viewParadigm Biopharmaceuticals Ltd

Paradigm Biopharmaceuticals’ Paul Rennie adds over $500,000 stock to holding

Paradigm is repurposing the drug Pentosan Polysulfate Sodium (PPS) under the name ZILOSUL®.

Paradigm Biopharmaceuticals Ltd - Paradigm Biopharmaceuticals’ Paul Rennie adds over $500,000 stock to holding
Paradigms shares have risen from 24 cents in 2018 to trade over $3.00 recently

Paradigm Biopharmaceuticals Ltd (ASX:PAR) CEO Paul Rennie has acquired 197,355 shares for $578,250 through the company’s employee share plan.

This increases Rennie’s overall holding in the company to 23.61 million shares, making him a substantial holder in the company.

One of the ASX’s leading biotech companies

Paradigm is a late stage ASX-listed biotechnology company focused on repurposing Pentosan Polysulfate Sodium (PPS), an FDA-approved drug that has a long track record of safely treating inflammation over 60 years

Its main focus is on repurposing PPS (under the name ZILOSUL®) to treat osteoarthritis (OA) – market with over 31 million sufferers in the US alone.

Paradigm expects to file an investigational new drug (IND) application with the FDA for a phase 3 clinical trial in OA in early 2020, potential for trial readout and regulatory submission in the US as early as 2021.

Quick facts: Paradigm Biopharmaceuticals Ltd

Price: 2.7 AUD

Market: ASX
Market Cap: $615.79 m

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