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Paradigm Biopharmaceuticals (PAR AU): Positive Result from Phase 2 Trial; Satisfactory Cash Position
360 Views18 Oct 2023 23:27
SUMMARY
- Paradigm Biopharmaceuticals (PAR AU) announced phase 2 trial result, demonstrating that lead drug candidate, iPPS treats the symptoms of osteoarthritis as well as preserves and/or regenerates joint tissues.
- This is significant from a commercial perspective because the disease modifying effects of iPPS observed in the phase 2 clinical trial are expected to support a greater reimbursement.
- Paradigm’s cash position was bolstered by A$66M capital raise in Aug’22. As of June 30, 2023, the company has a cash balance of A$56.3M, which should provide runway through Q1FY25.
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Tina Banerjee
Global Healthcare Analyst
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