intraday high of 90 cents on Friday.

Responding to the price and volume query, the company said that there was no information that had not been announced to the market.

Paradigm believes that one of the possible reasons for the share price spike is due to recent positive results from knee osteoarthritis (OA) patients treated with its trial drug pentosan polysulfate sodium (PPS).

READ: Paradigm Biopharmaceuticals patients report over 50% pain reduction

Of the 75 patients, 84% responded with both a reduction in joint pain and an improvement in knee function.

Notably, patients’ self-reported pain scores were reduced over 50% on average from baseline pain scores.

Paradigm will continue to report over the coming months on the groups of patients that are currently undergoing treatment under the TGA Special Access Scheme (SAS).

READ: Paradigm Biopharmaceuticals osteoarthritis clinical trial ahead of schedule

Following the trial results revealed on 15 June 2018, Paradigm chief executive officer Paul Rennie said: “The number of patients seeking treatment via the TGA SAS is accelerating, which we believe is a strong indication that the patients are receiving a clinical benefit from the iPPS treatment.

“Given these patients have a very similar treatment regimen to subjects being treated under the current phase IIb osteoarthritis randomised, double-blind, placebo-controlled, clinical trial and these patients have failed current therapies to treat OA, we feel particularly confident regarding a positive clinical trial outcome, with the expected release of headline results for that trial due in Q4 CY 2018.”

View full PAR profile View Profile

Paradigm Biopharmaceuticals Ltd Timeline

Related Articles

1519933435_to-conceive-pic.jpg
March 01 2018
The health and wellbeing group, which has a broad product portfolio, had an eventful 2017,
DNA sequence
July 12 2018
The cell therapy specialist also reported there had been industry interest around its main programmes
1521490126_shutterstock_234586750.jpg
March 19 2018
The group has received key permits to allow cannabis - flowers and oils - to be imported into Australia from Aurora Cannabis Inc

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use