logo-loader
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: 3.56 AUD

ASX:PAR
Market: ASX
Market Cap: $692.9 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Paradigm Biopharmaceuticals Ltd named herein, including the promotion by the Company of Paradigm Biopharmaceuticals Ltd in any Content on the...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read