Insights

Paradigm (ASX:PAR) share price rockets higher on Zilosul update

The Paradigm Biopharmaceuticals Ltd (ASX:PAR) share price is rocketing higher on Thursday after releasing an update on its Zilosul study…
The post Paradigm (ASX:PAR) share price rockets higher on Zilosul update appeared first on Motley Fool Australia. –

Digitised heart rate and share price chart with man on ipad in background signifying Hydrix share price

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is charging higher again on Thursday.

In morning trade the biopharmaceutical company’s shares are up a sizeable 9% to $2.89.

This latest gain means the Paradigm share price is now up over 25% since the start of the week.

Why is the Paradigm share price rocketing higher?

Investors have been fighting to get hold of the company’s shares this week following a series of positive updates.

On Monday Paradigm announced that it has received positive feedback from the European Medicines Agency after its recent scientific advice meeting.

Then on Tuesday Paradigm revealed that it has extended and expanded its exclusive license and supply agreement with bene pharmaChem. This is a big positive for Paradigm as bene pharmaChem is the only FDA approved manufacturer/supplier of Pentosan Polysulphate Sodium (PPS). PPS is used in the company’s Zilosul product.

Speaking of Zilosul, this morning Paradigm provided an update on a study involving the promising product.

What did Paradigm announce?

Today, Paradigm has provided an update on a study which saw patients receive Zilosul under the Therapeutic Goods Administration (TGA) Special Access Scheme (SAS) for the treatment of knee osteoarthritis.

According to the release, the company has received additional data on 42 patients. This data brings the cumulative average Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC) reduction in pain from the baseline for the 76-patient cohort to 47.3%.

This compares to 44.9% from the first 34 patients.

The release explains that 73.7% of the 76 patients reported at least a 25% reduction in WOMAC pain, with 52.6% of patients reporting a greater than 50% reduction in WOMAC pain.

Pleasing outcomes.

The company’s CEO, Paul Rennie, was pleased with the data.

He said: “As we progress toward regulatory submissions for Paradigm’s proposed Phase 3 global study, it’s pleasing to receive consistent patient WOMAC pain reduction outcomes through the TGA Special Access Scheme.”

“Consistency is key here. We are seeing consistent clinically meaningful reduction in pain and improvement in joint function in OA patients who have failed to respond to other medications. Paradigm remains primarily focussed on our upcoming submissions to the multiple regulatory agencies as we continue to progress toward commercialisation,” he concluded.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Paradigm (ASX:PAR) share price rockets higher on Zilosul update appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!